Market Calendar
The Retail Premium Index

10 oz Silver Bar Premiums Relative to Spot, Month by Month

In August 2026 the 10 oz silver bar carried 1.3% over spot, or $0.90 an ounce over the metal value, against 3.4% for the silver composite in the same month.

Retail Premium Index, August 20261.3%$0.90 per ounce over spotbelow every prior month of its own history
August 20269 of 12 silver benchmarks this month
1-year average5.9%
All-history average8.9%161 months
Retail Premium Index silver composite, August 20263.4%

The year's range so far1.3% in August 2026 to 9.7% in February 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
-10.0%0.0%10.0%20.0%30.0%40.0%50.0%January 2013October 2014July 2016April 2018January 2020October 2021July 2023April 2025
See the figures
10 oz silver bar and Silver composite, by month
Category10 oz silver barSilver composite
January 20137.1%
February 201311.9%
March 20136.2%
April 20136.8%16.0%
May 201311.5%
June 20138.1%
July 20136.6%
August 20136.4%
September 20136.2%10.0%
October 20134.1%9.5%
November 20134.5%9.5%
December 20134.4%8.1%
January 20145.1%9.7%
February 20145.8%8.5%
March 20145.6%8.9%
April 20145.2%9.2%
May 20145.4%10.0%
June 20144.5%10.0%
July 20144.9%7.4%
August 20145.3%8.5%
September 20144.9%9.1%
October 20147.1%12.8%
November 20147.8%17.1%
December 20147.1%15.9%
January 20157.8%13.8%
February 20157.9%14.1%
March 20156.4%13.9%
April 20157.1%13.8%
May 20158.1%14.2%
June 20156.2%14.7%
July 20157.0%18.7%
August 201511.7%19.4%
September 201511.2%20.3%
October 201510.9%17.1%
November 20158.8%15.5%
December 20159.6%15.9%
January 20168.2%15.2%
February 20169.1%14.2%
March 20166.3%13.3%
April 20166.9%13.8%
May 20166.7%13.7%
June 20166.1%12.5%
July 20166.1%10.1%
August 20164.8%11.0%
September 20165.4%9.8%
October 20165.7%11.1%
November 20165.9%11.9%
December 20165.4%11.4%
January 20176.3%11.5%
February 20175.8%8.9%
March 20176.1%9.1%
April 20175.3%10.9%
May 20175.2%11.6%
June 20175.8%11.2%
July 20175.7%11.8%
August 20175.4%10.9%
September 20175.1%10.6%
October 20175.3%8.1%
November 20175.3%8.0%
December 20174.8%7.7%
January 20185.9%8.2%
February 20185.1%6.3%
March 20185.8%7.9%
April 20185.5%11.2%
May 20185.2%11.2%
June 20185.7%10.5%
July 20184.3%9.8%
August 20185.1%10.4%
September 20184.9%8.6%
October 20184.8%12.8%
November 20186.5%11.0%
December 20186.9%12.3%
January 20197.2%11.9%
February 20196.8%11.8%
March 20196.3%11.7%
April 20197.2%11.2%
May 20196.7%11.0%
June 20195.7%10.6%
July 20195.0%11.2%
August 20194.9%10.2%
September 20194.6%10.0%
October 20194.5%9.0%
November 20196.0%10.8%
December 20195.4%8.5%
January 20204.7%10.6%
February 20205.0%10.1%
March 202011.0%16.6%
April 202028.1%38.8%
May 202020.1%29.6%
June 202017.8%17.8%
July 202016.4%16.8%
August 202016.3%15.8%
September 202011.8%15.1%
October 202010.1%13.8%
November 202010.7%10.7%
December 20207.9%9.3%
January 20219.3%11.1%
February 202120.1%20.1%
March 202124.0%20.6%
April 202125.1%22.9%
May 202118.6%20.2%
June 202117.0%18.8%
July 202113.8%16.7%
August 202112.0%16.1%
September 202113.9%16.1%
October 202114.2%17.2%
November 202115.3%15.3%
December 202116.6%17.8%
January 202213.5%17.0%
February 202213.2%16.9%
March 202214.6%19.3%
April 202220.3%24.8%
May 202216.5%27.5%
June 202219.1%24.6%
July 202218.9%24.8%
August 202217.4%25.8%
September 202219.0%28.9%
October 202223.2%31.9%
November 202217.9%30.8%
December 202213.9%17.9%
January 202311.9%15.9%
February 202312.4%15.5%
March 202315.8%18.3%
April 202319.6%20.4%
May 202319.1%19.4%
June 202315.9%17.5%
July 202311.4%16.6%
August 202310.4%16.8%
September 202310.6%13.2%
October 202310.1%14.0%
November 20238.7%13.9%
December 20239.1%14.8%
January 202410.4%14.9%
February 20246.8%14.1%
March 202410.4%13.0%
April 20248.1%10.6%
May 20247.6%9.4%
June 20247.0%10.4%
July 20245.0%10.2%
August 20246.4%9.6%
September 20246.9%9.6%
October 20244.6%9.4%
November 20245.9%9.1%
December 20246.0%9.6%
January 20256.7%6.9%
February 20256.5%6.8%
March 20254.2%6.5%
April 20257.5%7.7%
May 20256.6%9.8%
June 20254.8%6.9%
July 20253.6%5.5%
August 20255.3%6.1%
September 20255.3%4.8%
October 20256.2%7.8%
November 20254.3%5.7%
December 20253.5%5.9%
January 20267.8%7.5%
February 20269.7%10.9%
March 20264.9%7.6%
April 20266.1%6.0%
May 20266.6%6.1%
June 20267.0%3.5%
July 20268.1%7.7%
August 20261.3%3.4%
Monthly premium over spot, January 2013 to August 2026, against the silver composite. Months with very few sales are drawn like the others here and left out of the averages and the high.

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

Some months of this series were revised at the latest publish. See Revisions

Silver premiums | Compare with Silver Round

Look up a month

The month's premium
1.3% · $0.90/oz
2026 range
1.3%-9.7%

What moves this premium

.999 fine bars from private and government refiners, the mid-size retail unit between rounds and the 100 oz bar. Per ounce, premiums usually fall as bar size rises because the work of minting is spread over more metal; the 10 oz bar sits between the round and the 100 oz bar in that ladder. Its premium history shows how far bar premiums, normally quiet, moved in the physical squeezes of recent years when even generic metal ran short.

What miners pay to produce an ounce is the other half of the picture: see what the tracked producers spend against the metal price.Miner margins

About the 10 oz silver bar

Manufacturer
Various private and government refiners
Product type
Bullion bar
Silver content
10 troy oz
Fineness
.999, typically
Legal tender
No
Face value
None
Form
Cast or minted, varies by refiner

Premium benchmark: standard 10 oz silver bars of every refiner, cast and minted; themed and collector designs, poured art bars and graded pieces are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

Why does a 10 oz silver bar carry a lower premium than 1 oz coins?

Fabrication is charged per piece rather than per ounce, so one bar spreads the work of minting over ten ounces instead of one. There is no mint seigniorage and no legal-tender standing in the premium either, and the design is plain. That is why the 10 oz bar usually sits below the 1 oz rounds and well below the sovereign coins in this index.

Who makes 10 oz silver bars, and does the refiner change the premium?

Many refiners do, private and government-owned, and this series averages them all rather than following one maker. The series reads as the market for generic 10 oz silver, not for one brand.

Is a 10 oz silver bar as easy to sell as a coin?

Easy, not effortless. Bars trade on their silver content, and in normal markets dealers have historically bid for them close to melt, which is why the premium going in is small. That is not a promise: when heavy selling arrives the spread between bid and ask widens, and generic bars have at times been bid below the metal value of the silver in them.

How to read this page

The Retail Premium Index publishes the average premium paid on retail orders at SD Bullion, month by month, for each benchmark bullion product. A premium is what a buyer pays above the metal value of the piece, as a share of that value; a dollar figure is shown only where the record carries it. It includes the mint's and the distributor's charges as well as the dealer's, so it is not a measure of dealer margin.

A premium can also be negative: when the metal price moves very fast, some products have sold for less than the metal in them, and the series shows that as it happened.

Where next

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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