Today I went on a sea-glass-collecting spree with my sister. We found LOADS at a beach near her home including a piece in a gorgeous intense cobalt-blue colour. She brought me back down to earth by asking me: "so what are you going to do with all this sea glass?"
Ah - experimentation is the fun part!
There's an overview of four main methods here, as well as other interesting links about grading sea glass. This recent blog post about drilling sea glass was also helpful - although surely one needs a clamp or similar to hold the sea-glass in place and drill safely? It looks a bit scary to me.
Using silver metal clay seems to produce the nicest results, and I even found someone who teaches classes and has experience in this technique.