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 Lubec 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.

My Hearts Desire

103 Main St Apt 13, Lubec, ME 04652

(207) 733-2536

Designs by Aaron Fine Jewelry and Repair

33 Dublin St, Machias, ME 04654

(207) 255-8316

Designs By Aaron

185 Dublin St, Machias, ME 04654

(207) 255-8316

Kendall's Fine Jewelers

293 Main St, Calais, ME 04619

(207) 454-8814

Proud American Trading Post

6 Point Street, Columbia Falls, ME 04623

(207) 483-6041

Charlotte's Creation's

90 Tunk Lake Rd, Sullivan, ME 04664

(207) 460-5850

Betsy's Jewelry & Gift Studio

1301 State Highway 102, Bar Harbor, ME 04609

(207) 288-8971

Willis & Sons

69 Main St, Bar Harbor, ME 04609

(207) 288-4935

Anne Woodman Jewelry Design

185 Main St, Bar Harbor, ME 04609

(207) 288-2700

Shaw Sam Contemporary Jewelry

126 Main St, Bar Harbor, ME 04609

(207) 276-5000

Jack's Jewelry

23 Maine Stream Way, Bar Harbor, ME 04609

(207) 288-3594

Generations

112 Main St, Bar Harbor, ME 04609

(207) 276-0789

Alexander H Phillips Clockmkr

110 Main St Ste C, Bar Harbor, ME 04609

(207) 288-3684

Pyramid Studios

10 State St, Ellsworth, ME 04605

(207) 667-3321

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.