Yes, but nothing will sell at a loss for any prolonged period of time. The price will stop dropping and/or the product will cease to become available if there is no demand at the lowest possible price point. Yes, there are "loss leaders" or free items in business where a grocery store or clothing store might sell something at a small loss to get people in the door and profit on all the other things they may buy. Yes, auto companies will sometimes sell their cars at break-even since they will make a ton of money on the loan financing. Sometimes there are merchandise clearances or even store closing liquidations with items sold at a loss or break-even. None of those are long term plans, though. That would be impossible. Suppose the aluminum for cans of CocaCola suddenly cost $5. They would be sold for at least $5.50. Sure, people might not buy them at that price, but the company couldn't sell them for any less. They wouldn't just sell them for $1 or $2 when the aluminum is costing them $5 and the soda + labor + marketing/storage/etc costs them a tiny bit also. It's simple econ. Likewise, the Metals mints couldn't sell coins and bars for less than they pay for the refined metal + labor + machinery costs of them... maybe for a short sale, but not for any sustained period of time. They would liquidate or close down... but most likely, they would just have to keep prices at least slightly above their profit line... even if that were ever well over spot. ...as Ipv explains it well below, we don't know what real mining + refine + minting + storage/marketing cost is for the precious metals mints. I have a feeling that that cost is always over-stated, but what I always hear is a few dollars below spot, typically. I have heard around $12USD per ounce as the cost on silver. Nobody really know. There must be some lower limit where they actually would lose money... and therefore be unable to sell it at that price point for any length of time. We obviously haven't gotten there yet, and it went below $12, we would therefore know those figures were not true. This is not possible for reasons stated above by Ivp. That is just smoke and mirrors. If mining + refine + mint cost for silver really was $15/oz, then you wouldn't see even ugly generic rounds or bars available (new ones) for any less than about $16/oz. In order to stay in business, the bullion site needs to cover storage, labor, utilities, marketing, etc fees... plus turn at least some kind of profit. They could only sell for a loss in the very short term (and that would be done in hopes of long term gains: new buyer specials, promotions, refer-a-friend, etc). The secondary market and private sellers are a different animal. They could sell used bullion and rounds from their collection for $10/oz or whatever they want (and some people who inherit it are happy to do just that), but new silver will always be limited by the production cost. It is simple business math for the mints and bullion dealers.