Compare gold and silver premiums, melt value, price per ounce, and dealer offers using live spot prices
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Inflation Calculator | Value Calculator | Gold Silver Ratio Calculator | Price by Weight Calculator
How to Use the Gold & Silver Premium Calculator
The Gold & Silver Premium Calculator helps you measure how much you are paying above the current live spot price when buying physical bullion.
Enter the dealer price and fine-metal weight of your product to calculate the premium percentage, premium amount, melt value, effective price per troy ounce and break-even spot price.
You can switch between gold and silver, use different weight units, and compare several dealer offers side by side. This makes it easier to compare bullion products based on the actual gold premium over spot or silver premium over spot, rather than looking only at the final retail price.
If you first want to calculate the underlying value of a metal based on weight and purity, use the Gold & Silver Value Calculator.
For a quick overview of current values across grams, troy ounces and kilograms, visit Gold & Silver Price by Weight.
What Is a Gold or Silver Premium?
A bullion premium is the amount paid above the spot value of the gold or silver contained in a product.
If the silver inside a bullion coin is worth $70 at the current spot price and the dealer sells the coin for $77, the additional $7 represents the premium.
Bullion premiums can reflect minting and fabrication costs, dealer margins, transportation, product availability and current conditions in the physical precious metals market.
This is why the price of a physical coin or bar can differ from the quoted spot price.
Premiums can also move independently of spot. During periods of strong physical demand or limited product availability, the premium may rise even if the underlying metal price changes only slightly.
Why Compare Premiums Over Spot?
Two bullion products containing the same amount of gold or silver can trade at very different retail prices.
Comparing the premium over spot makes those differences much easier to see.
A lower premium does not always mean a better purchase. Product liquidity, recognizability, condition and dealer buyback spreads can also matter. But premium percentage remains one of the most useful measurements when comparing physical bullion.
For another way to compare gold and silver, use the Gold Silver Ratio Calculator.
You can also use the Gold & Silver Inflation Calculator to compare precious-metal values across different periods after adjusting for inflation.
Spot Price vs. Physical Bullion Price
The spot price is the market reference price for gold or silver.
Physical bullion usually trades above that level because owning, producing, storing and distributing real metal involves additional costs.
That difference between spot and the actual retail price is one of the reasons it is useful to track physical premiums separately from futures-market pricing.
If you also follow positioning in the paper market, the Gold & Silver COT & Open Interest Tracker provides a broader view of how major trader categories are positioned in gold and silver futures.
You can learn more about those data in the COT Report guide.
Another concept that can influence the relationship between spot, futures and physical prices is cost of carry, which reflects the costs associated with financing and holding a commodity over time.
Frequently Asked Questions
What is premium over spot?
Premium over spot is the difference between the retail price of a bullion product and the current spot value of the gold or silver it contains.
How is the gold or silver premium calculated?
The calculator compares the product price with its current melt value. The difference is shown both as a monetary amount and as a percentage.
What is a good gold or silver premium?
There is no single premium that is always “good.” Premiums vary by product, dealer, market conditions, availability, payment method and location. Comparing several offers is usually more useful than looking at one fixed number.
Does the calculator use live gold and silver prices?
Yes. The calculator uses current reference spot prices for gold and silver and updates the calculations automatically.
Can I compare several bullion dealers?
Yes. You can enter multiple dealer prices for the same product and compare their premiums side by side.
What weight should I enter?
Enter the fine gold or fine silver content of the product. For example, a bullion coin containing exactly one troy ounce of fine gold should be entered as 1 troy oz.
Does the premium include shipping, taxes or payment fees?
No. Shipping, taxes, payment fees and other transaction costs may increase the total amount you actually pay.
Is melt value the same as resale value?
No. Melt value represents the theoretical value of the underlying metal at the current spot price. A dealer’s actual buyback price may be higher or lower depending on the product, spread and current market conditions.