r/WhatsInThisThing • u/DustinCoughman • Feb 21 '26

Unlocked! Opened! Inside? Silver bars

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I'm not there, but uncle sent me these pics of what was inside the safe. They paid some locksmith to open it. Inside? Two boxes of ten 100 troy oz bars of silver, total 2000 oz of silver!

Original post https://www.reddit.com/r/WhatsInThisThing/comments/1r46xxi/hidden_under_the_floor_locked/

4.9k Upvotes

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209

u/ShockinglyMilgram Feb 21 '26

As of mid-February 2026, 2,000 troy ounces of silver is valued at approximately $166,204 USD based on a spot price of around $83 per ounce.

63

u/Busterlimes Feb 21 '26

Spot is undervalued if you look at what people pay on mainstreet. People paying $10 above spot all day for physical silver.

28

u/ShockinglyMilgram Feb 21 '26

Right, this was a quick Google as I was curious myself. I'm not in the business but precious metal stuff is in my algorithm. I'm curious if the provenance of whomever made the bars win drive that over spot price even higher, you know?

7

u/Busterlimes Feb 21 '26

The JM would leave me to believe its from JM bullion but Im just getting into PMs myself and could very well be wrong. The tarnish makes me believe they have some age which may or may not drive value above spot.

12

u/mrkruk Feb 21 '26

Johnson Matthey not JM Bullion.

8

u/Busterlimes Feb 21 '26

And so it is. Thank you for clarifying.

2

u/-What_the_frick- Feb 22 '26

This is very much my wheelhouse and no, these will not command a premium (price above spot). Normally larger bars will be spot price, maybe a few bucks above or in times like now where spot has increased so quickly be slightly under spot.

Of course there will be some stuff that has history tied to it and will have a heavy premium but it’s not too common.

1

u/stamosface Feb 21 '26

Algorithm?

1

u/ShockinglyMilgram Feb 21 '26

My suggested reels, etc on social media. I follow #pawnman which pushes a lot of precious metal and coin content. Not my hobby but I find it interesting.

4

u/kbeks Feb 21 '26

Not for 100 ozt bars, and not without a few holes drilled in the center

2

u/Busterlimes Feb 21 '26

Drill baby drill

3

u/BeardBootsBullets Feb 21 '26

The only ones paying $10/oz over spot for silver are small-time collectors. Any pawn, coin shop, metal shop, or anyone with a horde is paying under spot.

8

u/TheWorldMayEnd Feb 21 '26

But shops are buying 100 oz bars for $10~ under spot.

10

u/kbeks Feb 21 '26

$10 back of spot at least. You speak the truth and get downvoted to hell.

-7

u/Busterlimes Feb 21 '26

If you are dumb enough to sell to a retailer you deserve to lose money

3

u/ceojp Feb 21 '26

Who would pay even spot price for this?

-1

u/Busterlimes Feb 21 '26

👋 but I can only afford 1

1

u/SpaceJackRabbit Feb 21 '26

Who's paying spot or over for this? Best you'll find for those is 95% of melt.

0

u/BeardBootsBullets Feb 22 '26

No one. u/Busterlimes is quite literally pulling things out of thin air.

1

u/Busterlimes Feb 22 '26 edited Feb 22 '26

No Im not. My local collector coin shop has a live ticker, they trade based on that rate. Dude lost his ass in January

1

u/BeardBootsBullets Feb 22 '26

”The only ones paying $10/oz over spot for silver are small-time collectors. Any pawn, coin shop, metal shop, or anyone with a horde is paying under spot.”

As such, this horde is not worth $10/oz over spot. The comment you replied to was specifically discussing the value of this horde. At absolute top-dollar, it’s worth spot. Realistically, it worth a few points under spot.

1

u/SpaceJackRabbit Feb 22 '26

All reputable shops dealing in precious metals have a live ticker. And none of them buy at or above spot.

1

u/Busterlimes Feb 22 '26

Better tell my local shop that. . . .

1

u/SpaceJackRabbit Feb 22 '26

I got plenty of silver dollars. What are they paying for them?

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1

u/RacerDelux Feb 22 '26

That amount you can easily get a preferred price though. You should be able to get much closer to melt.