Selling scrap metal can be a great way to earn some extra cash but if you have never done it before you may be a bit unsure about how to get started. Here are a few popular tools and tips which can help you make money from scrap metal.
A magnet will come in handy
While some scrap metal yards accept both ferrous and non-ferrous metals, the latter (which includes metals such as copper, aluminium and stainless steel) are more valuable to recycle and will fetch you more cash at the scrap metal yard. You can work out which type of metal you have by using any kind of magnet (even a fridge magnet will work).
If the magnet sticks to your metal then you are in possession of a ferrous metal such as steel or iron. Ferrous metal is not worth a lot but Metal Men Recycling will still accept it and make sure it is recycled properly.
If the magnet does not stick to your metal then you have a non-ferrous metal on your hands and may be able to make some serious money by selling it to scrap metal buyers.
Safety gear is essential
It’s important to take certain precautions when collecting metal, especially if it’s old or rusty. You should protect yourself when collecting scrap metal by wearing clothing that covers your skin adequately, work boots, goggles and thick gloves.
A metal file will reveal the true colour
As some metals are worth more than others, it can be handy to determine exactly which type of metal you have come across. By using a metal file to file down coated items or wires you can identify the type of metal. Some copper and brass pipes may be tarnished but when you use a metal file you can reveal the original colour of the metal. Copper is a reddish colour and brass pipes will appear yellowish in colour.
All that glitters is not gold
Scrap metal prices vary based on material and location. Scrap metal is also graded according to what type of material it is and what condition it is in. It can be challenging at times to estimate the value of your metal unless you constantly have your finger on the pulse of the metal market (or scrap regularly). However, you can utilise sites like Kitco to determine current market prices. The most profitable scrap metals generally include copper, aluminium, silver, gold, brass, stainless steel, iron and lead.
Basic information is just a click away
Basic knowledge of different types of metals is extremely useful when getting started at scrapping metal. There a lots of online guides to metal types such as eBay’s Guide to Different Types of Metals and Alloys which give you a great overview of the features and characteristics of a range of metals.
You could be sitting on a gold mine!
If you own your own home/business or rent a large property, chances are you have something lying around that you could sell to a scrap metal company. From cans and wires to cars and old machinery, Metal Men Recycling will give you cash for any kind of scrap metal. To find out what items can represent great sources of scrap metal consult our informative blog or contact our friendly team.