Falling prices and low premiums did prompt strong retail buying in the markets for physical bullion in the past week.

The market is presenting the best opportunity to buy popular products in a very long time. Spot prices are the lowest they have been since December, but premiums are the lowest they have EVER been in more than a decade.

Consider pre-1965 90% silver coins, for example.

Silver bottomed under $14/oz in 2015, but premiums on silver dimes, quarters, and half dollars were north of $5/oz at the time. Investors had to spend close to $19/oz to buy those coins. Today they can be purchased for well under $17/oz – only a few cents over spot for larger orders.

Silver Eagle premiums are at generational lows as well. Random year Silver Eagles are selling for as low as $2.05 over spot, for example​.