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 Thoreau 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.

Dick Elkins Trading & Pawn

5 Frontier St, Thoreau, NM 87323

(505) 862-7000

Dick Elkins Silver & Pawn

5 Frontier St, Thoreau, NM 87323

(505) 862-7000

Gordon's Jewelers

1300 W I-40 Frontage Rd, Gallup, NM 87301

(505) 722-7207

Beeman Jewelry Design

211 W Coal Ave, Gallup, NM 87301

(505) 726-9100

Southwest Jewelers Supply & Pawn

828 E Historic Highway 66, Gallup, NM 87301

(505) 722-2569

Richardson's Trading & Cash

222 W Historic Highway 66, Gallup, NM 87301

(505) 722-4762

Silver House Trading Co

209 W Historic Highway 66, Gallup, NM 87301

(505) 722-2335

Silver Dust Trading Co

121 W Historic Highway 66, Gallup, NM 87301

(505) 722-4848

Joe Milo's Tradng Company

1628 S State Highway 602, Vanderwagen, NM 87326

(888) 997-7956

Lonn Parker Originals

PO Box 491, St michaels, AZ 86511

(928) 810-4861

Coin Shop Inc

2909 E 20th St, Farmington, NM 87402

(505) 326-2156

Zales

4601 E Main St Ste 320, Farmington, NM 87402

(505) 325-2879

Mjm Jewelers

4301 Largo St Ste G, Farmington, NM 87402

(505) 327-3800

Kay Jewelers

4601 E Main St Suite 325, Farmington, NM 87402

(505) 324-0177

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.