About the analyst

Russ Bega is the Chief Operating Officer of Harlan J. Berk, Ltd., a Chicago-based numismatic and precious metals firm. A rare coin specialist by trade, he entered the bullion market in 2021 and has since become the firm’s head bullion trader and a primary driver of its physical metals business.

In this role, Russ oversees pricing, trading, and inventory strategy across gold and silver products, with direct exposure to dealer bids, wholesale markets, and shifting physical premiums. Under his leadership, Harlan J. Berk, Ltd. transacts tens of millions of dollars annually in physical bullion, providing firsthand insight into how the market functions beyond published spot prices.

Russ’s work sits at the intersection of numismatics and bullion, combining a collector’s understanding of market nuance with the discipline of high-volume physical trading. His analysis emphasizes real-world liquidity, spreads, and product-level demand rather than speculative narratives or paper-market abstractions.

Through UnderSpot, Russ applies this experience to document and interpret trends in the physical precious metals market, with a focus on transparency, practical insight, and clear communication for dealers, investors, and informed buyers.