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 Reynolds 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.

Ruth McKee

507 Bud Ave, Piedmont, MO 63957

(573) 223-7630

Jewelry Creations by Ruth

507 Bud Ave, Piedmont, MO 63957

(573) 223-7630

Jostens

322 N Main St, Ironton, MO 63650

(573) 546-1161

Wildwood Jewelry & Repair

117 2nd St, Summersville, MO 65571

(417) 934-6374

Potosi Coins & Gift Shop

116 E High St Ste A, Potosi, MO 63664

(573) 436-0800

Potosi Coins & Gift Shop

116 E High St, Potosi, MO 63664

(573) 436-0800

Court Square Pawn & Sporting

8 Court Sq, Fredericktown, MO 63645

(573) 783-7585

Silver Mines Quilts & Antiques

4344 W Highway 72, Fredericktown, MO 63645

(573) 783-2644

Kelly's Jewelry

117 E Main St, Fredericktown, MO 63645

(573) 783-3440

Simpley Sensational Hair Salon

1708 Business Highway 67, Fredericktown, MO 63645

(573) 783-2214

Family Inheritance Flea Market

101 W Main Street, Steelville, MO 65565

(573) 775-2341

EZ Pawn

209 E 5th St, Mountain View, MO 65548

(417) 934-2700

Burton Coin Shop

507 N Elm St, Mountain View, MO 65548

(417) 934-1004

Cash America Pawn

111 E Main St, Park Hills, MO 63601

(573) 431-4016

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.