Copper is one of the most beautiful and popular metals out there. As a precious metal, it inherently has value, regardless of how little you have.
If you’re eager to make some money off of metal but aren’t sure where to sell metal, you’re in the right place.
This is a comprehensive guide on how to sell copper, whether now is a good time, and where to sell copper for the biggest payout.
Is selling copper profitable?
Selling copper can be extremely profitable!
Because of how easy it is to get copper scraps, how inexpensively you can find copper in old machinery or pipes, and the ability for you to find sellers who don’t know what they have on the internet: you can find copper for extremely cheap and sell it for some major money.
You can explore these recycling businesses if you plan to grow your supply, and discover one of the reasons you can recycle ballasts for cash is due to its copper content.
If you have a large enough amount of copper and are able to sell large amounts of it every day, you can easily make a living off of this: but you have to be moving in mass quantities.
Copper is worth, at most, $5 per pound, depending on who you’re selling to. This means you need to have countless pounds of it to make it worth selling.
If you have access to this amount of copper: you can make a killing.
Trend on the Rise
For the last two years, copper has been consistently selling at prices that are higher than they’ve been in the last decade. This is a hot commodity that is pushing many to sell quickly.
How do I source copper for cheap?
Before you sell copper, you need to have enough to be valuable. This means finding and buying copper as cheap as possible while also being able to prove that it’s pure copper.
Avoid buying from unverified sources online, which can then duck out of the deal and try to say they sent you copper when they clearly sent you an alloy or some other cheap metal.
Look for copper that’s at least 30% cheaper than you would be able to sell it for in order to make money reselling it.
You can usually find a good deal in ‘copper jewelry’ lots, but be aware that the weight of these can often include the stones or glass that’s part of the jewelry.
If the price is already at the top of your budget for buying before you even put in the work to remove the stones and melt them down, it’s not worth buying from them.
Tactic for Success
Keep in mind that copper is always worth more when it’s in bulk. So, it’s wise to attempt to gain a large amount of pure copper before you put the work into selling it.
Will copper prices go up before 2023?
Copper prices right now, according to the NASDAQ, are trending slightly downward, but that’s nothing to panic about.
The price of copper is going to go up and down, but it hasn’t fallen below four dollars since the midpoint of 2021.
This means it’s still doing far better than it was at the peak of $2.75 before 2020 and the price of $1.95 when the pandemic first struck at the beginning of 2020.
Right now is still a great time to sell copper, and you can try your luck on these websites to sell stuff.
There are some predictions saying that the market is going to crash at the beginning of 2023, but there’s no way to tell if these are true or not until it happens, so it’s 50/50 on whether you should allow this to color your opinion.
Where Sell Copper Online
Selling copper online is an awesome way to make some real money while also not having to leave your home to get paid.
Although the internet comes with its own issues, like a constantly updating market that anyone can view the price of and could decide it’s not worth buying: it’s a great way to contact customers.
Selling to scrap and junk metal companies isn’t the only way to make money; instead, a lot of money can be made selling to artists and individuals who use copper to construct and build their hobbies.
This opens you up to a huge world of buyers that aren’t always available in person. Make the most from your copper by following these tips for selling on Craigslist.
Best Places to Sell Copper Online
- Classic With eBay – eBay is one of the best places to both find and sells extra metal and copper for a good price.
- As Material on Etsy – Many artists and creatives are willing to buy junk metal on Etsy for higher than you’d get from scrap companies.
- Through Craigslist – Craigslist is hit or miss when selling metal, so be firm on your price and reference the current NASDAQ copper spot price if need be.
Remember that selling online requires you to have and keep a good reputation as a seller.
Only sell high-quality copper, make sure that you package things safely, and be clear in your descriptions so that buyers know what to expect when they receive their packages.
Tactic for Success
When selling copper online, it’s vital that you price your products competitively and avoid underselling. As long as your price is close to the NASDAQ price and you’re able to back up the quality, you’ll have no problem finding buyers.
Where to Sell Copper In Person
Selling copper in person requires a mixture of business savvy and the ability to network with folks in your area.
Getting word of mouth out there and advertising yourself on social media ensures that more people will know you’re a good source to buy copper from when they need it.
These are some of the best places to sell copper in person.
Best Places to Sell Copper In Person
- To Artists –If you live near a city that has a lot of trade shows or art crawls, consider putting out a local listing to artists that you’re offering scrap metal that can be used.
- To Scrap Companies – Scrap metal companies will always buy metal, but you won’t always get the best prices when you’re selling to them.
- To Jewelers – Some jewelers, especially those who advertise themselves as humanitarian, will buy scrap metal to use instead of buying new metal they can’t source.
When selling in person, it’s okay to allow people to test it, but try to get paid digitally as much as possible.
This will leave a paper trail for taxes and leave evidence that will work as a receipt between the two of you if there’s ever a dispute about an order.
You can easily accept payments through Paypal, Venmo, or Zelle, depending on what you and your customers can agree on.
What to Avoid When Selling Copper
It’s easy to make mistakes when you’re trying to sell precious metal like copper.
Although we all work hard to be careful and try to avoid losing too much money to these mistakes: it’s vital that you plan ahead and stay knowledgeable.
These are the most important things to avoid when selling copper.
Don’t Sell Anything You Aren’t Sure Is Copper
If you’re unsure if something is copper, there are a few ways to check. You can strike it to see if it lets out a soft and muted sound or a bell-like noise.
Copper shouldn’t ring or produce a clear noise. You can also check to ensure it’s not magnetic and clean it with vinegar and table salt to see what color produces.
If it comes out a bright reddish-brown: that’s real copper.
Avoid Selling to Pawn Shops and Second Hand Stores
Second-hand stores and pawn shops don’t care about you making a profit: they’re a business that has their own profit to make.
If you sell to these stores, you’re going to be operating at a large loss that you won’t be able to recuperate.
Don’t Give Up Your Source if You Have a Good One
If you’re able to source real copper for cheap online or in-person -legally- then it’s vital that you don’t give up your source.
If you do, the person you sell to may decide to cut out the middleman and go to your source instead.
Don’t Forget to Check the Daily Prices Before Selling
When selling your copper, check your prices the day of.
Not only will this give you the clearest view of how high you can price it, but it will also help you understand if you’re struggling to sell that day.
Although you shouldn’t shift your prices around every single day unless the market is rapidly rising: you should allow the market to inform your price choices.
Wrapping Up
Whether you’re selling copper you already have just to get rid of it, or you’re sourcing and flipping copper, now is a fantastic time to sell and make some major money.
Consider selling now, and watch the large profits roll in!
Erin is a business teacher and mother of three. When she’s not in the classroom or fulfilling her obligations as an A+ hockey and lacrosse mom, she’s working on her latest article.
