How To Make Money Collecting Scrap Metal

Your Guide to Selling Scrap Metal

You may have seen people around your hometown selling scrap metal. Scrap metal collection can be a very lucrative endeavor for the person willing to put the hard work into it. Check out below to see how to go about selling scrap metal the right way.

Mining Destroys Precious Earth and Soil

Mining, although necessary, is extremely destructive to the earth. It's a very invasive process involving major excavation and digging deep into the soil in order to extract natural resources. In the process, soil is destroyed and elements like toxic compounds, metallic dust and asbestos are released into the air and water. By recycling and selling scrap metal, you'd be doing your part to help reduce the need for excessive mining.

Ferrous Material Isn't as Valuable as Non-Ferrous Material

Ferrous metal is the most common type of metal, including metals like steel and iron. Since ferrous materials are extremely common, they're not worth very much when sold for resale and recycling. Scrap yards will take them from you, but they're not going to be as valuable as non-ferrous material. To check to see whether the metal you've found is ferrous or non-ferrous, try to stick a magnet onto it. If it sticks, the material is ferrous. If it doesn't stick, it's non-ferrous.

Types of Non-Ferrous Metals

If you're going to be focusing on non-ferrous materials, be aware that these types of metals have very little iron in them. The list of non ferrous metals includes metals such as silver, platinum, gold, copper, titanium, zinc and more. Non-ferrous metals are favored for their unique properties that make them valuable for use in industry, including low weight (aluminum), higher levels of conductivity (copper) or they corrosion resistance (zinc).

Copper Is Your Money Maker

Copper is one of the most valuable scrap metals you can find, so keep a sharp eye out for it. Copper that's in good condition has a rich reddish-brown color, but don't be fooled into missing it. Copper sometimes has a dark brown hue, especially when it's old or worn out. Copper is found in items like power cords, extension cords and computer cables. Household items that contain copper include things like cooking pans, plumbing pipes and electromagnets.

Form a Relationship With Construction Companies and Builders

Form relationships with companies that usually work with a lot of metal. This includes construction companies, landscaping companies and dumpster companies. A lot of these businesses discard metal on a regular basis, so by identifying yourself as the go-to guy or gal for metal removal, you can have a built-in client list. They'll responsibly get rid of their excess metal with you, and you'll simply have to sell it. If you've got a ready-to-go buyer list on the other side, you'll cut down on the amount of leg work you have to do.