Recycling scrap metal is a great way to make some extra cash fast. But before you jump right into it, there are things you need to know to start making money selling scrap metals. One thing you may be wondering is exactly how much money for scrap metal. That all depends because prices fluctuate depending on the area and on what is in higher demand at the time.
Copper: $4.00 to $6.00 per Kilo
Insulated copper wire: $1.50 to $2.00 per Kilo
Clean brass: $1.50 to $2.50 per Kilo
Stainless steel: $0.75 to $2.00 per Kilo
Aluminium: $0.20 to $1.50 per Kilo
If you are looking to make a little extra money on the side, it is definitely possible by just scrapping metal. It is even possible to make a full-time income doing it if you are willing to put in the work.
Things You Can Scrap for Money
There are many items you can scrap, but some may not be worth the hassle. The best items to scrap for money are things that are made of non-ferrous metal, which means that a magnet won't stick to it. Those metals are worth more money. If you have a bunch of ferrous metals piled around, those can add up to be worth quite a bit of money, as well. Some of the best things to scrap for money are:
Washing machines can earn you around $30
Refrigerators can earn you around $17 or $24, depending on the kind.
Ovens can earn you around $15
Dryers can earn you around $9
Cast iron bathtub can earn you around $35
Gas BBQ can earn you around $18.
All of the price estimates here are for newer appliances and newer models. Older appliances tend to weigh more, which means you can earn even more money for them.
Where to Scrap Metal for Money
To scrap metal for money, you have to take it to a scrapyard. If there is more than one scrapyard in your area, you should call ahead and inquire about the exact price for the metal that you have.
How to Make Money Selling Scrap Metal
Step 1: Find scrap metal.
You can start in your own home in the beginning. Take the time to empty out your garage, basement, or anywhere else that you may have unused metal being stored. Once you're done there, you can advertise locally that you will come to pick up other people's scrap metal if they don't want to do it themselves.
If you are trying to make scrapping metal a regular job, you should work to find a company or a bunch of individuals who will allow you to take their scrap metal just to get it off their hands. Doing this gives you a regular source of metal to scrap and earn money from.
Step 2: Sort the metal.
If you take in a bucket of different kinds of metals, the person working the scrapyard may only give you the price of the cheapest metal you have. Many times, you have to sort it all in order to get the correct prices.
Step 3: Take the metal to a scrap yard.
Check for scrap metal services near you about recycling of scrap metals. If there are more than one, call and see which one is offering the highest amount of money for what you have. Dont forget to look for the one that also offers a pick-up service.
Step 4: Get money for scrap metal.
Now, it's time to get your money! Sometimes you will get cash, but for larger amounts, you may receive a check instead.