US Coins

Silver bullion coin pricing chart updated

Premiums paid on silver American Eagle bullion coins are multiples of those being charged on silver bullion issues from other nations.

Images courtesy of the United States Mint.

The formula used by Coin World to calculate pricing for silver bullion products in its weekly “Precious Metals and Bullion Coins” pricing chart (found weekly in the print and digital issue of Coin World) is now updated to reflect recent premiums being paid for the American Eagle 1-ounce .999 fine silver bullion dollar coins.

“Our spreadsheet has been off for a while as regards American Eagle silver bullion coin premiums,” according to Coin World Manager Editor William T. Gibbs Sept. 15: “We had them at $4.80 above the spot price of silver, but the premiums are currently at around $14.90. I checked prices for single coins at four prominent dealers and averaged them out. With silver at $19.37 an ounce, single coins were being offered at an average of $34.26.”

Michael Fuljenz from Universal Coin and Bullion in Beaumont, Texas, notes, “By law, all blanks/planchets, which are all created to the same size and specification, are to be used for the sale of American silver Eagles to meet the public demand and not used to produce any other non-mandated medals or products. That demand to meet the issuance of American silver Eagles is not being fulfilled...”

“The authorized purchasers have increased their premiums on their silver bullion allocations from the U.S. Mint by several hundred percent to dealers, rightly claiming they don’t have enough coins to meet the public demand. The authorized purchasers are paying about $3.00 over spot silver prices to the U.S. Mint, but they are charging dealers, who sell to the public, about $12 over spot silver prices.”

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