Market Calendar
The Retail Premium Index

Bullion Premiums: Monthly History Since 2013

Monthly bullion premiums at SD Bullion for the benchmark coins, bars, rounds, and junk silver: 14 years of history, with the methodology public.

Retail Premium Index silver composite, August 20263.4%14-year range: 3.4%-38.8%below every prior month of its own history
Retail Premium Index gold composite, August 20262.3%13-year range: 1.5%-9.8%19th percentile of its own history

captured 31 Aug 2026 · How these numbers are made

The composites

1Y3YMax
-10.0%0.0%10.0%20.0%30.0%40.0%50.0%20142015201620172018201920202021202220232024202520263.4%2.3%

Monthly composite premiums at SD Bullion, April 2013 to August 2026. Median across benchmark products of their ounce-weighted monthly averages. The silver composite is the median of the silver benchmarks reporting each month: 5 in April 2013, 12 in August 2026, never fewer than 5. The basket grows as products enter the series. The gold composite is the median of the gold benchmarks reporting each month: 5 in July 2014, 10 in August 2026, never fewer than 5. The basket grows as products enter the series.

See the figures
Monthly composite premium, Silver and Gold
Month Silver Silver benchmarks Gold Gold benchmarks
April 2013 16.0%5
September 2013 10.0%5
October 2013 9.5%6
November 2013 9.5%6
December 2013 8.1%7
January 2014 9.7%7
February 2014 8.5%5
March 2014 8.9%7
April 2014 9.2%7
May 2014 10.0%7
June 2014 10.0%7
July 2014 7.4%73.1%5
August 2014 8.5%83.8%5
September 2014 9.1%83.1%6
October 2014 12.8%83.4%6
November 2014 17.1%83.3%5
December 2014 15.9%8
January 2015 13.8%8
February 2015 14.1%84.0%5
March 2015 13.9%93.8%6
April 2015 13.8%93.4%5
May 2015 14.2%9
June 2015 14.7%94.2%5
July 2015 18.7%94.1%6
August 2015 19.4%94.1%6
September 2015 20.3%104.7%5
October 2015 17.1%8
November 2015 15.5%94.4%5
December 2015 15.9%104.5%5
January 2016 15.2%94.1%5
February 2016 14.2%93.6%6
March 2016 13.3%94.2%5
April 2016 13.8%103.6%6
May 2016 13.7%103.6%6
June 2016 12.5%104.0%5
July 2016 10.1%103.4%6
August 2016 11.0%103.5%6
September 2016 9.8%102.7%7
October 2016 11.1%113.2%7
November 2016 11.9%113.9%8
December 2016 11.4%113.8%8
January 2017 11.5%104.0%7
February 2017 8.9%104.0%6
March 2017 9.1%104.2%6
April 2017 10.9%113.7%6
May 2017 11.6%113.1%7
June 2017 11.2%113.3%7
July 2017 11.8%113.5%6
August 2017 10.9%112.8%7
September 2017 10.6%113.0%6
October 2017 8.1%103.5%5
November 2017 8.0%103.6%7
December 2017 7.7%103.5%8
January 2018 8.2%102.8%5
February 2018 6.3%102.5%7
March 2018 7.9%112.5%5
April 2018 11.2%112.4%6
May 2018 11.2%112.6%5
June 2018 10.5%92.7%6
July 2018 9.8%123.1%9
August 2018 10.4%123.2%8
September 2018 8.6%113.1%9
October 2018 12.8%122.9%8
November 2018 11.0%103.0%7
December 2018 12.3%102.7%7
January 2019 11.9%112.9%8
February 2019 11.8%122.2%8
March 2019 11.7%122.4%8
April 2019 11.2%122.3%9
May 2019 11.0%122.4%6
June 2019 10.6%121.9%7
July 2019 11.2%111.6%6
August 2019 10.2%121.6%9
September 2019 10.0%111.5%9
October 2019 9.0%112.3%9
November 2019 10.8%112.0%9
December 2019 8.5%112.0%9
January 2020 10.6%121.8%10
February 2020 10.1%122.0%10
March 2020 16.6%113.6%10
April 2020 38.8%119.8%5
May 2020 29.6%116.8%6
June 2020 17.8%115.4%8
July 2020 16.8%113.9%9
August 2020 15.8%124.4%10
September 2020 15.1%113.8%10
October 2020 13.8%113.7%10
November 2020 10.7%113.9%9
December 2020 9.3%124.0%8
January 2021 11.1%124.0%10
February 2021 20.1%115.4%9
March 2021 20.6%115.5%9
April 2021 22.9%115.4%9
May 2021 20.2%125.4%10
June 2021 18.8%125.0%9
July 2021 16.7%114.5%10
August 2021 16.1%114.1%10
September 2021 16.1%113.9%10
October 2021 17.2%114.2%10
November 2021 15.3%114.3%10
December 2021 17.8%124.4%10
January 2022 17.0%124.1%10
February 2022 16.9%123.8%10
March 2022 19.3%123.8%10
April 2022 24.8%124.1%10
May 2022 27.5%124.2%10
June 2022 24.6%114.4%10
July 2022 24.8%114.3%10
August 2022 25.8%124.3%10
September 2022 28.9%124.6%10
October 2022 31.9%125.3%10
November 2022 30.8%125.0%10
December 2022 17.9%124.3%10
January 2023 15.9%124.1%10
February 2023 15.5%124.1%10
March 2023 18.3%123.8%10
April 2023 20.4%124.8%10
May 2023 19.4%124.4%10
June 2023 17.5%114.4%10
July 2023 16.6%114.1%10
August 2023 16.8%113.7%9
September 2023 13.2%113.8%10
October 2023 14.0%113.5%9
November 2023 13.9%122.8%9
December 2023 14.8%123.2%10
January 2024 14.9%123.3%10
February 2024 14.1%122.9%10
March 2024 13.0%122.7%10
April 2024 10.6%122.5%10
May 2024 9.4%122.2%10
June 2024 10.4%122.4%10
July 2024 10.2%122.5%10
August 2024 9.6%122.2%10
September 2024 9.6%122.4%10
October 2024 9.4%122.3%10
November 2024 9.1%122.6%10
December 2024 9.6%122.4%10
January 2025 6.9%122.1%8
February 2025 6.8%121.9%10
March 2025 6.5%122.3%10
April 2025 7.7%122.1%10
May 2025 9.8%122.3%10
June 2025 6.9%121.8%10
July 2025 5.5%122.0%9
August 2025 6.1%122.0%10
September 2025 4.8%121.9%10
October 2025 7.8%122.3%10
November 2025 5.7%112.6%10
December 2025 5.9%121.9%10
January 2026 7.5%121.8%10
February 2026 10.9%122.6%10
March 2026 7.6%122.1%10
April 2026 6.0%112.6%10
May 2026 6.1%111.7%9
June 2026 3.5%112.1%10
July 2026 7.7%112.5%10
August 2026 3.4%122.3%10

Based on SD Bullion transaction data. Figures before March 2019 are historical estimates.

Silver premiums

ProductLatest month1-yr avgAll-history avgAll-time high
Mexican Silver Libertad 1 ozView premium history20.3% · $11.91/oz37.5% (93 mo) 135.6% (May 2022)
Austrian Silver Philharmonic 1 ozView premium history10.8% · $7.17/oz6.2%13.9% (159 mo) 46.9% (April 2020)
American Silver Eagle 1 ozView premium history9.0% · $6.06/oz11.8%23.9% (164 mo) 93.9% (October 2022)
Australian Silver Kangaroo 1 ozView premium history7.9% · $5.21/oz7.9%14.1% (132 mo) 38.6% (May 2020)
Canadian Silver Maple Leaf 1 ozView premium history7.4% · $4.87/oz8.0%14.9% (164 mo) 43.2% (October 2022)
100 oz silver barView premium history3.5% · $2.25/oz3.1%6.7% (154 mo) 29.6% (May 2020)
British Silver Britannia 1 ozView premium history3.3% · $2.17/oz6.9%15.0% (140 mo) 42.6% (April 2020)
Generic 1 oz silver roundView premium history1.9% · $1.25/oz5.4%8.2% (155 mo) 27.4% (October 2022)
10 oz silver barView premium history1.3% · $0.90/oz5.9%8.9% (161 mo) 28.1% (April 2020)
1 kilo silver barView premium history0.9% · $0.57/oz4.6%8.2% (116 mo) 36.2% (May 2020)
South African Silver Krugerrand 1 ozView premium history-0.7% · -$0.46/oz7.3%15.4% (98 mo) 44.2% (April 2020)
90% junk silver ($1 face value)View premium history-3.6% · -$2.21/oz-2.3%14.5% (155 mo) 69.9% (September 2015)

See every silver benchmark, month by month

Gold premiums

ProductLatest month1-yr avgAll-history avgAll-time high
American Gold Eagle 1/10 ozView premium history16.2% · $717.76/oz14.2%18.6% (151 mo) 49.2% (May 2021)
American Gold Buffalo 1 ozView premium history5.4% · $241.15/oz5.1%5.1% (141 mo) 11.5% (October 2022)
Australian Gold Kangaroo 1 ozView premium history2.6% · $120.23/oz1.9%3.0% (97 mo) 4.7% (March 2021)
Generic 1 oz gold bar (minted)View premium history2.4% · $105.73/oz2.0%2.2% (150 mo) 5.5% (April 2020)
British Gold Britannia 1 ozView premium history2.3% · $101.54/oz2.4%3.3% (88 mo) 6.0% (May 2023)
American Gold Eagle 1 ozView premium history2.3% · $102.21/oz3.3%4.7% (155 mo) 11.9% (October 2022)
Canadian Gold Maple Leaf 1 ozView premium history2.2% · $98.95/oz2.1%3.1% (154 mo) 7.6% (April 2020)
South African Gold Krugerrand 1 ozView premium history1.5% · $65.34/oz1.1%2.8% (126 mo) 5.8% (May 2021)
Austrian Gold Philharmonic 1 ozView premium history1.5% · $65.19/oz1.7%3.1% (83 mo) 6.5% (May 2020)
10 oz gold barView premium history1.4% · $62.16/oz1.4%2.0% (80 mo) 3.4% (March 2021)

See every gold benchmark, month by month

The Retail Premium Index

What a premium is, and why it moves

A premium is the gap between what a bullion product costs and the metal inside it. An American Silver Eagle holds one ounce of silver, but it never sells at the bare metal price: minting, distribution, and demand for that particular coin all sit on top. This phase of the index measures each benchmark product against the metal value SD Bullion recorded on the transaction at the time of sale, or, for the years before March 2019, against that day's closing price.

Premiums move on their own, and that is the point of watching them. When retail demand surges or mint capacity tightens, premiums blow out even when the metal price itself barely moves. They are the physical market’s stress gauge.

This phase of the index is built from SD Bullion's own records: the affiliation is stated plainly in the methodology, and it is what makes years of premium history possible. The anonymized multi-dealer panel this index grows into is the roadmap; the history is the foundation.

The Retail Premium Index is a free public resource published for educational purposes only. It is compiled from real transaction records and from market data we license, using the methods described on the methodology page, and we correct it when we find errors. It is not a price quote, an offer to buy or sell, or investment advice, and it may not match figures compiled by other dealers or from other sources, whose products, pricing and methods differ from ours. The methods, the products covered and the period covered may change over time; nothing about the continuation, consistency or method of the index is guaranteed, and any figure may be revised or withdrawn. Past premiums do not indicate future premiums. The figures come from one retailer's own records of completed orders, and for the months before March 2019 from estimates of what the metal was worth at the time of each sale.

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