"Who cares if I pay a high premium now. Silver will go up so much in the future that I will still make money." This flawed logic is an example of you, the buyer, convincing yourself that you're not actually getting ripped off. You are convincing yourself why it is ok to overpay. Point number 1: You are assuming silver will go up in price. You do not know this. So, you should be careful about how much you pay. This applies to whether you are investing in silver to make money or storing your wealth in silver to hedge against inflation. Point 2: The higher the premium that you pay now, the higher the likelihood that you will either lose money when you sell, not make your money back when you sell, or make less money when you sell than if you had paid a lower premium in beginning. Please, people, do not convince yourself to overpay for precious metals. Pay as close to spot as possible.