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 Lafayette 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.

Smith's Coins

1245 Sagamore Pkwy N, Lafayette, IN 47904

(844) 250-1562

Insiders Inc

2415 Sagamore Pkwy S, Lafayette, IN 47905

(765) 449-1497

Golden Lion Engagement Rings

3416 State Road 38 E, Lafayette, IN 47905

(765) 446-9557

Zales

2415 Sagamore Pkwy S Ste B11, Lafayette, IN 47905

(765) 447-9397

Andrews Jewelers

2415 Sagamore Pkwy S Ste A14, Lafayette, IN 47905

(765) 449-0112

Goldstone Jewelry Inc

500 N 6th St, Lafayette, IN 47901

(765) 742-1975

Ramzs Emporium

205 Farabee Dr N, Lafayette, IN 47905

(765) 448-9104

Vierk's Fine Jewelry

1650 Main St, Lafayette, IN 47904

(765) 447-0200

Fred Meyer Jewelers

2415 Sagamore Pkwy S, Lafayette, IN 47905

(765) 449-9922

Euro Jewelry by Kim - Handmade Jewelry Items

801 South St Apt 2, Lafayette, IN 47901

(765) 838-1384

Lady O collections

120 Twyckenham Blvd Apt 7, Lafayette, IN 47909

(765) 474-9817

Schrader's Jewelry & Watch Repair

1605 N 18th St, Lafayette, IN 47904

(765) 742-8716

Stall & Kessler's Diamond Ctr

333 Columbia St, Lafayette, IN 47901

(765) 742-1259

Watch Off

3747 Ensley St, Lafayette, IN 47909

(765) 474-8872

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.