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 Hancock 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.

Prairie Gold Farms Inc

25458 410th Ave, Hancock, MN 56244

(320) 392-5405

Prairie Gold Farms Erwing

43074 250th St, Hancock, MN 56244

(320) 392-5407

Karrow Jewelers

628 Broadway St, Alexandria, MN 56308

(320) 763-3334

Karrow Jewelers

3015 Highway 29 S, Alexandria, MN 56308

(320) 763-5833

Hedine Jewelry Store

611 Broadway St, Alexandria, MN 56308

(320) 763-4940

Pan-O-Gold Baking Co

100 25th St SE, Willmar, MN 56201

(320) 214-7298

Kraning Jewelry

208 W Lincoln Ave, Fergus Falls, MN 56537

(218) 736-3678

Uniquely Ulstad

309 Main Ave S, Hankinson, ND 58041

(605) 323-9402

Gold-N-Silver Rare Coin

1615 Division St, Waite Park, MN 56387

(320) 259-0233

Robert's Fine Jewelry

300 4th Ave NE, Waite Park, MN 56387

(320) 253-8750

Trisko Jewelry Sculptures

1501 County Road 137, Waite Park, MN 56387

(320) 253-5346

EZ Payday Advance

400 9th Ave SE, Watertown, SD 57201

(605) 886-2500

Zales

1300 9th Ave SE, Watertown, SD 57201

(605) 886-6205

Fashions Plus

1300 9th Ave SE Ste 53, Watertown, SD 57201

(605) 886-3576

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.