Have you started driving around town, looking for metal pieces that other people consider “junk” and have put out for trash pickup? Congratulations, because there could be a little bit of money involved with your new hobby. There could be even a bit more if you know how to evaluate the metal prices in New Jersey before you head to trade any of it in. What should you know when it comes time to recycle all of that metal for some money in your pocket?
What Metals Sell
First, you need to know the metals to look for. Not every scrap yard will accept every type of metal you have in your possession. The most common types of metals that are accepted include copper, from wiring and piping to aluminum and steel. Some of the larger scrap yards will accept less common materials, such as silver, gold, platinum or other kinds that could be melted back down and reused. If there is a question as to what type of metal you have, consult with the scrap yard before driving there and see if they can identify it and then if they accept it. If they accept it, see what the metal prices in New Jersey are for it and get a fair deal.
How to Check Market Prices
The metal prices in New Jersey fluctuate just like the stock market. When there is a big demand for a material, like what there has been for copper recently, then the price you would get for selling it back is much higher. The metals that have little demand will get a much lower price per pound when you are selling it back to the company to recycle.
To get the best price for your metals, feel free to call round to the scrap yards and ask about the prices for each metal. How long is that price guaranteed? Is there a minimum or a maximum number of pounds required to sell at one time? Get the facts before you use your precious gas driving there and find out they have rules or conditions which you haven’t met.
The Internet could also be a source to check on the pricing. The scrap yard might post their price per pound to a website, a Facebook page or even on their Twitter account if they have one. If they do not have any of those, checking to see what the Spot Metal prices have done that day could also indicate where prices for metals are. Or you could look at the stock market daily action in the metals sector, the better they perform, the better your prices per pound will be.