Ring out the old: The cycloisomerization of alkynylsilylenolethers proceeds at ambient temperature under the mild conditions of silver catalysis (see scheme). Mono‐ or bicyclic spiro compounds can be obtained by 5‐exo‐dig reactions. Trapping the vinyl silver species with an iodide source, such as N‐iodosuccinimide (NIS), afforded the alkenyl iodide derivatives.