Market Calendar
The Retail Premium Index

Silver Libertad Premiums Relative to Spot, Month by Month

In August 2026 the Mexican Silver Libertad 1 oz carried 20.3% over spot, or $11.91 an ounce over the metal value, against 3.4% for the silver composite in the same month and the reading sits in the 20th percentile of the product's own history.

Retail Premium Index, August 202620.3%$11.91 per ounce over spot20th percentile of its own history
August 20261 of 12 silver benchmarks this month
All-history average37.5%93 months
Retail Premium Index silver composite, August 20263.4%

The year's range so far8.7% in January 2026 to 20.3% in August 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
-50.0%0.0%50.0%100.0%150.0%April 2013April 2015December 2016August 2018April 2020December 2021August 2023April 2025
See the figures
Mexican Silver Libertad 1 oz and Silver composite, by month
CategoryMexican Silver Libertad 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 201417.3%8.5%
September 201420.8%9.1%
October 201423.9%12.8%
November 201427.0%17.1%
December 201428.0%15.9%
January 201513.8%
February 201514.1%
March 201525.0%13.9%
April 201522.6%13.8%
May 201522.2%14.2%
June 201518.9%14.7%
July 201523.7%18.7%
August 201528.3%19.4%
September 201534.9%20.3%
October 201553.8%17.1%
November 201561.0%15.5%
December 201532.5%15.9%
January 201615.2%
February 201614.2%
March 201613.3%
April 201621.5%13.8%
May 201620.9%13.7%
June 201621.7%12.5%
July 201619.6%10.1%
August 201621.7%11.0%
September 201620.6%9.8%
October 201619.4%11.1%
November 201626.5%11.9%
December 201618.7%11.4%
January 201711.5%
February 20178.9%
March 20179.1%
April 201726.6%10.9%
May 201726.2%11.6%
June 201724.6%11.2%
July 201733.0%11.8%
August 201722.8%10.9%
September 201730.1%10.6%
October 201732.4%8.1%
November 20178.0%
December 20177.7%
January 20188.2%
February 201821.2%6.3%
March 201821.0%7.9%
April 201820.5%11.2%
May 201826.4%11.2%
June 201819.0%10.5%
July 201819.3%9.8%
August 201822.0%10.4%
September 201823.6%8.6%
October 201825.7%12.8%
November 201829.0%11.0%
December 201812.3%
January 201911.9%
February 201928.8%11.8%
March 201926.4%11.7%
April 201929.5%11.2%
May 201928.2%11.0%
June 201930.2%10.6%
July 201930.7%11.2%
August 201924.7%10.2%
September 201919.6%10.0%
October 20199.0%
November 201919.8%10.8%
December 201919.4%8.5%
January 202018.9%10.6%
February 202015.9%10.1%
March 202065.8%16.6%
April 202037.8%38.8%
May 202029.6%
June 202017.8%
July 202061.8%16.8%
August 202029.5%15.8%
September 202033.5%15.1%
October 202013.8%
November 202010.7%
December 202044.1%9.3%
January 202144.8%11.1%
February 202141.8%20.1%
March 202120.6%
April 202122.9%
May 202156.2%20.2%
June 202162.0%18.8%
July 202116.7%
August 202116.1%
September 202116.1%
October 202117.2%
November 202161.4%15.3%
December 2021123.5%17.8%
January 2022112.0%17.0%
February 2022107.6%16.9%
March 2022115.3%19.3%
April 2022118.4%24.8%
May 2022135.6%27.5%
June 202224.6%
July 202224.8%
August 2022100.8%25.8%
September 2022103.6%28.9%
October 2022103.2%31.9%
November 202295.5%30.8%
December 202285.4%17.9%
January 202369.0%15.9%
February 202372.5%15.5%
March 202362.3%18.3%
April 202357.3%20.4%
May 202358.6%19.4%
June 202364.3%17.5%
July 202393.8%16.6%
August 202316.8%
September 202313.2%
October 202399.6%14.0%
November 202341.5%13.9%
December 202340.0%14.8%
January 202439.6%14.9%
February 202441.5%14.1%
March 202438.5%13.0%
April 202425.6%10.6%
May 202422.9%9.4%
June 202425.0%10.4%
July 202422.8%10.2%
August 202422.8%9.6%
September 202431.3%9.6%
October 202418.7%9.4%
November 202419.8%9.1%
December 202420.7%9.6%
January 202520.8%6.9%
February 202519.2%6.8%
March 202518.8%6.5%
April 202521.0%7.7%
May 202521.0%9.8%
June 202524.6%6.9%
July 202527.0%5.5%
August 202521.4%6.1%
September 202521.4%4.8%
October 202518.0%7.8%
November 202517.7%5.7%
December 202517.1%5.9%
January 20268.7%7.5%
February 202613.9%10.9%
March 202613.3%7.6%
April 202615.7%6.0%
May 202613.6%6.1%
June 20263.5%
July 202618.7%7.7%
August 202620.3%3.4%
Monthly premium over spot, August 2014 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.

Silver premiums | Compare with Silver Eagle

Look up a month

The month's premium
20.3% · $11.91/oz
2026 range
8.7%-20.3%

What moves this premium

The Casa de Moneda de México's one-ounce silver bullion coin, struck for Banco de México, issued since 1982 at .999 fine and, unusually, with no face value. Libertad issues are small and irregular, and the coin has a following among buyers who want the design, so its premium has historically been among the most volatile in this index. Read its figures with that thinness in mind: a spike is often supply of the coin, not the silver market.

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 Mexican Silver Libertad 1 oz

Issuer
Casa de Moneda de Mexico for Banco de Mexico
Product type
Government-issued bullion coin
Silver content
1 troy oz
Fineness
.999
Legal tender
Yes
Face value
None (legal tender by weight)
Country
Mexico

Premium benchmark: standard bullion 1 oz Silver Libertad of any year; proofs, reverse proofs, other sizes, graded coins and collector sets are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

Why do Silver Libertads carry a higher premium than other silver coins?

The Libertad is struck in small and irregular numbers next to the volume sovereign coins, and it has a following among buyers who want the design, so demand for this coin sits on top of demand for the silver. Its premium has historically run above the generic round and, in many months, above the other sovereign coins in this index.

What is a normal Silver Libertad premium?

There is no single normal, and the chart above is the reason. Read the all-history average in the table as the centre of gravity.

Does a Silver Libertad have a face value?

No. It is unusual among sovereign silver coins in carrying no denomination at all. The Mexican Mint strikes it for Banco de Mexico, and it is legal tender in Mexico by its silver weight rather than by a stamped number, which is why the facts below show the face value as none.

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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