Market Calendar

Junk Silver vs Silver Eagle: Which Has Carried the Higher Premium?

In August 2026 the 90% junk silver ($1 face value) carried 3.6% under spot and the American Silver Eagle 1 oz carried 9.0% over spot, a gap of 12.6 points. Over the 155 months both reported, the American Silver Eagle 1 oz carried the higher premium in 141 of them.

90% junk silver ($1 face value), August 2026-3.6%$2.21 per ounce under spot3rd percentile of its own history
American Silver Eagle 1 oz, August 20269.0%$6.06 per ounce over spot1st percentile of its own history
The gap in points, August 2026-12.6Higher for the American Silver Eagle 1 oz
Months both reported1559 thin months left out

90% junk silver ($1 face value) and American Silver Eagle 1 oz, month by month

1Y3Y5YMax
-25.0%0.0%25.0%50.0%75.0%100.0%January 2013October 2014July 2016April 2018January 2020October 2021July 2023April 2025
See the figures
90% junk silver ($1 face value) and American Silver Eagle 1 oz, by month
Category90% junk silver ($1 face value)American Silver Eagle 1 oz
January 20139.1%14.3%
February 201312.1%13.2%
March 20138.4%18.3%
April 201316.7%20.9%
May 201324.7%15.4%
June 201314.6%17.3%
July 201318.0%17.2%
August 201313.3%13.5%
September 20138.4%12.8%
October 20138.7%14.0%
November 20138.8%18.3%
December 20138.1%18.5%
January 20149.7%17.0%
February 20148.5%16.4%
March 20148.9%13.6%
April 20149.2%12.7%
May 201411.2%13.4%
June 201410.0%12.8%
July 20147.4%12.0%
August 20147.2%12.2%
September 20147.0%13.6%
October 201412.7%15.6%
November 201417.0%19.1%
December 201415.7%16.7%
January 201516.0%15.5%
February 201517.3%16.3%
March 201518.0%14.5%
April 201513.8%14.4%
May 201515.5%14.2%
June 201515.8%14.7%
July 201520.8%20.8%
August 201545.9%21.7%
September 201569.9%29.6%
October 201535.6%21.4%
November 201522.2%19.1%
December 201529.0%21.9%
January 201629.2%19.3%
February 201623.8%17.8%
March 201627.1%17.4%
April 201616.6%15.2%
May 201614.4%14.4%
June 201612.4%14.0%
July 20168.4%11.7%
August 20167.3%12.4%
September 20169.2%12.5%
October 201611.1%13.6%
November 201613.8%14.7%
December 201614.4%15.4%
January 201712.5%15.5%
February 20177.8%13.5%
March 20177.6%13.9%
April 20177.0%13.5%
May 20179.5%14.2%
June 20178.5%14.9%
July 20178.0%15.6%
August 20176.0%14.2%
September 20174.2%13.4%
October 20173.6%13.9%
November 20173.5%12.8%
December 20173.8%14.6%
January 20183.4%13.0%
February 20181.9%11.7%
March 20183.3%13.7%
April 20182.8%14.1%
May 20182.7%14.1%
June 20183.2%14.0%
July 20183.5%14.4%
August 20184.0%16.2%
September 20185.9%18.4%
October 20187.0%16.6%
November 20185.7%16.5%
December 20185.8%16.1%
January 20195.0%15.7%
February 20195.1%16.0%
March 20195.2%16.5%
April 20194.3%16.6%
May 20194.4%16.9%
June 20194.9%16.5%
July 20194.6%15.5%
August 20194.3%14.2%
September 20194.3%14.0%
October 20192.9%14.3%
November 20193.0%14.6%
December 20193.3%14.5%
January 20203.0%14.0%
February 20202.7%13.7%
March 202023.2%28.0%
April 202046.1%60.6%
May 202023.9%60.9%
June 202017.7%40.8%
July 202015.9%35.5%
August 202015.2%31.8%
September 20209.7%24.0%
October 20209.1%19.9%
November 20208.2%17.6%
December 20205.2%13.8%
January 20217.8%16.8%
February 202126.8%46.3%
March 202131.0%42.5%
April 202133.1%42.6%
May 202126.2%46.6%
June 202121.0%49.9%
July 202119.6%39.6%
August 202119.0%36.9%
September 202124.5%37.0%
October 202133.5%47.0%
November 202130.6%40.6%
December 202131.7%39.5%
January 202231.6%38.4%
February 202227.8%38.3%
March 202227.4%51.0%
April 202234.4%58.9%
May 202239.8%66.6%
June 202240.3%60.4%
July 202245.8%67.9%
August 202245.8%69.5%
September 202249.4%74.1%
October 202262.4%93.9%
November 202253.9%80.8%
December 202231.5%51.4%
January 202327.3%41.7%
February 202323.2%44.6%
March 202330.0%56.9%
April 202358.4%73.3%
May 202357.2%76.0%
June 202341.1%66.4%
July 202327.7%42.2%
August 202316.8%28.3%
September 202319.9%24.8%
October 202320.4%25.8%
November 202313.5%22.0%
December 202318.2%19.1%
January 202415.6%19.3%
February 202411.5%20.0%
March 202410.4%24.8%
April 20246.5%25.0%
May 20247.0%24.1%
June 20245.8%23.3%
July 20244.8%21.3%
August 20249.8%24.2%
September 20249.2%17.1%
October 20246.6%16.5%
November 20247.5%17.3%
December 20248.0%16.1%
January 20255.1%15.2%
February 20254.5%13.4%
March 20255.9%14.1%
April 20254.2%15.0%
May 20251.4%14.5%
June 20254.4%12.2%
July 20251.3%11.7%
August 20250.6%11.0%
September 20250.6%11.3%
October 20250.7%15.4%
November 20250.3%11.4%
December 20250.4%9.6%
January 20260.1%12.8%
February 20260.6%18.2%
March 2026-7.9%14.2%
April 2026-6.0%8.5%
May 2026-1.4%9.4%
June 2026-7.5%9.7%
July 2026-4.1%12.7%
August 2026-3.6%9.0%
Monthly premium over spot for the 90% junk silver ($1 face value) and the American Silver Eagle 1 oz, September 2013 to August 2026. The shaded band between the two lines is the gap in points.
Explore in the price chart

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

90% junk silver ($1 face value) against the silver composite

-20.0%0.0%20.0%40.0%60.0%80.0%January 2013October 2014July 2016April 2018January 2020October 2021July 2023April 2025
See the figures
90% junk silver ($1 face value) and the silver composite, by month
Category90% junk silver ($1 face value)Silver composite
January 20139.1%
February 201312.1%
March 20138.4%
April 201316.7%16.0%
May 201324.7%
June 201314.6%
July 201318.0%
August 201313.3%
September 20138.4%10.0%
October 20138.7%9.5%
November 20138.8%9.5%
December 20138.1%8.1%
January 20149.7%9.7%
February 20148.5%8.5%
March 20148.9%8.9%
April 20149.2%9.2%
May 201411.2%10.0%
June 201410.0%10.0%
July 20147.4%7.4%
August 20147.2%8.5%
September 20147.0%9.1%
October 201412.7%12.8%
November 201417.0%17.1%
December 201415.7%15.9%
January 201516.0%13.8%
February 201517.3%14.1%
March 201518.0%13.9%
April 201513.8%13.8%
May 201515.5%14.2%
June 201515.8%14.7%
July 201520.8%18.7%
August 201545.9%19.4%
September 201569.9%20.3%
October 201535.6%17.1%
November 201522.2%15.5%
December 201529.0%15.9%
January 201629.2%15.2%
February 201623.8%14.2%
March 201627.1%13.3%
April 201616.6%13.8%
May 201614.4%13.7%
June 201612.4%12.5%
July 20168.4%10.1%
August 20167.3%11.0%
September 20169.2%9.8%
October 201611.1%11.1%
November 201613.8%11.9%
December 201614.4%11.4%
January 201712.5%11.5%
February 20177.8%8.9%
March 20177.6%9.1%
April 20177.0%10.9%
May 20179.5%11.6%
June 20178.5%11.2%
July 20178.0%11.8%
August 20176.0%10.9%
September 20174.2%10.6%
October 20173.6%8.1%
November 20173.5%8.0%
December 20173.8%7.7%
January 20183.4%8.2%
February 20181.9%6.3%
March 20183.3%7.9%
April 20182.8%11.2%
May 20182.7%11.2%
June 20183.2%10.5%
July 20183.5%9.8%
August 20184.0%10.4%
September 20185.9%8.6%
October 20187.0%12.8%
November 20185.7%11.0%
December 20185.8%12.3%
January 20195.0%11.9%
February 20195.1%11.8%
March 20195.2%11.7%
April 20194.3%11.2%
May 20194.4%11.0%
June 20194.9%10.6%
July 20194.6%11.2%
August 20194.3%10.2%
September 20194.3%10.0%
October 20192.9%9.0%
November 20193.0%10.8%
December 20193.3%8.5%
January 20203.0%10.6%
February 20202.7%10.1%
March 202023.2%16.6%
April 202046.1%38.8%
May 202023.9%29.6%
June 202017.7%17.8%
July 202015.9%16.8%
August 202015.2%15.8%
September 20209.7%15.1%
October 20209.1%13.8%
November 20208.2%10.7%
December 20205.2%9.3%
January 20217.8%11.1%
February 202126.8%20.1%
March 202131.0%20.6%
April 202133.1%22.9%
May 202126.2%20.2%
June 202121.0%18.8%
July 202119.6%16.7%
August 202119.0%16.1%
September 202124.5%16.1%
October 202133.5%17.2%
November 202130.6%15.3%
December 202131.7%17.8%
January 202231.6%17.0%
February 202227.8%16.9%
March 202227.4%19.3%
April 202234.4%24.8%
May 202239.8%27.5%
June 202240.3%24.6%
July 202245.8%24.8%
August 202245.8%25.8%
September 202249.4%28.9%
October 202262.4%31.9%
November 202253.9%30.8%
December 202231.5%17.9%
January 202327.3%15.9%
February 202323.2%15.5%
March 202330.0%18.3%
April 202358.4%20.4%
May 202357.2%19.4%
June 202341.1%17.5%
July 202327.7%16.6%
August 202316.8%16.8%
September 202319.9%13.2%
October 202320.4%14.0%
November 202313.5%13.9%
December 202318.2%14.8%
January 202415.6%14.9%
February 202411.5%14.1%
March 202410.4%13.0%
April 20246.5%10.6%
May 20247.0%9.4%
June 20245.8%10.4%
July 20244.8%10.2%
August 20249.8%9.6%
September 20249.2%9.6%
October 20246.6%9.4%
November 20247.5%9.1%
December 20248.0%9.6%
January 20255.1%6.9%
February 20254.5%6.8%
March 20255.9%6.5%
April 20254.2%7.7%
May 20251.4%9.8%
June 20254.4%6.9%
July 20251.3%5.5%
August 20250.6%6.1%
September 20250.6%4.8%
October 20250.7%7.8%
November 20250.3%5.7%
December 20250.4%5.9%
January 20260.1%7.5%
February 20260.6%10.9%
March 2026-7.9%7.6%
April 2026-6.0%6.0%
May 2026-1.4%6.1%
June 2026-7.5%3.5%
July 2026-4.1%7.7%
August 2026-3.6%3.4%
Monthly premium over spot, January 2013 to August 2026, against the silver composite.

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

captured 31 Aug 2026 · How these numbers are made

Side by side

Reading90% junk silver ($1 face value)American Silver Eagle 1 ozDifference, in points
Latest month-3.6% (-$2.21/oz)August 20269.0% ($6.06/oz)August 2026-12.6
1-yr avg-2.3%11.8%-14.2
All-history avg14.5%155 months23.9%164 months
All-time high69.9%September 201593.9%October 2022-24.0
Months reported155164
Thin months90
IssuerUnited States MintUnited States Mint
Fineness.900.999
Silver contentAbout 0.715 troy oz per dollar of face value1 troy oz
Legal tenderYes
Face valueOne dollar
First issued1986

When they diverge

Pick a month both benchmarks reported and read what each carried relative to spot, the gap between them, and the composite for the same month.

90% junk silver ($1 face value)
3.6% under spot · -$2.21/oz
American Silver Eagle 1 oz
9.0% over spot · $6.06/oz
The gap in points
-12.6
Silver composite
3.4%

What the Mint sold

The United States Mint's monthly Silver Eagle sales to its Authorized Purchasers: the wholesale pipe behind the retail premium. When the Mint sells little, dealers are bidding for scarce coins and premiums have often widened; when it sells a lot, they have often eased. Often, not always: in March 2020 Mint sales and premiums jumped together.

02M4M6M8MJanuary 2013October 2014July 2016April 2018January 2020October 2021July 2023April 2025
Silver Eagle bullion coin sales in ounces, month by month, January 2013 to June 2026, on the same months as the premium chart above. December 2025 is shown as 0, assumed, not yet stated by the Mint; the figure is replaced when the Mint states it.
See the figures
American Silver Eagle 1 oz: the Mint's monthly sales beside the premium
MonthCoinsOuncesStatusPremium
June 2026260,000260,000 ozreported9.7%
May 202600 oz0 reported9.4%
April 2026380,500380,500 ozreported8.5%
March 20261,630,0001,630,000 ozreported14.2%
February 20261,733,5001,733,500 ozreported18.2%
January 20264,816,5004,816,500 ozreported12.8%
November 2025749,500749,500 ozreported11.4%
October 20251,425,0001,425,000 ozreported15.4%
September 2025575,000575,000 ozreported11.3%
August 2025430,000430,000 ozreported11.0%
July 2025305,000305,000 ozreported11.7%
June 2025315,000315,000 ozreported12.2%
May 2025775,000775,000 ozreported14.5%
April 20251,530,0001,530,000 ozreported15.0%
March 2025972,500972,500 ozreported14.1%
February 2025928,000928,000 ozreported13.4%
January 20253,563,0003,563,000 ozreported15.2%
December 20241,314,0001,314,000 ozreported16.1%
November 2024983,000983,000 ozreported17.3%
October 20242,469,0002,469,000 ozreported16.5%
September 20242,446,0002,446,000 ozreported17.1%
August 20241,700,0001,700,000 ozreported24.2%
July 20241,700,0001,700,000 ozreported21.3%
June 20241,700,0001,700,000 ozreported23.3%
Earlier months
American Silver Eagle 1 oz: the Mint's monthly sales beside the premium: earlier months
MonthCoinsOuncesStatusPremium
May 20241,748,0001,748,000 ozreported24.1%
April 20242,502,0002,502,000 ozreported25.0%
March 20241,700,0001,700,000 ozreported24.8%
February 20241,700,0001,700,000 ozreported20.0%
January 20244,900,0004,900,000 ozreported19.3%
December 2023525,000525,000 ozreported19.1%
November 20232,378,0002,378,000 ozreported22.0%
October 20233,938,0003,938,000 ozreported25.8%
September 20232,970,0002,970,000 ozreported24.8%
August 20233,124,0003,124,000 ozreported28.3%
July 20232,091,0002,091,000 ozreported42.2%
June 20231,482,0001,482,000 ozreported66.4%
May 20231,593,0001,593,000 ozreported76.0%
April 2023900,000900,000 ozreported73.3%
March 2023900,000900,000 ozreported56.9%
February 2023900,000900,000 ozreported44.6%
January 20233,949,0003,949,000 ozreported41.7%
December 202259,00059,000 ozreported51.4%
November 20221,407,0001,407,000 ozreported80.8%
October 20221,258,0001,258,000 ozreported93.9%
September 2022850,000850,000 ozreported74.1%
August 2022850,000850,000 ozreported69.5%
July 2022850,000850,000 ozreported67.9%
June 2022925,000925,000 ozreported60.4%
May 20221,350,0001,350,000 ozreported66.6%
April 2022850,000850,000 ozreported58.9%
March 20221,100,0001,100,000 ozreported51.0%
February 20221,500,0001,500,000 ozreported38.3%
January 20225,001,0005,001,000 ozreported38.4%
December 202100 oz0 reported39.5%
November 20211,523,5001,523,500 ozreported40.6%
October 20211,076,0001,076,000 ozreported47.0%
September 20212,735,0002,735,000 ozreported37.0%
August 20213,930,0003,930,000 ozreported36.9%
July 20213,104,0003,104,000 ozreported39.6%
June 20212,800,0002,800,000 ozreported49.9%
May 202100 oz0 reported46.6%
April 20211,053,0001,053,000 ozreported42.6%
March 20214,087,0004,087,000 ozreported42.5%
February 20213,191,5003,191,500 ozreported46.3%
January 20214,775,0004,775,000 ozreported16.8%
December 2020751,000751,000 ozreported13.8%
November 20204,805,0004,805,000 ozreported17.6%
October 20203,397,0003,397,000 ozreported19.9%
September 20202,958,5002,958,500 ozreported24.0%
August 20204,477,0004,477,000 ozreported31.8%
July 20201,084,5001,084,500 ozreported35.5%
June 20201,398,0001,398,000 ozreported40.8%
May 2020490,000490,000 ozreported60.9%
April 2020750,000750,000 ozreported60.6%
March 20205,482,5005,482,500 ozreported28.0%
February 2020650,000650,000 ozreported13.7%
January 20203,846,0003,846,000 ozreported14.0%
December 201900 oz0 reported14.5%
November 2019463,000463,000 ozreported14.6%
October 20191,110,5001,110,500 ozreported14.3%
September 20191,021,0001,021,000 ozreported14.0%
August 20191,007,0001,007,000 ozreported14.2%
July 20191,240,0001,240,000 ozreported15.5%
June 20191,035,0001,035,000 ozreported16.5%
May 2019866,000866,000 ozreported16.9%
April 20191,196,0001,196,000 ozreported16.6%
March 2019850,000850,000 ozreported16.5%
February 20192,057,5002,057,500 ozreported16.0%
January 20194,017,5004,017,500 ozreported15.7%
December 2018490,000490,000 ozreported16.1%
November 20181,645,0001,645,000 ozreported16.5%
October 20181,430,0001,430,000 ozreported16.6%
September 20182,897,5002,897,500 ozreported18.4%
August 20181,530,0001,530,000 ozreported16.2%
July 2018885,000885,000 ozreported14.4%
June 2018435,000435,000 ozreported14.0%
May 2018380,000380,000 ozreported14.1%
April 2018915,000915,000 ozreported14.1%
March 2018915,000915,000 ozreported13.7%
February 2018942,500942,500 ozreported11.7%
January 20183,235,0003,235,000 ozreported13.0%
December 2017742,000742,000 ozreported14.6%
November 2017385,000385,000 ozreported12.8%
October 20171,040,0001,040,000 ozreported13.9%
September 2017320,000320,000 ozreported13.4%
August 20171,025,0001,025,000 ozreported14.2%
July 20172,320,0002,320,000 ozreported15.6%
June 2017986,000986,000 ozreported14.9%
May 20172,455,0002,455,000 ozreported14.2%
April 2017835,000835,000 ozreported13.5%
March 20171,615,0001,615,000 ozreported13.9%
February 20171,215,0001,215,000 ozreported13.5%
January 20175,127,5005,127,500 ozreported15.5%
December 2016240,000240,000 ozreported15.4%
November 20163,061,0003,061,000 ozreported14.7%
October 20163,825,0003,825,000 ozreported13.6%
September 20161,675,0001,675,000 ozreported12.5%
August 20161,280,0001,280,000 ozreported12.4%
July 20161,370,0001,370,000 ozreported11.7%
June 20162,837,5002,837,500 ozreported14.0%
May 20164,498,5004,498,500 ozreported14.4%
April 20164,072,0004,072,000 ozreported15.2%
March 20164,106,0004,106,000 ozreported17.4%
February 20164,782,0004,782,000 ozreported17.8%
January 20165,954,5005,954,500 ozreported19.3%
December 20152,333,5002,333,500 ozreported21.9%
November 20154,824,0004,824,000 ozreported19.1%
October 20153,788,0003,788,000 ozreported
September 20153,804,5003,804,500 ozreported29.6%
August 20154,935,0004,935,000 ozreported21.7%
July 20155,529,0005,529,000 ozreported20.8%
June 20154,840,0004,840,000 ozreported14.7%
May 20152,023,5002,023,500 ozreported14.2%
April 20152,851,5002,851,500 ozreported14.4%
March 20153,519,0003,519,000 ozreported14.5%
February 20153,022,0003,022,000 ozreported16.3%
January 20155,530,0005,530,000 ozreported15.5%
December 20142,459,0002,459,000 ozreported16.7%
November 20143,426,0003,426,000 ozreported19.1%
October 20145,790,0005,790,000 ozreported15.6%
September 20144,140,0004,140,000 ozreported13.6%
August 20142,087,5002,087,500 ozreported12.2%
July 20141,975,0001,975,000 ozreported12.0%
June 20142,692,0002,692,000 ozreported12.8%
May 20143,988,5003,988,500 ozreported13.4%
April 20143,569,0003,569,000 ozreported12.7%
March 20145,354,0005,354,000 ozreported13.6%
February 20143,750,0003,750,000 ozreported16.4%
January 20144,775,0004,775,000 ozreported17.0%
December 20131,200,0001,200,000 ozreported18.5%
November 20132,300,0002,300,000 ozreported18.3%
October 20133,087,0003,087,000 ozreported14.0%
September 20133,013,0003,013,000 ozreported12.8%
August 20133,625,0003,625,000 ozreported
July 20134,406,5004,406,500 ozreported
June 20133,275,0003,275,000 ozreported
May 20133,458,5003,458,500 ozreported
April 20134,087,0004,087,000 ozreported
March 20133,356,5003,356,500 ozreported
February 20133,368,5003,368,500 ozreported
January 20137,498,0007,498,000 ozreported

The U.S. Mint did not report a figure for December 2025.

December is usually the Mint’s slowest month for bullion sales, about a third of a typical month for the one-ounce coins since 2013, and in some years the Mint reports no December sales at all. The Mint’s practice is to shift production to the next year’s coins late in the year; its file states no reason for any month.

bullion coin sales to Authorized Purchasers, not production, not retail demand

Source: United States Mint. Updated after each of the Mint's monthly postings; latest month June 2026.

Sources and citation

Retail Premium Index (SilverTrade), 90% junk silver ($1 face value) and American Silver Eagle 1 oz, August 2026. silvertrade.com/premiums/

Captured 31 Aug 2026, dataset sequence 2.

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

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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