How To Make Money By Collecting & Selling Scrap Metal

by Mia Moore

published – Apr 18th 2022

Have you heard that you can make money by selling scrap metal for cash? If not, then you are in for a big surprise. Metal is used for all sorts of different things. Just take a glance at any one of your household items. There is a good chance that a least part of it is made from metal.

This makes scrap metal recycling one of the biggest markets in the world. You can earn cash by selling off any metal that you no longer have use for. Here is a brief guide on how collectors can make a profit from selling their unwanted scrap metal.

iron How To Make Money By Collecting & Selling Scrap Metal earn work jobs sell — photo by Alexas_Fotos from pixabay

What is considered scrap metal?

It can be any metal that you were otherwise planning on throwing away. However, it needs to be something that you yourself own. This means no stealing. Metals that can usually be recycled or reused in some form are known as scrap metals. They include:

brass
iron
steel
copper
nickel
aluminum

What kind of scrap metal can be sold?

There are two main types of scrap metals that you can sell and make money from. These are known as ferrous and non-ferrous metals. Here’s the difference.

In short, ferrous metals have magnetic properties and are composed mostly of iron. A few examples of this include carbon steel, stainless steel, and wrought iron. Non-ferrous metals do not contain a significant amount of iron and they consist of aluminum, nickel, and copper.

If you don’t think that selling scrap metal would be feasible for you personally then there are plenty of other ways to earn money on the internet. One very simple and easy way to do this is with paid surveys. Websites such as quickrewards allow you to earn income by taking online questionnaires from the comfort of your own home.

Which is the best scrap metal to sell?

Well, it all depends on the kind of metal you are most exposed to in your everyday life. What would you say you come across most often in your daily routine?

If you work in an industry where a lot of aluminum is thrown into the waste, you can make use of that by adding it to your haul. You might work in a factory where copper is discarded frequently. You could potentially salvage this for your own uses, if allowed.

It might be wise to run this by your superiors and get permission first before you proceed with this venture. Don’t worry if you don’t work in this kind of environment. In other personal situations, you might be exposed to electronic appliances where different types of scrap metals can be found within.

Although, always exercise caution when tinkering with electronics. You need to make sure you know what you are doing and remain safe at all times.

Can I sell my aluminum cans?

You will find that you collect cans whenever you do your weekly grocery shop. Once you’ve eaten the food, wash these cans out and put them aside for selling later on.

It might require a little extra work as you will have to collect aluminum cans in the first place. Haulers will also need to remember to collect them rather than forgetting and throwing them out as people would normally do.

You could try asking your friends and family to contribute to your collection of aluminum cans. Furthermore, you could sell the idea to them as a free trash collection or removal service so you will ultimately be doing them a favor at the same time.

If granted permission, you could set up an aluminum can receptacle at your place of work and then wait for your colleagues to fill it up over time.

You might want to secure this with a padlock for extra peace of mind. This way, nobody can steal your collection and profit for themselves. Later on, you can sell the scrap metal to the recycling centers.

cans How To Make Money By Collecting & Selling Scrap Metal earn work jobs sell — photo by Skitterphoto from pixabay

Can I sell the metal from electric cables?

Some electric cables and cords contain copper wire that you can sell to yards or put them up for auction in order to make money for yourself. Again, ensure that you are not putting yourself or anyone else in danger while doing this.

However, you need to be sure to obtain this copper wire legally. You can’t go around stripping copper wire from things that don’t belong to you. This is a serious offense and authorities are increasingly cracking down on that kind of crime.

Can I sell the metal from my old appliances?

Your backyard might be occupied with an unwanted refrigerator or a rusty, old BBQ grill. On the other hand, your washing machine may have recently broken down. Do not throw them away, instead sell them to companies and recycling centers as you will end up earning money.

You may in fact make more money by disassembling these appliances yourself piece by piece so that you can strip away the metal parts. You can then sell off these individual parts to other locations like waste disposal sites although it does take a bit more effort.

Should I sort my scrap metal in preparation?

It gets difficult to collect metals if left unsorted. You might want to organize some kind of sorting system so that you know which metal goes where. This will make your life so much easier when it comes to selling time.

To solve the problem or at least make it a little less tedious, use different boxes for each metal. You could even use an old dresser and have:

the top drawer for copper
the middle drawer for aluminum
the bottom drawer for nickel

How do I find scrap metal?

You could request scrap metal from manufacturing companies. If you can find a way to contact any local manufacturing companies, you can ask them to donate you the scrap metal which is no longer in the use.

Can I source scrap metal near me? You would be surprised how many are willing to accept if you come and pick it up for free. Scrappers may even be helping them by doing this.

Consider asking friends and family if they are interested in handing over their old or broken appliances to you. Nobody likes clutter so it might also be a benefit for them to do this.

How much money can I earn from selling scrap metal?

Firstly, it depends on how much scrap metal you can obtain on a regular basis. If you can only collect a small amount of scrap metal sporadically then you can’t exactly expect to make a full-time income from this work.

The next thing to worry about is whether or not there is a big demand for scrap metal from merchants in your area. Average rates or prices of scrap metal for sale will always be different depending on who you sell it to.

Investigate how much your stock will be worth? Here are some approximate figures you might expect to earn for each metal:

Ferrous metals: $0.50 per lb
Copper wire: $3.50 per lb
Brass: $1.85 per lb

It’s best to shop around and see who is offering the highest price for your scrap metal. You can then choose to sell mainly to that particular vendor.

Amateur collectors can make money from scrap metals but I only recommend you do it as part-time work as it isn’t easy to make a proper living from it.

You may even be better off applying for jobs at places like scrap metal recycling centers if this is something you are truly interested in. There are tools out that can help you on your job hunt such as jobscan. This site provides job interview tips and assists you in optimizing your resume.

automobile How To Make Money By Collecting & Selling Scrap Metal earn work jobs sell — photo by Tama66 from pixabay

We can now clearly see how metal plays a role in our lives. The profits are there in front of our eyes, but only a few haulers choose to see it. It’s literally just a matter of taking advantage of this opportunity and then turning your trash into treasure.

I would recommend that you think about who might be willing to buy scrap metal from you for money. You can even go as far as making a list of buyers so you have plenty of options when it’s time to sell.

Scrap metal isn’t the only item you can profit from. If you want to learn how to make money selling lots of other goods then check out 47 eCommerce Online Selling Tips To Catch & Keep Buyers For Life!

Do you think you would be able to make a full-time income from this? What do you think is the easiest and most difficult part of scrap metal dealing? Please don’t forget to share this with your friends and like it on social media. You can subscribe to our newsletter and comment below too. Thanks for reading!