Valuation Basics

Premiums Over Spot

A premium over spot is the amount paid above the metal's baseline spot value. Premiums vary by product type, mint recognition, size, demand, and dealer inventory.

Why premiums exist

Physical products must be refined, fabricated, transported, inventoried, authenticated, and resold. Those costs and the market's demand for recognizable products create premiums.

Premiums differ by format

Fractional gold often has higher percentage premiums than one-ounce gold. Sovereign coins often carry higher premiums than generic bars. Silver coins can carry much higher percentage premiums than large silver bars.

Premium does not equal profit

A buyer may pay a premium at retail, but a future buyback offer may include a spread. The premium must be evaluated against liquidity and resale demand.

Premium examples are educational and vary by dealer, market conditions, and product availability.

Last reviewed: 2026-06-30

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