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 Rice Lake 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.

mollsmall

1638 293rd Avenue, Frederic, WI 54837

(715) 790-2649

Big Al's Liquidations & More

26356 Lakeland Ave S, Webster, WI 54893

(715) 866-8008

Gold and Silver scrap buyers

552 wisconsin ave, hayward, WI 54843

(715) 403-0235

Hi-Ho Silver

110 W 2nd St Ste 15836, Hayward, WI 54843

(715) 634-5052

Hi-Ho Silver

15836 W 2nd St, Hayward, WI 54843

(715) 634-5052

Created Elegance By Anthony

15836 W 2nd St, Hayward, WI 54843

(715) 634-8385

Martens Jewelry

132 N Washington St, Saint Croix Falls, WI 54024

(715) 483-3737

Bay Street Coin

17 Bay St, Chippewa Falls, WI 54729

(715) 723-1985

Eric's Diamonds & Fine Jewelry

111 N Bridge St, Chippewa Falls, WI 54729

(715) 723-0180

A Anderson Jewelers

300 N Bridge St, Chippewa Falls, WI 54729

(715) 720-7880

Gilbert Gun Exchange

200 W Menomonie St, Elk Mound, WI 54739

(715) 879-4644

Shadowtail Numismatics

500 Main St E, Menomonie, WI 54751

(715) 231-4075

Coins N More

620 Main St E, Menomonie, WI 54751

(715) 231-4653

Robert Giede Designs

2321 Broadway St S, Menomonie, WI 54751

(715) 235-7767

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.