Do you know you can make money with scrap? This article will show you how.
Being in a tight financial situation can make you creative and make you look for how to cut expenses, and get an additional stream of income. There are many things you can do to earn extra income.
If you’re interested in earning periodically, you can do so by selling scrap.
There are lots of ways to make money with scrap. However, you need to know the types of scrap you need and how to sell it.
You might be wondering what a scrap is and how useful it is. The fact is, scrap can be any machine or appliance. Irrespective of the condition it is, whether functional or not, scraps still contain useful metals.
In this article, I will show you different ways through which you can make money with scrap.
1. Roadside items
Roadside items are one of the materials that you can make money from. Several old kitchen materials are wasting away in a ditch. Several random items are also thrown around in the streets since they are too large to move.
So, you can search for these scraps and make money for them. Even if they have rusted, they will still contain the metal elements that you are interested in.
While searching for these items, don’t take anything from private properties unless you are permitted to do so. Doing so will be a form of theft.
2. Old plumbing material
You can also make money with scrap by selling your old plumbing materials. These materials include electrical parts and fixtures from your plumbing. These items contain valuable metal.
You can also sell faucets, old drains, pipes, and the wiring that goes with these items at scrap yards.
3. Major appliances
You can also make money with scrap by selling household appliances such as refrigerators, washing machines, and freezers as scrap.
If you have old items that you want to replace, they will be more valuable for their scrap metal than they will be as broken appliances.
4. Auto parts
Also, you can salvage and sell auto parts to make money. Old auto parts are valuable because they are made almost completely from metal.
Different types of metals can be found in auto parts. So you can take them to pieces and sell them to make money.
If you are tired of the old car that you’ve been driving for the past 25 years, you can scrap it and make money from it.
You can scrap a whole car if you wanted to. However, it can be very challenging due to some activities such as getting rid of all the fluids in the car.
Also, you should remove all non-ferrous metals and put them in a different pile because you will also make money from them. We will talk about how you can make money from non-ferrous metals later.
Although you will not make much money from scrapping a car, if the car is old and not functional, then you can scrap it for money. However, if the car still has some components that are still working, you can strip those components and sell them on Craigslist or eBay.
SEE: How to Make Money Flipping Cars
5. Household items
If you have defunct household items, you can sell them for scrap. Items such as broken tree lights (which contain valuable copper) and toasters (with copper wiring and steel body) can be sold as scrap.
To get more money, get rid of plastic casings and other non-metal components.
SEE: How to Start a Small Business From Scratch [With No Experience]
6. Old appliances
If you have old appliances, you can recycle them to make money. You can find these old appliances and take them to recycling centers. So if you prefer this option, you need to find a way to haul these items.
With this option, you can earn at least $200 per day.
Most old appliances contain ferrous metals. You can scrap old appliances like washing machines, ovens, dryers, microwaves, and refrigerators for some cash.
Since you can easily come by these appliances, they are one of the best items that you can scrap for money.
7. Structural steel
It is not easy to come by this item and moving huge beams of steel around can be difficult. These materials are used in bridges and buildings and can also make you money.
You can find these materials from demolition sites where you can find unused metals and sell them for some nice cash. To get these items, you can find someone that’s into the demolition business to supply you with the materials.
More so, you need to get a large truck or van to move these pieces of steel for you. While you can only carry the ones that are not too heavy, most of these items are big and you need to figure out a way to transport them.
These heavy items are some of the most valuable items that you can scrap for money. So, if you are ready to get some grease on your elbow, this is a great opportunity for you to make money.
SEE: Best Ways to Make Money With Dump Trailer
8. Non-ferrous metals
Ferrous metals are good for scrapping since it is easy to find them and you can easily convert them to money. However, if you want to make big money, non-ferrous metals are more profitable to scrap.
Unlike ferrous metals, non-ferrous metals are not common. The common ones, such as Aluminum, are not heavy like ferrous metals.
Here are some non-ferrous metals that you can convert to scrap and make money from:
- Stainless steel
Now let’s take a look at each of these non-ferrous metals and see how to make money scrapping them:
One of the best non-ferrous metals that you can scrap for some cool cash is aluminum because it is fairly common and is priced at around $0.30 per pound.
You can find aluminum in housing sidings and frames. Gutters are also made of aluminum. Other items that are made of aluminum include car rims, building structures, certain car parts, and wires amongst others.
Also, you can scrap aluminum cans but you will make more money when you recycle the cans at a reverse vending machine.
Copper is one of the non-ferrous metals that you should scrap if you want to make huge money with scrap. Just like aluminum, we have many types of copper but the most common ones are #1 copper tubing and #2 copper tubing.
These forms of copper are found in building structures and plumbing work. If you want to make money with scrap, you need to consider #1 bare bright copper wire; it is one of the best metal items that you can scrap to make additional money.
Although this form of copper is priced around $2 per pound, it is not easy to come by. They are profitable to scrap and can be found in building structures.
More so, you can make money with scrap copper insulated wires that have a scrap price of about $0.50 per pound.
Another item that you can scrap to make money is brass. Brass scrap is one of the most valuable items to scrap and it is nicely priced at around $1.40 per pound. You can find brass in castings, valves, rods, pipe fittings, and bullet casings.
Thus, if you have any brass that is wasting away, you can recycle them for money because it is one of the best metals that can be scrapped for money.
There are different grades of stainless steel but you need to consider stainless steel scrap that costs about $0.25 per pound. You can find stainless steel in household appliances such as ovens, refrigerators, microwaves, and lots more.
Don’t forget that a simple way to know if an appliance contains stainless is to carry out the magnet test. If the magnet does not stick, then the appliance is most likely stainless steel.
Such appliances can also be made of aluminum but they will have duller textures than stainless steel.
How Much Can You Make With Scrap?
The amount of money you earn from scrap depends on if you have regular access to scrap. This will only be possible if you have a connection with a business that deals in scrap. Also, market prices are always fluctuating depending on supply and demand and this can affect your earnings.
Let’s take a look at some rough numbers that you can work with:
- Light iron and other types of ferrous metals: They can be sold for about $0.06 to $0.10 per pound. However, they are easier to find and also easier to get more weight.
- Copper: It can be sold for $2.65 per pound.
- Insulated copper wire: It sells for $0.90 per pound
- Brass: You can sell it for $1.60 per pound
- Stainless steel: It sells for $0.42 per pound
- Aluminum: It can be sold for $0.50 per pound
Judging from the estimates above, it is possible to make at least $200 per day with scrap. You just need to put in more work and find more scrap that you can sell to make extra cash.
SEE: Quick and Easy Ways To Make Money From Home
What are the materials that you need while sourcing scrap metal?
You don’t need much to start making money with scrap. Here are the materials that you need:
- A magnet: a pocket-size magnet is an important tool for those that scrap metals. You will use the magnet to differentiate between ferrous and non-ferrous metals. If the magnet sticks to the metal, then it is ferrous.
- Truck, cardboard box, or barrel: You will use these to collect the metal.
- Knowledge of the different forms of metals.
What is the difference between ferrous and non-ferrous metals?
Ferrous metals contain iron while non-ferrous metals do not. That is why a magnet is the most crucial tool for distinguishing metals and collecting them.
The reason I am pointing this out is that the two types of metals have different prices; non-ferrous metals are more valuable than ferrous metals. You will earn more per pound from non-ferrous metals than from ferrous metals.
Thus, if your magnet does not stick to the metal, then you are staring at more money in your pocket.
Where can you find scrap metal?
Scrap metal can be found everywhere. In some cases, people throw away scraps that they don’t need. You can move from door to door to share flyers and inform people that you collect and scrap metal.
Also, you can go into demolition sites to collect these items. However, ensure you have permission to have access to these premises so that you don’t end up being prosecuted for theft since the property is not yours.
To make money with scrap, you need to know what to do and where to find the scrap. You can easily find these scraps in your house, friends’ houses, or on the internet.
Lots of people discard scrap metal at local dumpsters and some businesses abandon their scrap metal outside for several weeks at a time. In most cases, construction workers have access to metals that they can scrap.
You can easily earn hundreds of dollars every month scrapping. So if you’re looking for an opportunity to make extra income on the side, this is an opportunity that you should consider.
However, ensure you calculate your expenses such as renting a truck or van or gas expenses for moving around while collecting scrap.
Tosinajy regularly publishes articles on different ideas that you can use to make extra income on the side. These practical ideas are so easy that even newbies can use them. Check out the different sections of the site for more money-making ideas.
Thanks for reading.