Finding someone to buy your silver items can take some time, so you need to make sure that you look around and find the best silver dealers Bingham Lake has to offer. This way, you can make sure that you get the best price possible for all of your valuables.

A good buyer will carefully assess all of your things to give you an accurate understanding of how much they are worth. You can then use this information to decide what to do. Selling your silver can earn you quite a bit from the right dealer.

Aigs

1112 8th Ave N, Saint James, MN 56081

(507) 621-9014

Kuehl's Coin Exchange

310 N State St, Fairmont, MN 56031

(507) 235-3886

Kuehl's Coin Exchange

PO Box 697, Fairmont, MN 56031

(507) 235-3886

Spirit Lake Silver & Gold

1509 18th St, Spirit Lake, IA 51360

(712) 336-5405

Silver Gold N Guns

2308 30th St, Spirit Lake, IA 51360

(712) 336-8403

A2Z Jewelry

905 9th St, Spirit Lake, IA 51360

(712) 301-9761

Iowa Great Lakes Coins

900 28th St, Spirit Lake, IA 51360

(712) 336-4618

Dalon Diamonds

1610 McMillan St, Worthington, MN 56187

(507) 372-5510

Rt & T

103 S 6th St, Estherville, IA 51334

(712) 362-4452

West Okoboji Pawn

1508 Terrace Park Blvd., Milford, IA 51351

(877) 254-6261

The Gold Shop, Inc.

1850 Adams St, Mankato, MN 56001

(651) 304-0321

Fw3 Coins

121 E Main St Ste 305, Mankato, MN 56001

(507) 550-1160

Quality Gold & Silver Trading Emporium

409 N Riverfront Dr, Mankato, MN 56001

(507) 625-8565

Butterfly of Life, Cancer Awareness Jewelry | Can

1660 Tullamore St. A, Mankato, MN 56001

(800) 418-9033

Tactics That Successful Silver Dealers Use

Silver is a commodity. That means that any single ounce of silver is worth the same as any other ounce of silver at the same purity level. It's been used as money in a variety of cultures and silver dealers use tactics to buy and sell silver and make a profit. Here is how they do it.

Wholesale Markup

Silver dealers are in business to make money and they often do it by buying silver coins or bullion at wholesale prices. Perhaps they were able to buy a silver coin for the rock bottom price of $15. When these coins become scarce in the market, the dealer may choose to offer them to a collector. Collectors pay a higher price and remove the coins from circulation. The dealer makes a profit on the markup over the wholesale price that he paid.

Replacement Cost Price

A dealer should never sell anything for less than the cost of what it would take to replace it. That's the philosophy of most successful dealers in metals. They take the long view and buy silver when it reaches a low. Let's use the same number we used above. Say they bought an ounce for $15.

That's a good buy because the price of silver typically goes for more than that. To gain a profit, the dealer will have to hold onto the bullion until the price rises. At that point, he must sell it at a price no lower than what it would cost him to replace it. If silver has risen to $30 an ounce, he's made a tidy profit when he sells.

The first tactic requires finding the right kind of buyer in order to make a profit. The second one requires patience while waiting for the market to change. Both can be very lucrative.