Over the years, you may have heard that recycling wire can earn you extra cash. That is a correct statement and for some people this task has proven to be quite lucrative. Before jumping onto this band wagon however, it is important to equip yourself with the proper knowledge. For instance, there are various types of wire. In order to make your recycling endeavors the most profitable, it is good to know the difference between typical scrap wire prices and copper prices.
Aluminum wire is more cost effective and weighs less than copper. Therefore, it is a top choice among utility companies for power grids and transmission of electricity. It can also be found in most houses that were built in the 1960’s and 1970’s. Additionally, aluminum wire is often used in aircraft because of it’s conductivity to weight ratio. Scrap wire prices for aluminum typically ranges from 35 cents to 50 cents per pound. Considering that it doesn’t take long to gather a pound of wire, this rate can add up quickly.
Copper wire is the ultimate find when you are looking for fast cash. There are two types of copper wire. #1 Copper wire is the most profitable, selling for an average of $1.50 per pound. What makes #1 worth more is the fact that it contains no contaminants such as plating or attached connectors. Conversely, #2 Copper wire does contain connectors, lead and is plated. Because it is not as ‘clean’, you can expect to earn approximately 70 cents per pound for it. Copper is used in electrical wire, telecommunications and cable conductors. Also, copper is heavy. Therefore, with just a little time and effort, copper recycling could earn you some big bucks.
As you can see, knowing the differences between scrap wire prices and copper prices can definitely benefit your pocket. Fortunately, you are sure to make some extra cash no matter which one you recycle. Now that you have a bit more knowledge under your belt, where will you begin your wire recycling adventure?