This morning, the price of silver fell to a surprising 15-month low. As of this writing, silver spot was hovering around $15.35. This represents a drop of $1.50 per ounce over the past two weeks -- and a full $5-$6 per ounce less than where silver was a year ago. Of course, it's also a major discount relative to the 2011 peak of nearly $50/oz in 2011.

What's causing this drop? Analysts point to two major factors. The first is the Federal Reserve, which appears willing to raise interest rates again later this year. This has buoyed the U.S. Dollar. Secondly, investors continue to feel optimistic about "paper" assets. Despite meager wage growth, questionable equity valuations, political turmoil and geopolitical tension, significant amounts of money continue to chase stocks.

For those looking to diversify their portfolios and hedge against these risks, now may be an excellent time to add silver your holdings. For now, you can take advantage of a rare combination: low spot and low premiums. However, if silver continues to trade at such discounted levels, these historically cheap premiums will not last. In the past week, we've noticed a dramatic uptick in physical silverdemand. As dealers' supplies continue to dwindle, premiums will be forced higher. Some products are already creeping higher.

You can still lock in top-quality silver products at the industry's best wholesale pricing. Act now while spot and premiums are low.