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 Paterson 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.

Venus Creations Inc

100 Main St Ste A, Little Falls, NJ 07424

(973) 256-8592

Amazing Dick & Co

100 Main St, Little Falls, NJ 07424

(973) 256-8592

Npp Inc

6 Robinwood Dr, Little Falls, NJ 07424

(973) 857-5811

Elegant Jewel Creations

40 Notchcroft Dr, Little Falls, NJ 07424

(973) 812-1511

Woodland Park Jewelers Boutique

281 Browertown Rd, Woodland Park, NJ 07424

(973) 837-6300

Barton Jewelers

7 Stevens AVE, Little Falls, NJ 07424

(973) 256-1202

Trevi Fine Jewelry

1001 McBride Ave, Woodland Park, NJ 07424

(973) 638-1811

Treasures Unlimited Jewelers

574 Pompton Ave, Cedar Grove, NJ 07009

(973) 239-0995

Jewelry Express

238 Main St, Paterson, NJ 07505

(973) 742-8989

Milano Jewelers

267 Main St, Paterson, NJ 07505

(973) 928-5388

Broadway Jewelry Company

72 Broadway, Paterson, NJ 07505

(973) 345-1745

Binson Pawnbrokers

178 Market St, Paterson, NJ 07505

(973) 684-1861

Batraki Jewelers

190 Main St, Paterson, NJ 07505

(973) 278-0039

Ramdanco International Jewelry

434 Getty Ave, Paterson, NJ 07503

(973) 881-1114

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.