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 East Setauket 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.

Coin Galleries Of Oyster Bay

1377 Route 25A, East Setauket, NY 11733

(631) 246-8200

Rocky Point Jewelers

137 Main St, Stony Brook, NY 11790

(631) 751-3751

Mrcg

1239 N Country Rd, Stony Brook, NY 11790

(631) 941-9281

Page & Co Jewelers

2194 Nesconset Hwy Ste B, Stony Brook, NY 11790

(631) 444-5600

West End Coins

640 Belle Terre Rd, Port Jefferson, NY 11777

(631) 509-5595

Marie Richards

208 Emerson St, Port Jefferson, NY 11777

(631) 675-9234

Susan Rodgers Designs

116 E Main St # C, Port Jefferson, NY 11777

(631) 675-6210

Chris Silver Jewelry

109 Main St, Port Jefferson, NY 11777

(631) 642-0962

GoldFellow

5090 Nesconset Hwy, Port Jefferson Station, NY 11776

(631) 474-3300

Gold Coast Gold Buyer

1125 Patchogue Rd, Port Jefferson Station, NY 11776

(631) 509-4066

Jps Gold Palace

449 Hallock Ave, Port Jefferson Station, NY 11776

(631) 828-5126

Gold Coast Gold Buyer

1125 Rt 112, Port Jefferson Station, NY 11776

(631) 509-4040

A & D Gold & Silver

428 Lake Ave, Saint James, NY 11780

(631) 584-7070

All Island Jewelry and Loan

2394 Middle Country Rd, Centereach, NY 11720

(631) 863-9302

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.