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 Michael 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.

Silver City

407 S Main St, Saint Charles, MO 63301

(636) 946-1616

First Capitol Jewelry & Loan

2180 1st Capitol Dr, Saint Charles, MO 63301

(636) 949-0200

Hill, T Brian

122 N Main St, Saint Charles, MO 63301

(636) 896-4117

Maison Rive

603 S Main St, Saint Charles, MO 63301

(636) 940-0266

Charles Towne Loan & Jewelry

3004 S Saint Peters Pkwy # T, Saint Peters, MO 63303

(636) 928-3700

The Glass Workbench Inc.

318 S Main St, Saint Charles, MO 63301

(636) 946-2002

Posh Unique Boutique

5343 Highway N, Saint Charles, MO 63304

(636) 939-3070

Roemer Originals

1163 1st Capitol Dr, Saint Charles, MO 63301

(636) 947-7207

Captivations

122 N Main St, Saint Charles, MO 63301

(636) 946-6265

Master's Pieces

816 S Main St, Saint Charles, MO 63301

(636) 925-1333

TheSilverBuddha

1120 Saratoga Dr, Saint Charles, MO 63303

(636) 447-1811

Schnarr Jewelers Inc./Dreamcatcher

724 S Main St, Saint Charles, MO 63301

(636) 255-8885

Zanders Jewelry

105 S 5th St, Saint Charles, MO 63301

(636) 946-6618

Bling It On

13 Santa Rosa Ct, Saint Charles, MO 63303

(636) 578-9572

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.