It’s funny but true that with an ample supply of knowledge, determination, and patience, you can start with almost no money whatsoever and go from one underpriced sterling silver necklace like this…
To a small mountain of sterling silver like this…
I know it’s true because the images above are of actual sterling silver jewelry I’ve found over the years. In fact, that first image is of a necklace I found only a couple days ago. Sure, the pendant isn’t silver but a nice long sterling necklace more than makes up for that… especially for LESS THAN A DOLLAR!
That first image gives away one key point on how you can amass a huge pile of sterling silver and make an amazing profit doing so. The key is FINDING UNDERPRICED SILVER.
That brings up my second key point… finding real silver priced way cheaper than the silver melt value is actually a lot easier than you might initially expect.
First, get educated, like you’re doing now by reading the info on this site. This is a CRITICAL FIRST STEP as you won’t find any silver if you don’t know WHAT you’re looking for, WHERE to look, and WHAT to look at (plus you run a huge risk of wasting money on non-silver items and ending up in the hole).
Learning all you can about silver will help in more ways than I can cover here, the goal with this excercise is in becoming proficient at two things…
Learning to spot real silver
Learning to tell when real silver has been substantially underpriced
In that first photo, I knew as I saw the necklace that it was real silver, didn’t even have to look at the markings (though they’re there, plain as day). I also knew (from past experience plus hefting the necklace in my hand), that the silver contained in the necklace was easily worth more than a dollar. I didn’t need to know an exact dollar amount, just an educated guess to arrive at the conclusion that this piece of silver jewelry was way underpriced and I should buy it. If you’re curious, the necklace weighs 6.8 grams, which is roughly $3.44 at today’s silver price. Not a huge win, unless you consider that I more than tripled my money.
That brings us to my next point, and another key… patience. Cheap silver jewelry is everywhere, but it still takes time, determination, and persistence to find it. In other words, you can’t decide today that you’re going to find all the super-cheap, underpriced silver around and have a mountain of inexpensive silver to drool over tomorrow. You can find cheap silver, you can find lots of cheap silver, but it still takes time and constant searching.
Now to my final point in this article… Learn what to look for, start looking for it, buy it when it’s cheap. That’s it… nothing pretty, just build your silver mountain one piece at a time and it won’t take long before you’re surprised at how quickly it adds up.