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Thanks. I actually found them on Amazon right after I posted and ordered a set. Through the magic of Amazon Prime, and my good fortune to be just miles away from an Amazon hub, they were delivered in one day.

The caps are a rubber/silicone material and attach by simple friction upon the Lighting connector (which I presumed based on the images on Amazon). While they don't attach with the satisfying "click" of the magnet the original does, they're otherwise the same size and serve their purpose.

The colors are a nice touch, too, for those who like to customize.

I'll probably leave my original white magnetic cap on for now, but may change it up every now and then.
 
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Just paid $10.81 through Apple support
 

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I know the cap isn't just a plain hollow plastic dome but shaped inside to protect the Lightning connector component and there's a magnet too inside it seems, but $27 does seem a bit much. I suppose the Pencil isn't manufactured in great enough quantity right now either to have extra production runs for inventory of parts.

With the connector so exposed without it though it's definitely something you would want to keep protected when not in charging mode. Glad I bought Cozy's PencilCozy tethered device so at least I don't loose mine. Apparently well worth the few dollars it cost for the Cozy if that's the replacement cost of the cap!

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Bought the PencilCozy along with the Pencil lightning adapter (another easily misplaced or lost piece) for $9.99 for the combo pack. You can buy it separately for 7.99 (or maybe less on Amazon) but for an extra $2, the direct from the manufacturer combo seemed like the best deal. Cheap first class shipping in padded envelope too which was appreciated and keeps cost down.
https://cozy-industries.com/collections/frontpage/products/pencilcozy-combo-pack
Just ordered one for my wife.She most likely will lose the original cap so went ahead and ordered.
 
Eventually we will all lose these little gems. Mine finally disappeared a couple days ago whilst camping. Went to the Apple Store in Southampton (UK) and they don't stock them for general sale (weird!). I had to get a Genius Bar appointment, which was booked immediately and I saw someone within three minutes. They had one of these in stock, which I then bought for UK£8. I have also ordered a set of Apple Pencil accessories from eBay that includes a small rubber connector that holds the cap to the Pencil when it is detached.
 
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Not sure why Apple didn't put a couple threads on the cap so you can turn it once to lock it into place. Checkmate, engineers! Problem solved.
 
I lost mine today at the park, even with it tethered. Apple support says $28 shipped. Nearest Apple store is 5 hours away but turns out we are headed to the coast next weekend so going to see if I can get an appointment in store while we are there. Ordered a new kit with tether more like the cozy above and extra cap in case I don’t get the Apple one or lose it again and a couple other items so hopefully that will hold better.
 
I lost mine today at the park, even with it tethered. Apple support says $28 shipped. Nearest Apple store is 5 hours away but turns out we are headed to the coast next weekend so going to see if I can get an appointment in store while we are there. Ordered a new kit with tether more like the cozy above and extra cap in case I don’t get the Apple one or lose it again and a couple other items so hopefully that will hold better.

I will buy the third-party ones from Amazon. I checked the reviews and most of them said they are good as the original. I do not want to spend 18£ just for another cap.
 
So I called the Apple store to ensure the cap is in stock for when we go on our trip this weekend. It is but they cannot put one aside or guarantee it will be in stock when we get there as I am not asking in person. They suggested I find a friend who can go in person to an Apple store with my serial number and arrange for it to be picked up at the store we are visiting on Saturday. You would think you could arrange these things from afar. Booked an appointment for Saturday anyways and hopefully it will work.
 
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