I am starting to monitor the premiums every day, you can find the charts here:
With the 10% smack down of silver today, owners of silver are in a deep hole now. But there is some light at the end of the tunnel. The premiums on junk silver skyrocketed to 25% (Chart 1). That means that the physical market is ignoring the futures market. So, buy more!
Some of the junk silver bags are even sold out on APMEX.
The premium on the First Majestic Silver shop on silver jumped to 25% too.
APMEX premiums skyrocket to 20% (Chart 3).
Meanwhile, Shanghai silver premiums are going to a high of 5% (since I monitored it) and 1% for gold.
I don't think these premiums are sustainable at all.
Disclosure: I am long AGQ.