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Making Money With Scrap Metal

Finding ways to generate extra income each month can help alleviate the strain on your family's budget. You could be sitting on a source of income without even realizing it if you have scrap metal lying around your property.

Making money with your old metal items is easier than you think. All you need to do is follow these three simple steps to turn your old scrap metal into cold, hard cash.

1. Find out which metals you can recycle.

Before you begin sifting through your junk pile to pull out metal products for recycling, you need to determine which metals you can successfully turn in for scrap metal. Each metal processing facility has the equipment and space to recycle only certain types of metals.

You should contact scrap yards in your area to find out which types of metals they are accepting in exchange for cash. Armed with this information, you can easily separate out the metals on your property that will be profitable to turn in for scrap.

2. Perform the magnet test.

The key to making money when recycling scrap metal is to locate the most valuable metals possible. Non-ferrous metals (like copper, aluminum, and stainless steel) are typically worth more than their ferrous counterparts (like steel or iron). Since ferrous metals are more commonly found, they don't hold the same value as non-ferrous metals when it comes to recycling.

A magnet will be attracted to ferrous metals, but will not stick to non-ferrous metals. Perform the magnet test on your scrap metals to help you separate them into ferrous and non-ferrous categories. Scrap the non-ferrous metals by taking them to a recycling facility that specializes in these metals to get the most money for your spare metal.

3. Expand your reach.

If you really want to start turning a profit from your scrap metal business, you need to expand your reach and find metal resources outside of your own junk pile. Many homeowners are willing to let you have scrap metal for free if you take the time to remove it from their property.

Advertise your willingness to clean up scrap metal piles, and ask your friends and neighbors if they have any metal items they want hauled off. Investing a little time and effort could provide you with access to larger volumes of profitable metals to recycle.

Making money with scrap metal can be simple and fun. Maximize your profits by ensuring you know which metals you can recycle, identifying valuable non-ferrous metals for special processing, and amassing as much metal as possible by offering to pick up unwanted scrap from homeowners in your area. For more information about scrap metal recycling, check out