Selling scrap metal can earn you up to $100 a month and is actually one of the most profitable ways of recycling as you can sell almost anything online from old car parts to Christmas lights. Selling metal online is actually a viable lost-cost business that offers a pretty decent potential to earn a profit. Whether you’re into collecting scrap metals and selling them to scrap yard and recycling facilities, want to sell your unused metal online, or purchase metal from other vendors across the globe, it’s all possible with the click of your mouse.
Different Categories of Metal
There are actually two types of metal categories, with most metals being sold online and to scrap yards and recycling facilities belonging to the ferrous category. Non-ferrous metals are worth more, and these consist of metals such as aluminium, nickel, copper, lead, tin, titanium and zinc, and brass. While non-ferrous metals tend to be worth more, the ultimate value depends on the worldwide market demand and cost for each metal. Bare copper, for example, can sell online for around $2.85 per pound, while aluminium can go for about $0.50 per pound. Other materials that have more practical uses in everyday life tend to sell for more in various marketplaces. Seen as the world’s most useful strong metal, titanium and titanium tubing can sell for as much as $30.00 per pound.
How to Sell Metal Online
If you’re looking to sell metal online, you can either begin by checking your own garage, basement or family storage for any old or unused appliances that have metal in them. It’s important to keep in mind that these types of metals can be found in appliances and other household items such as gas BBQs, cast iron bathtubs, washers and dryers, and any appliance that is partially or wholly made out of stainless steel. If you still need more metal to sell, you can usually ask at your local scrap yard or even look online for free on Craigslist or a similar marketplace where people are looking to get rid of their old appliances. Once you’ve got your metals, you can check the going rate for each metal per pound and list your ad at the price you choose according to that. It’s smart to sell around the market price or just above it to ensure you’ll interest buyers without losing sales for being too pricey.
Safe Scrap Metal Collecting
Once you know what you are looking for, you will need to either purchase a vehicle suitable for scrap metal collecting or ensure yours is large and safe enough to transport the pieces you will be picking up and dropping off. If you are looking to turn your side hustle into a full-time gig it is generally suggested to invest in a a 3/4 ton or larger pickup and an 18′ utility trailer with a winch. You will also want to be mindful of all of the necessary equipment you should have on hand for safety measures, such as safety glasses, gloves, a reflective vest and first aid kit.
Make Sure You Are Familiar With Regulations
Depending on where you live or how you are planning to sell the metal, you might be subject to certain laws and regulations. In Oregon, for example, there are specific scrap collection regulations. Some of the most common regulations are that scrap yards are required to take photos or videos of materials, customers, and vehicles, certain payment restrictions and the right to take fingerprints. It is a good idea to understand the laws in your state, as you may require special licensing.