A jewelry shop where silver and gold filigrees seem somehow finer and more delicately wrought than anywhere else in town is Ouraivesaria Lagos, Rua do 25 de Abril 6 (tel. 28/276-27-72). Also look here for antique coins, silver candelabras, spoons with the royal crest of Lagos or of Portugal, and silver plates.
A worthy bookshop filled with books in Portuguese and English, as well as postcards and periodicals, is Loja do Livro, Rua Dr. Joaquim Tello 3 (tel. 28/276-73-47).
A final choice is Terra Cotta, Praça Luís de Camões (tel. 28/276-33-74). You'll find pottery from Spain, art objects from Portugal, and inlaid wood and artfully ornate brass and copper from Morocco, Tunisia, Egypt, and Greece.