Market Calendar
The Retail Premium Index

Silver Kangaroo Premiums Relative to Spot, Month by Month

In August 2026 the Australian Silver Kangaroo 1 oz carried 7.9% over spot, or $5.21 an ounce over the metal value, against 3.4% for the silver composite in the same month and the reading sits in the 9th percentile of the product's own history.

Retail Premium Index, August 20267.9%$5.21 per ounce over spot9th percentile of its own history
August 20264 of 12 silver benchmarks this month
1-year average7.9%
All-history average14.1%132 months
Retail Premium Index silver composite, August 20263.4%

The year's range so far6.2% in May 2026 to 10.0% in February 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
0.0%10.0%20.0%30.0%40.0%50.0%April 2013April 2015December 2016August 2018April 2020December 2021August 2023April 2025
See the figures
Australian Silver Kangaroo 1 oz and Silver composite, by month
CategoryAustralian Silver Kangaroo 1 ozSilver composite
April 201316.0%
September 201310.0%
October 20139.5%
November 20139.5%
December 20138.1%
January 20149.7%
February 20148.5%
March 20148.9%
April 20149.2%
May 201410.0%
June 201410.0%
July 20147.4%
August 20148.5%
September 20149.1%
October 201412.8%
November 201417.1%
December 201415.9%
January 201513.8%
February 201514.1%
March 201513.9%
April 201513.8%
May 201514.2%
June 201514.7%
July 201518.7%
August 201519.4%
September 201520.7%20.3%
October 201518.3%17.1%
November 201517.8%15.5%
December 201518.8%15.9%
January 201616.5%15.2%
February 201615.6%14.2%
March 201617.0%13.3%
April 201615.5%13.8%
May 201615.8%13.7%
June 201614.9%12.5%
July 201614.3%10.1%
August 201612.2%11.0%
September 201611.5%9.8%
October 201611.9%11.1%
November 201613.2%11.9%
December 201614.3%11.4%
January 201713.4%11.5%
February 201712.1%8.9%
March 201712.4%9.1%
April 201713.3%10.9%
May 201712.6%11.6%
June 201711.9%11.2%
July 201712.8%11.8%
August 201712.9%10.9%
September 201713.6%10.6%
October 201713.0%8.1%
November 201712.7%8.0%
December 201711.6%7.7%
January 201811.7%8.2%
February 201813.2%6.3%
March 201811.8%7.9%
April 201811.2%11.2%
May 201812.2%11.2%
June 201811.7%10.5%
July 201812.0%9.8%
August 201812.4%10.4%
September 201811.9%8.6%
October 201812.9%12.8%
November 20189.3%11.0%
December 201811.8%12.3%
January 201912.2%11.9%
February 201912.0%11.8%
March 201912.2%11.7%
April 201913.4%11.2%
May 201912.8%11.0%
June 201911.7%10.6%
July 201913.4%11.2%
August 201910.0%10.2%
September 201910.8%10.0%
October 201910.4%9.0%
November 201912.3%10.8%
December 201910.4%8.5%
January 202011.1%10.6%
February 202011.2%10.1%
March 202016.6%16.6%
April 202024.3%38.8%
May 202038.6%29.6%
June 202017.8%17.8%
July 202014.6%16.8%
August 202015.8%15.8%
September 202015.1%15.1%
October 202014.7%13.8%
November 202013.8%10.7%
December 202014.6%9.3%
January 202114.2%11.1%
February 202119.3%20.1%
March 202122.9%20.6%
April 202121.6%22.9%
May 202119.3%20.2%
June 202118.6%18.8%
July 202118.5%16.7%
August 202117.4%16.1%
September 202116.7%16.1%
October 202117.4%17.2%
November 202115.2%15.3%
December 202115.6%17.8%
January 202215.8%17.0%
February 202217.2%16.9%
March 202218.1%19.3%
April 202223.0%24.8%
May 202224.5%27.5%
June 202223.1%24.6%
July 202225.0%24.8%
August 202223.8%25.8%
September 202225.3%28.9%
October 202232.3%31.9%
November 202225.8%30.8%
December 202218.6%17.9%
January 202316.1%15.9%
February 202316.8%15.5%
March 202319.5%18.3%
April 202321.2%20.4%
May 202319.7%19.4%
June 202317.5%17.5%
July 202316.6%16.6%
August 202317.6%16.8%
September 202314.7%13.2%
October 202314.5%14.0%
November 202314.4%13.9%
December 202314.4%14.8%
January 202415.2%14.9%
February 202415.1%14.1%
March 202413.0%13.0%
April 20249.4%10.6%
May 20248.9%9.4%
June 20249.7%10.4%
July 202411.0%10.2%
August 20249.3%9.6%
September 202411.8%9.6%
October 202410.4%9.4%
November 20248.9%9.1%
December 20249.5%9.6%
January 20255.1%6.9%
February 20254.8%6.8%
March 20256.7%6.5%
April 20258.0%7.7%
May 20259.0%9.8%
June 20257.1%6.9%
July 20256.6%5.5%
August 20256.9%6.1%
September 20257.1%4.8%
October 20258.3%7.8%
November 20256.1%5.7%
December 20256.8%5.9%
January 20267.4%7.5%
February 202610.0%10.9%
March 20268.8%7.6%
April 20269.7%6.0%
May 20266.2%6.1%
June 20266.5%3.5%
July 20269.4%7.7%
August 20267.9%3.4%
Monthly premium over spot, September 2015 to August 2026, against the silver composite.

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 Philharmonic

Look up a month

The month's premium
7.9% · $5.21/oz
2026 range
6.2%-10.0%

What moves this premium

The Perth Mint's one-ounce silver bullion coin, issued in this form since 2016 at .9999 fine with a one-dollar face value and a micro-laser security mark. Kangaroos entered the US market as a low-premium sovereign alternative and have largely stayed there. Their premium has usually tracked the Philharmonic and Maple more closely than the Eagle. The benchmark covers standard bullion 1 oz Kangaroos of any year; proofs, graded coins and special releases are left out where they can be identified.

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 Australian Silver Kangaroo 1 oz

Issuer
The Perth Mint
Product type
Government-issued bullion coin
Silver content
1 troy oz
Fineness
.9999
Legal tender
Yes
Face value
One Australian dollar
Country
Australia

Premium benchmark: standard bullion Australian Silver Kangaroo; proofs, coloured and themed issues, graded coins and special releases are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

Is the Silver Kangaroo the same coin as the Silver Kookaburra?

No. Both are one ounce silver coins from the Perth Mint, but the Kookaburra is a separate series with a reverse design that changes every year, and it is not one of the benchmark products in this index. The Kangaroo is the mint's standard bullion coin, and the series on this page covers the standard bullion issue of any year.

Where does the Silver Kangaroo premium sit against the other sovereign coins?

It has usually tracked the lower-premium sovereigns rather than the American coin, and the whole group has usually moved together. The comparator toggle above puts it against a peer so those months stand out.

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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