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 Lakewood 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.

La Plaza Supermarket

13609 Lakewood Heights Blvd, Lakewood, OH 44107

(216) 777-1978

La Plaza Supermarket

13609 Lakewood Heights Blvd, Lakewood, OH 44107

(216) 777-1978

La Plaza Supermarket

13609 Lakewood Heights Blvd, Lakewood, OH 44107

(216) 777-1978

Gold Into Cash

11928 Madison Ave, Lakewood, OH 44107

(216) 385-6373

Keith Jewelers

15502 Madison Ave, Lakewood, OH 44107

(216) 226-2616

Charlees Place

1602 Parkwood Rd, Lakewood, OH 44107

(216) 221-3807

Broestl & Wallis Fine Jewelers

14410 Madison Ave, Lakewood, OH 44107

(216) 221-1434

Adrian Michael Jewelers

13609 Lakewood Heights Blvd, Lakewood, OH 44107

(216) 476-8096

Marlen Jewelers

19525 Detroit Rd, Rocky River, OH 44116

(440) 331-9004

Adrian Michael Jewelers

21645 Center Ridge Rd Ste B, Rocky River, OH 44116

(440) 331-9300

Gslk Inc

22727 Vine Ct, Rocky River, OH 44116

(440) 895-1033

Jewel Brite

3876 Spencer Rd, Rocky River, OH 44116

(440) 356-4244

Myron Xenos

1260 Smith Crt, Rocky River OH, 44116, Rocky River, OH 44116

(440) 333-3444

Gold Max By Diana

19059 Lake Rd, Rocky River, OH 44116

(440) 409-0011

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.