Silver: a 1 kg bar is 3.9% over spot, an Eagle coin 9.6%
In short
- At 06:50 Sofia time silver was $51.52 an ounce (−1.4% in 24 hours); a 1 kg bar is $1,720.46 at SD Bullion, 3.9% over spot.
- An American Silver Eagle starts at $56.47, 9.6% over spot; the buy-back gap is 11–17% at SD Bullion.
- $1,000 buys 603.7g at spot, 581g in the 1 kg bar and 551g in the cheapest Eagle.
Silver fell 1.4% in 24 hours to $51.52 an ounce (06:50 Sofia time), but a dealer’s price is another matter: a 1 kg bar is $1,720.46 at SD Bullion – 3.9% over spot – while an American Silver Eagle starts at $56.47, 9.6% over.
What happened
At $51.52 an ounce, $1,000 would buy 603.7g (19.41oz) of silver at spot. A dealer adds a premium for minting, delivery and margin. In HawkValue data (dealer prices at 06:19) the cheapest listed offers are: 1 kg bar $1,720.46 (SD Bullion, +3.9%); 10oz bar $535.60 (Gainesville Coins, +4.0%); 1oz bar $55.01 (SD Bullion, +6.8%); 1oz Britannia $56.01 (SD Bullion, +8.7%); 1oz American Silver Eagle $56.47 (Gainesville Coins, +9.6%).
The buy-back gap is the second cost. SD Bullion buys the 1 kg bar back at $1,524.80 – a gap of 11.4%, so silver would need to rise 12.8% to break even. For the 1oz bar the buy price is $46.43 (gap 15.6%, break-even +18.5%), for the Silver Eagle $50.43 against a $59.01 sell price (gap 14.5%, break-even +17.0%). Gainesville Coins, the cheapest for the Eagle, lists no buy price in our data, so its round-trip cost cannot be calculated. The break-even figures are arithmetic on listed prices, not a forecast for silver.
What it means for you
The maths: $1,000 at spot is 603.7g of silver. In the 1 kg bar at SD Bullion it is 581g (3.7% less); in the cheapest Eagle it is 551g, and at SD Bullion’s Eagle price 527g.
In the US the larger the unit, the lower the premium: 3.9% for the kilo bar against 9.6% for a coin. The same holds for the buy-back gap at SD Bullion: 11.4% for the bar and 14.5% for the Eagle. Gold is far tighter – a 1oz bar is 0.7% over spot at the cheapest dealer this morning. Compare all offers on US silver prices and US gold prices.
A quick check before you compare dealers is the price per gram. The kilo bar works out at $1.72 a gram, the cheapest Eagle at $1.82 and spot at $1.66. Check whether shipping and any sales tax are included in each price before you compare.
Bottom line
Silver’s premium over spot is 3.9–9.6% at the cheapest US dealers this morning, and the round trip costs 11–17% at SD Bullion. These are listed prices, not a forecast.
Sources: HawkValue data – spot at 06:50, dealer prices at 06:19 (SD Bullion, Gainesville Coins, Hero Bullion, BGASC) · US silver prices
Gold prices at US dealers live →
For information only. This is not investment advice.
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