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Posts with tag ScrapMetal

Ohio short-circuts copper wire thieves

Filed under: Ripoffs and Scams

copper coilThe Governor of Ohio, the state I call home, signed a new bill into law recently which is aimed at deterring scrap metal theft. The new law was introduced last year in response to thefts of everything from manhole covers and kegs to power station and telecommunication equipment. In fact, the state had passed similar restrictions last year citing the theft of cable from AT&T which cost the company close to $80,000, but had a lowly value of $30 to the thieves who stole it.

The new legislation in Ohio would place a higher burden on scrap metal dealers to keep more detailed records of who sells certain types ofscrap metal to them, including most items which are used to deliver a utility, including pipes and cables. This new category of merchandise would be subject to the more detailed book- keeping, including a copy of the seller's driver's license and plate number. Additionally, the law requires the buyer to photograph every item in this category imposes a two-day waiting period for payment, and forbids payments in cash. Sellers of scrap goods would also need to prove that they owned the goods they brought to the scrap yard.

I think this is a wonderful idea and one of the few ways that a dent can be made in the theft of scrap metal goods. Unfortunately, I'm sure it won't take long for thieves to steal some melting pots and melt down copper wire into unrecognizable clumps of metal in order to sell them for scrap. Even if this legislation only helps keep the metal siding on one home, the manhole cover on one street or a beer keg at a college party, it is worth it!

Raising cash in a hurry #14: Salvage your bank account with scrap metal

Filed under: Entrepreneurship, Reduce, Reuse, Recycle

Late on rent? Loan shark breathing down your neck? Can't fill your car with gas to get to work on Monday? Assuming all available funds and traditional sources of credit are tapped out, here are 25 (legal) ways to raise cash in a few days. We list them in order from least to most desperate.

So you need to scrounge up enough dinero to fill up your gas tank for your summer road trip to the beach but you sucked the couch dry of change just getting to work last week. What are you going to do?

Well, one way you can get some quick cash is to sell scrap metal to your local salvage yard or recycling center. My co-worker bought a used camper for just over $600 and took his old one to get scrapped. He was surprised to find out the scrap value of his camper almost paid for his new camper purchase!

While this method isn't something you'll likely be able to survive upon for extended periods, legally anyway, I'm sure you can find something to get melted down. Now is the time to do it as metal prices are getting high enough to spark thefts of copper from homes and catalytic converters from cars.

We want to focus on the legal ways to get some money from scrap metal so first we need to find some. If you are remodeling or have unused copper pipes in your house it may be worth pulling them out and heading to the salvage yard. If pipes are out of reach, check out your garage, basement or shed, where I am guessing you can find something to salvage. This endeavor may be especially profitable if you have been something of a packrat in this metal treasure trove of yours.