How to Scrap Metal for Extra Cash
Selling scrap metal can be a way to earn money with little investment. Prices vary depending on the type of metal, but at the time of publication, they range from 70 cents per pound for aluminum cans to as much as $3.52 per pound for certain types of copper. You do not have to have scrap metal around your home to make extra cash. However, if you have an old car or large household appliance you can sell the entire item to a buyer with little preparation on your part.
- Difficulty:
- Moderately Easy
Instructions
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1
Find scrap metal to sell. You do not have to confine yourself to items around your own home. Public freeways and highways often provide a plethora of metal items for the individual willing to stop and pick them up. Hubcaps, bumpers and aluminum cans are a few of the items you can find on roadsides. Look around you neighborhood on trash day and pick up metal items left by the curb.
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2
Prepare your metal for delivery by separating the types of metal into containers. Separate nonferrous items--those not containing iron--from ferrous items. Use a magnet to determine iron content. If an item contains iron, the magnet will stick to it. Remove sheathing from copper wire with a wire stripper.
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3
Research scrap prices. Prices change daily, but a general knowledge of current trends can help you negotiate a better price.
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4
Locate a buyer. Ask friends for recommendations when searching for a buyer for your scrap metal. Call buyers to ask about current prices and the terms and conditions they place on sales. Some purchasers may not buy small quantities of metal but may be able to recommend someone who does.
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5
Arrange delivery. While many scrap buyers will come and pick up the metal you are selling, you will receive less money from the buyer for the convenience.
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1
Tips & Warnings
If you are picking up items on the side of the road, be sure to follow all traffic laws.
Ask homeowners for permission to go through their trash for metal. Laws vary regarding the legality of picking up someone's garbage.
Renew your tetanus shot before handling rusty metal.
Ask the buyer for her terms in writing before delivering your scrap metal. Quality dealers should be willing to do this, according to Hirsch Metals.
