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 Staunton 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.

Beads Buttons and Butterflies

1650 E County Road 1100 N, Brazil, IN 47834

(812) 249-9327

Old Fashion Jewelry Shop

45 Forest Park Plz, Brazil, IN 47834

(812) 442-0623

Jr Jewelry

6080 S Mill Rd, Carbon, IN 47837

(765) 344-1752

Crazy Body Jewelry

6500 S Martin Rd, Carbon, IN 47837

(765) 344-1697

The Coin Merchant

1500 S. 25th Street, Terre Haute, IN 47803

(812) 235-0884

Coin Cottage

1605 7th Ave, Terre Haute, IN 47807

(812) 232-4405

Coin Merchant

2021 Hulman St, Terre Haute, IN 47803

(812) 235-0884

Coin Cottage

1605 S 7th St, Terre Haute, IN 47802

(812) 232-4405

Zales

STE E 1 3401 S US Hwy 4, Terre Haute, IN 47802

(812) 234-0998

Zales

3401 S US Highway 41 Ste E1, Terre Haute, IN 47802

(812) 234-0998

Be Iced

3401 S US Highway 41, Terre Haute, IN 47802

(812) 235-6082

Kay Jewelers

3401 S US Highway 41 Suite A2, Terre Haute, IN 47802

(812) 478-9911

Osterman Jewelers

3401 S US Highway 41 Suite C1, Terre Haute, IN 47802

(812) 234-3821

Niles Newton Jewelers

2813 S 3rd St, Terre Haute, IN 47802

(812) 235-1276

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.