How To Make More Money From Your First Scrap Yard Visit
Professionals who work with a lot of metal, such as plumbers and construction contractors, will often frequent scrapyards so they can sell unused scrap metal and benefit the environment at the same time. However, many homeowners also turn to scrap yards as a way to make money on the side. However, there are several mistakes you'll need to avoid if you want to make as much money as possible at the scrap yard.
Know the Policies on Separating Scrap Metal
The biggest mistake that new scrappers make is not separating their metals. Make sure to know the policies for how scrap yards compensate for different types of metal that are mixed together. There are some scrap yards that will purchase all of the metal at the same price, so you won't have to worry about separating your metal. There are other cases where you might only be paid for the lowest value metal that is in your scrap pile unless you separate the metal into different piles.
Remove Non-Metallic Materials
Removing non-metallic materials, such as wire insulation, will allow you to earn more money from your scrap metal. Stripping a wire is very easy because wire strippers are inexpensive and easy to use. You'll especially want to strip copper wire because this is a major money maker given how valuable copper is.
Separating metals is important as well. One way to separate metals is to use a magnet. Ferrous metals will be attracted to the metal and will be easier to remove. Then, you can separate the specific ferrous metals. Next, you can separate the non-ferrous metals.
Know the Metal Grade
Knowing the grade of the metal you are scrapping will also help. For example, while you might be familiar with stainless steel, there are different grades of stainless steel. The grade of the steel is based on how much nickel is contained within it. Therefore, you'll want to ask the scrap yard about how they separate their steel grades.
Package the Materials Properly
Find out how the scrap yard would like to have the materials packaged. This will make it easier for the scrap yard to unload your scrap metal and will also make it more likely that they will pay top dollar for your scrap metal. If you have never visited a scrap yard before, call several scrap yards and don't be afraid to ask questions. Then, you can arrive prepared.