SPOT is the cost...buying, or selling of natural/unmolded silver....to get into a coin, many things have to occur....these things that occur cost money....desirability also raises the price....quantiles, which lead to desirability will call for many folks to pay more....look at Mexican Libertaids….they always bring more than Eagles...there is not a way, that I know of, to buy silver at spot....you simply do not have the buying power, and, if you did, you would have something, more than likely, that no one would want...therefore you buy bars, eagles, Libertads….or whatever you choose....to think that a mint, such as the US mint, would buy at spot, convert the silver into "slabs" then produce a coin, and sell it to you at "spot" would be unrealistic....