If you've got an old washing machine or something else made of metal that you want to get rid of, calling a scrap metal yard is a great option. However, some people don't just turn to scrap metal recyclers when the need to get rid of something. Instead, they want to earn money selling scrap metal.
Wondering if you can earn money with scrap metal? Here's what you need to know.
1. Metal Is Usually Worth Something
Metal can be repurposed into all kinds of things, and as a result, scrap metal recyclers are often willing to pay for scrap metal. As a result, you can definitely make some money selling scrap metal. However, whether you make a few cents or a lot more varies depending on a lot of factors.
2. Different Types of Metal Are Worth Different Amounts
A key thing to know if you want to make money selling scrap metal is that different types of metal have different values. For instance, copper is worth a lot more than aluminium, and ferrous metals are less valuable than non-ferrous metals. Ultimately, you need to assess the potential value of the metal, and decide if scrapping it is worth your time.
3. Scrapping May Require Some Upfront Investment
To get started with scrapping, you may need some equipment to help. Ideally, you should have work gloves to protect your hands from cuts and possibly a full work suit to protect your arms and legs. Remember, if the metal is rusty, you may risk coming into contact with tetanus.
If you want to move large metal appliances or big loads of scrap metal, you may need a trailer or a ute. It's important to think about those costs when you are deciding if you can make money from scrap metal.
4. You Probably Don't Have Enough Metal on Your Own
In most cases, private citizens have some metal, but they don't have enough to turn scrap metal recycling into a full or part time job. Once you recycle all the metal you have around your home, you need to look for other sources of metal — that is critical if you want to make money.
Some people simply walk around picking up aluminium cans, but to take that a step forward, you may want to look at free ads, and pick up anything made of metal. You may also want to contact demolition companies or anyone else who may come into contact with scrap metal and ask for their old supplies.