The U.S. Mint charges $2 per coin to its Authorized Purchasers no matter the price of silver, so a lower silver price means the U.S. Mint fabrication charge and dealer mark ups result in a higher premium. All things equal, a higher price, lowers the premium percentage.
Sales of silver have been proportionally far higher than sales of gold coins at the U.S. Mint in recent years. That trend continued in 2017. The silver to gold sales ratio in 2014 was over 100:1 in 2014 and in 2015 it was 75:1.
Silver To Gold Sales Ratio 2008 -2017
Gold Silver Ratio
Gold rose over 13% against the dollar in 2017, while silver rose 7%. As a result, the gold silver ratio rose again in 2017. The gold silver ratio rose to a near a all time high of over 80 to 1 and closed the year around 77:1.
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