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 Lake Elsinore 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.

Lake Elsinore Coin & Loan

31801 Mission Trl, Lake Elsinore, CA 92530

(951) 271-7641

Lake Elsinore Coin & Loan

31801 Mission Trl, Lake Elsinore, CA 92530

(951) 271-7641

Sun City Coin Gold & Silver

31897 Mission Trl, Lake Elsinore, CA 92530

(951) 674-7711

Lake Elsinore Coin

31897 Mission Trl, Lake Elsinore, CA 92530

(951) 674-1521

Frontera - Lake Elsinore

31768 Casino Dr, Lake Elsinore, CA 92530

(951) 674-5900

Ben's Jewelry & Loan

31736 Mission Trl # A, Lake Elsinore, CA 92530

(951) 674-4105

Elsinore's Buy & Sell

16655 Lakeshore Dr, Lake Elsinore, CA 92530

(951) 245-8153

Sun City Coin - CLOSED

31801 Mission Trl, Lake Elsinore, CA 92530

(951) 671-1521

Frontera - Perris

23261 Cajalco Rd, Perris, CA 92570

(951) 940-1343

PETES ASAP INSURANCE & REGISTRATION SVCS

2560 North Perris Blvd E2, Perris, CA 92571

(951) 657-9800

Gold Max USA

3150 Case Rd Ste M1, Perris, CA 92570

(877) 465-3629

Mikey's Gold & Silver

85 Ramona Expy, Perris, CA 92571

(951) 943-4999

Ed's Coins Located In Menifee Car Wash

26825 Newport Rd, Menifee, CA 92584

(951) 204-1629

Valley Goldmine Riverside

41690 Ivy St # B, Murrieta, CA 92562

(951) 219-9765

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.