One man's trash is another man's treasure and that is very true when it comes to making money with scrap metal. By studying about ten of the most desired scrap metals and getting to know and trust a dealer or buyer, you can be well on your way to making money by selling scrap metal in very little time.
Some of the more popular metals sold as scrap include:
- Stainless Steel
Check with as many local scrap metal dealers as possible. They all offer different prices and some locations only deal in certain metals. Also remember that at different times, some metals are more in demand than others and you're about making money. Keep an eye on the market or talk to your dealer often to determine what is in high demand. Once you build rapport with a particular dealer, you may find that they will consistently offer you the best prices and accept a large range of metals.
Where Can I Find These Metals?
Two words can drive this rather easy way to make money: junk and inconvenience. If you peruse the daily classifieds, you will often see listings for free giveaways or curb alerts. People may have free fencing, large metal pieces and dead appliances that are free for the taking if you will just get it out of their home or yard. They may not have the time, resources or motivation to haul this "junk" away. If they don't want to make money on their "junk", then you can. Capitalizing on the laziness of others is a great way to start making money.
Another popular place to find scrap metals for your making money efforts is in your local neighborhood on trash day. Sometimes, it may be difficult to tell if something is just out or waiting for the trash company. Make sure you get permission from the property owner before taking an item. It may be pending pickup from someone else who sells scrap to make money. Don't forget garage sales. Just because you have to pay $10.00 for an old sink doesn't mean you can't make more than that when you sell it for scrap. Many people have garage sales for one reason: to purge their homes of junk. The extra money they make is usually icing on their now less-cluttered cake.
Metal prices vary on the type of metal and of course, supply and demand. Metals such as iron can earn you up to $0.10 per lb, while copper can get you upwards of over $2.00 per lb. Keep an eye on the market and call and ask your scrap dealer for current prices. Many dealers may even advertise their paying price on their websites. They often pay by the pound and may have a minimum that they are willing to pay. It may not be worth it to go to a scrap dealer for every trash bag filled with aluminum cans, but with a good eye for metals, you can save up to one hundred pounds of scrap metal in a very short period of time.