A jewelry shop where silver and gold filigrees seem somehow finer and more delicately wrought than anywhere else in town is Ourivesaria 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 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.
Note: This information was accurate when it was published, but can change without notice. Please be sure to confirm all rates and details directly with the companies in question before planning your trip.