When it comes to scrapping, having the right tools can make all the difference. While wire cutters, gloves, and a sturdy truck are important, one tool stands out as absolutely essential: a magnet.
Magnets help scrappers quickly identify metals, allowing them to separate valuable non-ferrous metals (like copper, aluminum, and brass) from lower-value ferrous metals (like iron and steel). This simple tool can save time and maximize profits when sorting scrap.
Let’s break down how magnets help scrappers—and which ones might be worth selling.
The Magnet Test: How to Identify Metals for Scrap
One of the first things every scrapper needs to know is “the Magnet Test”—a quick and easy way to tell if a metal is ferrous or non-ferrous.
- If the magnet sticks → The metal is ferrous (iron, steel) and generally less valuable.
- If the magnet doesn’t stick → The metal is non-ferrous (copper, aluminum, brass, etc.), which is more valuable at the scrap yard.
🔹 Pro Tip: While the Magnet Test is useful, some metals may not react to a magnet even if they contain iron. For example, 304 stainless steel contains iron and nickel but won’t stick to a magnet. That’s why it’s always a good idea to double-check with your local scrap yard.
Valuable Scrap Magnets: Which Ones Are Worth Money?
Most magnets scrappers come across aren’t worth much as scrap—but there are a few exceptions. Certain types of magnets contain valuable metals and can actually be sold for a decent price.
- Alnico Magnets:
- Found in hard drives, old electronics, industrial machinery, and some motors.
- More valuable due to their metal composition (aluminum, nickel, and cobalt).
- Potential scrap value: Around $0.75 per pound, though prices vary by yard.
- Ceramic Magnets:
- Commonly found in speakers, microwaves, and motors.
- Have very little scrap value but are still useful tools for scrappers.
- Better to keep for metal sorting rather than selling for scrap.
🔹 Pro Tip: If you collect a large amount of Alnico magnets, some scrap yards may offer a better price for bulk amounts!
Grab a handy magnet for scrapping from Rockaway Recycling - the home of the iScrap App.
- 3 Colors Available!
Where to Sell Scrap Magnets & What to Do With Old Ones
Since not all scrap yards accept magnets, it’s important to check before bringing them in. Here’s how you can get the most value from your scrap magnets:
- Check with your local scrap yard (Use the iScrap App to find one that buys Alnico magnets).
- Sell them online – Some collectors, manufacturers, and DIYers buy used Alnico magnets.
- Repurpose them – Ceramic magnets can be handy for scrapping, so it may be worth keeping them for sorting metals instead of selling.
Whether you’re a full-time scrapper or just getting started, a magnet is one of the most valuable tools you can have. Not only does it help identify different metals quickly, but some magnets themselves can even be scrapped for cash.
Next time you come across old electronics, speakers, or industrial scrap, check for Alnico magnets—they could be worth money! And if you need to find a local scrap yard that buys valuable metals, use the iScrap App to check prices and connect with nearby yards.
