We’ve had a year.
Not long ago, silver was in the $20 range. Then it ran—fast. Pushed past $100 an ounce. At the time of writing this, it’s settled somewhere in the $70s. Maybe it goes back up. Maybe it doesn’t. If you’ve been around long enough, you know it doesn’t ask for your opinion.
But when silver moves like that—five times in a year—it changes things.
Not on paper. On the ground.
One day you make a deal with an artist. You agree on a price, shake hands, and feel good about it. A short time later, that same price doesn’t even cover the cost of materials. Nobody did anything wrong—but now you’re both looking at the same piece a little differently.
That’s where it gets confusing.
Do you reprice everything in the case?
Do you slow down buying?
Do you start looking at copper?
These are the kinds of thoughts that show up—especially when things are already slow.
There’s no single answer. Every store is different. Every buyer has their own rhythm. Some shops carry Native American jewelry as a small part of what they do. Others are built around it.
Here in Gallup, most people just keep moving forward.
That’s always been the way.
But times like this do tend to shift how people think. Not always in a bad way. If anything, it can be a moment to step back and look at what you’re really carrying.
When silver gets expensive, it forces the question:
What actually matters in the piece?
Is it the weight?
Or is it the work?
Because there’s a difference between selling silver… and selling a Navajo bracelet.
Gallup has always leaned toward the second.
This is a place where people come to learn. Where buyers—especially wholesalers—walk in looking for something real. Not plated. Not imitation. Not something that looks good for a season and disappears.
Most of them aren’t asking for copper.
They’re not asking for plastic stones.
And they’re definitely not asking for shortcuts.
They’re asking for authenticity.
And when silver climbs, that doesn’t go away—it becomes more important.
You might have to reprice. In fact, you probably should. Selling something today for $100 when it costs $250 to replace tomorrow isn’t a long-term plan.
But beyond pricing, there’s another shift that happens quietly.
Some buyers start leaning into better work. Stronger stones. Recognizable artists. Pieces where the value isn’t just in the metal—it’s in the name, the craftsmanship, and the story behind it.
Because when silver is high, a good piece still makes sense.
A great piece makes even more.
That’s where something interesting happens.
A hundred dollars in silver starts to get matched by a hundred-dollar stone.
And now you’re not just selling jewelry—you’re offering something that holds its ground, no matter what the market does next.
That’s always been the steady part of this business.
Not the price of silver.
Not the ups and downs.
The work.
And around here, that’s what people still come for.