What Is the Spot Price?
The spot price of silver is the current market price for immediate settlement. It is formed by trading in the London over-the-counter market, on futures exchanges such as COMEX (New York), and elsewhere.
This price reflects the balance of supply and demand and is the starting point for most silver transactions.
Why the Spot Price Matters
For anyone buying physical silver, knowing what the price is based on is your starting point. It lets you see how much you are paying above the market price.
Without a clear price basis, you risk:
- Paying inflated premiums without realizing it
- Not knowing how the price was set
- Falling victim to pricing opacity common in retail or pooled silver products
How It Works at EONA
EONA’s silver prices are based on the international spot price from a professional market-data provider, refreshed approximately every 10 to 15 minutes. When you buy silver through the platform:
- The price is based on the spot price plus a premium
- The price that applies is the one shown when you confirm
- You also pay a 1.00% commission plus 5% VAT on each purchase and sale
Sales are at the spot price minus a discount, with a commission. If the price data is more than 30 minutes old, trading is paused. See our Fees & Spread page.
How the Spot Price Differs From Your Total Price
The spot price is the starting point; your total purchase price includes:
- The premium to spot
- The 1.00% commission plus 5% VAT
- Storage is charged separately (1.00% per year, plus 5% VAT)
The key is transparency. At EONA, each component is shown so you know what you're paying for.
Published Pricing vs. Unclear Pricing
Some sellers quote silver prices without showing how they are built. They might use:
- Undisclosed price sources
- Bundled products with hidden fees
- Artificial spreads baked into the final quote
EONA publishes its pricing method and commission. The value of silver can rise or fall.