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 Millburn 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.

Brighton

A111 The Mall At Short Hls, Short Hills, NJ 07078

(973) 218-1919

Orologio

D205 The Mall At Short Hls, Short Hills, NJ 07078

(973) 912-8889

Judith Ripka Jewelry

531 Millburn Ave, Short Hills, NJ 07078

(973) 376-3033

Holton & Lake

41 Lake Road, Short Hills, NJ 07078

(973) 912-0832

Links of London

1200 Morris Tpke # B115, Short Hills, NJ 07078

(973) 376-0911

Dimodolo Sh

1200 Morris Tpke # 230, Short Hills, NJ 07078

(973) 921-1114

Van Cleef & Arpels

1200 Morris Tpke, Short Hills, NJ 07078

(973) 379-1800

Gold Parent Coaching

170 Tennyson Dr, Short Hills, NJ 07078

(973) 912-0279

Omega Boutique

1200 Morris Tpke, Short Hills, NJ 07078

(973) 379-6044

Bulgari

1200 Morris Tpke, Short Hills, NJ 07078

(973) 376-7800

Swarovski

1200 Morris Tpke Ste D113, Short Hills, NJ 07078

(973) 379-4318

Out of The Vault

531 Millburn Ave, Short Hills, NJ 07078

(973) 379-2800

Orologio

73 Short Hills Ave, Short Hills, NJ 07078

(973) 912-8889

Louis Vuitton Short Hills

1200 Morris Turnpike The Mall At Short Hills, Level 2, Short Hills, NJ 07078

(973) 258-0023

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.