Many people underestimate the value of selling and buying silver because they focus on gold. However, there are great deals when purchasing silver, and the money you save on those options could increase your profit on your precious metals collection. Below, the experts from First National Bullion and Coin, Carlsbad precious metals dealers with years of experience collectors rely on, explain some of the cheapest ways to buy silver without compromising the value and quality of the precious metal.

Various Sellers

Precious metals are typically sold in jewelry stores and via popular online retailers. However, you can find some of the cheapest options on social media platforms, in secondhand stores, at auctions, and on various websites that sell clothing, accessories, and random items. Some people need quick cash, so they list their valuable silver pieces at community garage sales. Other individuals may be unaware their precious metals have value and donate the items to thrift stores, flea markets, and rummage sales, allowing you to purchase the silver at a cheap price. When researching sellers nearby or online, sign up for precious metals message boards and groups that typically post these sales, drive around neighborhoods to look for yard sale signs, or visit secondhand stores in your local community.

Search the Bins

A mistake many buyers make is only looking at the display tables and cabinets when purchasing silver. However, there are some excellent options in hard-to-see places. Taking an extra moment to search the discount sections could lead to remarkable finds in silver and other precious metals for lower prices. Keep in mind that being at the bottom of the barrel doesn’t mean the silver pieces are less worthy. They simply require a little more searching.

Pawn Shops

This is another place people visit when they require fast money and little hassle. As a buyer, you should go to the local pawn shops. These shops often have a variety of precious metals available for lower prices than traditional dealers and stores. In addition to less expensive items, you may find more of a variety of silver at pawn shops. For example, a jewelry store will likely sell silver rings, necklaces, bracelets, and brooches, but a pawn shop may have other pieces, including cheap silver coins.

Damaged Precious Metals

Some dealers offer discounted prices on silver pieces that have sustained some sort of damage. Even if silver has minor damage, it’s often still valuable and can be fixed by an experienced person, such as a jeweler. For example, if you find a broken necklace at a retail store and purchase it for half price, you can take it to a local jewelry store and have it fixed while still saving money and possibly earning a profit. The silver pieces some people think are junk could be worth significant amounts of money and become the best part of your collection. 

When they’re looking for expert advice on the smartest ways to buy silver bullion, Carlsbad residents should work with trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to invest in precious metals, including silver, gold, platinum, and palladium. Give us a call today at (760) 253-8072.

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.