noun
pl. -·ums- a reward or prize, esp. one offered free or at a special low price as an added inducement to buy or do something; bonus
- an additional amount paid or charged; specif.,
- an amount paid for a loan in addition to interest
- an amount paid, as for stock, above the nominal or par value
- additional wages paid as for overtime or dangerous work
- a payment; specif.,
- the amount payable or paid, in one sum or periodically, for an insurance policy
- Now Rare a fee paid for instruction in a trade, etc.
- a fee paid by a borrower of stock to the lender, as in short selling
- very high value: to put a premium on punctuality
- Econ. the amount by which one form of money exceeds another (of the same nominal value) in exchange value, or buying power
Origin of premium
Classical Latin praemium, reward, recompense from prae-, before + emere, to take: see pre- and redeem rated as superior in quality and sold at a higher price
premium Idioms
at a premium
- at a value or price higher than normal
- very valuable, usually because of scarcity
