If you want to make more than just hobby money out of selling scrap metal, you need to get your entrepreneurial spirit in gear. Learn how to make the best profit out of selling scrap metal.
Don't pay for scrap
Never pay anyone for their old scrap metal- it cuts into your profit in the end. Rather, get scrap metal for free by offering to go to peoples' houses to haul off their old washers, dryers, car parts, and more. Trade items you no longer want or need, such as old furniture, clothing, or video games, for larger amounts of scrap metal that you can turn around and sell for cash.
Scrap the right metal
Just as gold and silver prices fluctuate every day, so does other metal values. What remains relatively consistent is which metals carry the most value. Copper and brass pieces are the most treasured, and are usually found scrapped from housing construction when plumbing work is being done. You can nab upwards of $2 per pound selling quality copper to a salvage yard. Iron is heavy, so while it won't net you the large amount per pound as copper does, you get a large return on the weight to make up for it.
The cheapest scrap metal is usually aluminum, but it is so common you can find several pounds of it fairly easily to make a decent amount of cash. Don't forget stainless steel and lead- these heavy metals add up to make you a lovely profit once you've collected several pounds.
Sell in bulk
A salvage yard is the place where you want to sell your scrap metal, and the more you have to offer the greater the deal you can get. Try to collect several hundred pounds of heavier metals, such as iron or steel, and a large load of copper prior to selling your metal for profit. A facility is going to be more interested in your scrap if you have an impressive amount to sell. If selling to a recycling facility, make sure each metal piece is free of glass, plastic, and rubber before you take it in so they can get an accurate weight on your scrap.
Finding and selling scrap metal is a fun activity that can make you a lot of money. If you trade for scrap instead of paying for it, know which metals to focus on for profit, and sell your finds in bulk, you can make a decent living selling scrap. Contact a company like Metalex Recycling for more information.