What is Silver Spot Price?
Silver Spot Price is the price that silver bullion futures contracts trade at on the COMEX commodities exchange global markets. Spot price is also the price that retail silver dealers use as the cost basis for selling and buying products. Dealers determine the price of silver bars and rounds by adding a premium over the silver spot price.
When selling silver, a dealer usually bases its products on the spot silver ask price. When buying silver, it usually bases its price on the spot silver bid price. In addition to the added premium, the spread between the silver spot price bid and ask is how the dealer makes its profit.
The precious metals and bullion dealers on this page offer new customers an opportunity to buy a fixed amount of silver at the spot price.
Some bullion dealers call these “starter packs.” These silver bullion starter packs are limited to one purchase per household.
Here, you can buy over 50 oz of silver at spot from these precious metals dealers.
Buying at spot price is the easiest way to buy the cheapest silver bullion. This allows you to add more silver bullion to your stack or investment portfolio without the added premium.
Buying silver at spot price will save you money, reduce your dollar cost average (DCA), and improve your precious metals investment holdings.
Where can you buy silver at spot price?
The dealers listed on this page, such as Silver Gold Bull, JM Bullion, and SD Bullion, have a special offer that allows new customers to purchase up to 10 oz at the silver spot price.
By taking advantage of all of these offers, you can buy over 50 troy ounces of silver at the spot price.
In addition to these offers, buying generic silver bullion provides the best value for dollar cost averaging. Buying generic silver bullion in the form of 1 oz bars and rounds, 5 oz bars, or 10 oz bars provides a balance of lower premium over silver spot price while also being reasonably easy to sell if you need the money in a pinch.
Buying larger-size bars, such as kilos and 100 oz bars, will be the lowest premium over the silver spot price.
Why do some dealers sell silver at spot price?
Except when noted, spot price deals are limited to one offer per household. Silver bullion is a commodity product driven by market pricing. Dealers differentiate themselves by their customer service and pricing. Offering a spot price deal exposes the customer to the dealer’s customer service and pricing for additional products. Most of the deals on this page are incentive offers for dealers to attract new customers and expose them to their customer service and pricing with the goal of converting them into returning and repeat customers.
Occasionally, some dealers will drop the prices on a particular item to spot price. This sometimes happens with 1 oz generic silver rounds and 10 oz bars. Dealers may do this because they have an excess inventory of an item. They may have purchased these items well below the current spot price. This allows them to eliminate the premium they normally charge and pass those savings on to investors looking for a deal.
Which is the best silver at spot price deal?
It depends on your stacking goals. Many people choose to get the spot price deal from Silver Gold Bull. The Silver Gold Bull offer is for their custom 10 oz bar at spot price with free shipping.
The Silver Gold Bull 10 oz silver bar is custom-minted by The Sunshine Mint. It features the Silver Gold Bull and Charging Bull logo. Sunshine Mint manufactures it and is made to the same
quality standards and purity as other Sunshine Mint 10 oz bars. The 10 oz bar at spot price contains .999 fine silver, which is the same quality as silver bars with a high dealer premium.
Can I buy American Silver Eagles at spot price?
We have found two offers that include American Silver Eagle coins at a discounted price. The first, from Money Metals Exchange, is their Silver Starter Pack at Employee Pricing. The silver starter kit includes
4 troy ounces of silver that includes (1) American Silver Eagle, (1) Canadian Silver Maple Leaf, (1) Generic Silver 1 oz Walking Liberty Round, (1) half-ounce Walking Liberty Round, and (5) 1/10th ounce fractional silver rounds. All of these silver bullion rounds carry a premium over silver spot price. However, Money Metals Exchange reduces the premium on these items and offers them at cost. For a limited time only, the price also includes free shipping.
While the silver price per ounce is above silver spot price, this Silver Starter Pack is still a great deal with the premium items. It is limited to one purchase per customer.
The second offer we found is from International Currency and Coin. Their offer is for (1) American Silver Eagle coin for $17.00. However, the shipping charge is $5.95, which brings the total cost of this offer to $22.95, which is well above the silver spot price.
How can I buy silver rounds at spot price?
Yes, you can buy silver rounds at spot price. We track several offers from trusted and reputable dealers, including generic silver rounds at spot price. The spot price deals from JM Bullion and Monument Metals each include (10) 1 oz silver rounds at spot price. They also include free shipping.
Several times per year, other major trusted and reputable dealers will offer silver rounds at spot price or just slightly above. Be sure to visit our generic silver rounds product page, which tracks prices from all major online bullion dealers.
We also send out spot price deal alerts in our email newsletter. You can subscribe here to receive these alerts and our semi-regular newsletter.
If your goal is to get as many precious metals as close to the spot as possible, then follow these steps:
Watch for Special Offers—Online bullion dealers periodically offer special price breaks on certain silver and gold bullion products. These products are often secondary market bullion products, such as 5 oz or 10 oz silver bars. Special offers can include silver at spot price with free shipping.
Compare Dealer Prices: We track prices from over 30 trusted and reputable online bullion dealers for hundreds of precious metals products.
Stick with Generic Silver Bullion – Generic silver bullion, especially secondary market silver bullion, is frequently offered by dealers at or close to silver spot price. Generic silver bullion is going to have the best prices.
Buy Larger Quantities—The trusted and reputable online bullion dealers offer price breaks on larger quantities. When buying smaller silver bullion, such as 1 oz rounds or bars, the prices will be cheaper if you buy 10 or 20 ounces at a time. Remember that some dealers charge shipping on orders that don’t meet a specified threshold. Shipping charges need to be factored into the overall cost of your investment.
