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 West Babylon 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.

Lucky Silver Star

145 S 1st St, Lindenhurst, NY 11757

(631) 589-2777

Argyle Jewelers

150 Deer Park Ave, Babylon, NY 11702

(631) 321-0800

Babylon Gold & Diamond Exchange

32 Deer Park Ave Unit 1, Babylon, NY 11702

(631) 587-4653

Custom Jewelry Shop

29 Deer Park Ave, Babylon, NY 11702

(631) 321-4107

Elite Fashion Accessories Corp

201 Higbie Ln, West Islip, NY 11795

(631) 893-3054

Cash For Gold Centers

1741 Deer Park Ave, Deer Park, NY 11729

(631) 392-1170

Wall St Gold & Diamond

1951 Deer Park Ave, Deer Park, NY 11729

(631) 940-9595

Suffolk Goldbuyers

516 Commack Rd, Deer Park, NY 11729

(631) 237-8704

Gold Standard

15 Bay Shore Rd, Deer Park, NY 11729

(631) 940-8587

Zales

412 The Arches Cir, Deer Park, NY 11729

(631) 242-3895

Zales

455 Commack Rd, Deer Park, NY 11729

(631) 242-3895

Zales

412 The Arches Cir, Deer Park, NY 11729

(631) 274-0822

Liberty Jewelry & Coin Gallery

1864 Deer Park Ave Ste 2, Deer Park, NY 11729

(631) 242-7979

Handmade Jewelry Repair

1842 Deer Park Ave, Deer Park, NY 11729

(631) 667-2063

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.