So, what is a scrapper’s favorite tool?
A magnet!
A magnet can tell you what different types of metals you have and help sort the more expensive metals from the cheaper grades. But did you know that sometimes you can make money selling different magnets?
Scrapping Magnets For Cash
Most magnets you will find will be cheaper and have low scrap value, but certain types are worth real money. These are the two most commonly scrapped types of magnets:
- Ceramic Magnets: These are commonly found in speakers and other household items. While they don’t have a high scrap value, they are incredibly handy tools. Their strength and durability make them perfect for metal detection and sorting tasks when scrapping. So, please don’t throw them away!
- Alnico Magnets: These magnets are more valuable and often found in electronics like hard drives. They are made from aluminum, nickel, and cobalt and can fetch a decent price at the scrap yard. Even though they often come with a steel plate attached, their value makes it worth the effort to scrap.
How Much Are Scrap Magnets Worth?
The value of scrap magnets can vary based on their type and condition. Ceramic magnets, as mentioned, don’t hold much scrap value but are excellent tools.
- Alnico Magnets: As these contain more valuable materials, expect to receive around $0.75/lb at your yard for them.
- Ceramic Magnets: Unfortunately there isn’t much scrap value in these types. As mentioned previously they may make wonderful tools for scrapping. While some scrap yards accept these, we recommend collecting them for a little while before bringing a small collection of them in, especially if you’re pulling them from scrap speakers.
Knowing what to look for and where to sell can turn even your old magnets into a profitable part of your scrapping business.
Until next week, scrap ya later!
-Tom
Grab a handy magnet for scrapping from Rockaway Recycling - the home of the iScrap App.
- 3 Colors Available!
