Two Owensboro businesses say they’ve seen an uptick in silver transactions as prices for the precious metal continue to rise — driven by global instability, growing technological demand, and investor speculation.
Barrett Saalwaechter, who operates Bullets Pawn Guns and Jewelry, and Kevin Bruner of Bruner’s Collectables both say their shops have experienced increased activity as more people bring in silver to sell or pawn.
“We’re constantly buying silver and gold — jewelry, bullion, coins, even old silverware,” Saalwaechter said. “People are hearing it’s worth something again, and they’re wanting to cash in.”
Bruner, whose family has operated Bruner’s Collectables on Washington Avenue for more than six decades, agreed.
“We’ve bought and sold a lot of silver over the last six to eight months,” he said. “Some people are cashing out because they bought earlier and made a profit. Others are still trying to get in, thinking the price isn’t done climbing.”
According to the Associated Press, the spot price of silver has risen sharply in 2025, recently topping $70 an ounce after hovering around $25 last year — a jump of more than 130%. While the market has cooled slightly in recent days, silver remains at some of its highest levels in decades.
Much of the growth, Bruner said, is tied to industrial and technological use.
“There’s only so much silver in the world, and the demand just keeps going up,” he said. “Solar panels, electric vehicles, AI data centers — they all use silver in their components. That, combined with geopolitical tension and inflation fears, is pushing people to metals.”
Saalwaechter echoed those thoughts, adding that several silver mines have reportedly dried up, creating additional pressure on supply.
“Even if they open new mines, it takes time before they produce anything,” he said. “And a lot of this market is speculation — people betting it’s going higher and driving it up just by their buying activity.”
Bruner noted this isn’t the first silver spike he’s seen. He pointed to previous peaks in 1980 and 2011, when prices briefly reached nearly $50 an ounce. Adjusted for inflation, those spikes are comparable to today’s surge.
At Bullets Pawn, Saalwaechter said customers have been bringing in coins, bars, jewelry, and silver flatware. While some opt to sell outright, others choose to pawn their items, taking out a short-term loan with the option to retrieve their silver later.
“It’s a good option if you need quick cash but think silver might still go up,” he said.
Both shops work with local and national buyers as well as refineries. Bruner said his store maintains a steady base of collectors but also ships silver to end-users across the U.S.
“We’ve been in business 62 years now,” Bruner said. “People come to us from Nashville, Bowling Green, even Indianapolis. I think they appreciate our experience.”
Bruner’s Collectables is located at 341 Washington Avenue, across from Old Hickory Bar-B-Que. Bullets Pawn is located at 18th and JR Miller Boulevard.
Though both shop owners caution that silver markets can be unpredictable, they expect interest to remain high in the near term.
“You can’t just manufacture more silver,” Bruner said. “At some point, the scarcity and demand are going to force prices even higher.”
