How To Deal With Your Scrap Metal - Page 5
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  1. #81
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    Quote Originally Posted by eaglemike View Post
    Not sure if serious.........
    Many years ago I worked at a place that ran a fair amount of brass on some B&S automatics. We had an old converted washing machine tub to spin the chips dry as we filled up the 55 gallon barrels. These were laid on their sides in a row of 8 or so, then next layer of 7. We had a little crane and nylon slings to stack them. When the fourth layer was getting close to full, the scrap people came. I know the company got a very decent check from this "scrap." ymmv.........

    Actually - much of that type brass work is ran in cahoots with the brass supplier (mill that is - Chase or Mueller), and the part is usually ran for the price of the material alone, and the Gross Labor costs come out of the scrap return value. You cannot compete with a strictly brass shop that is set up this way.


    ----------------------

    Think Snow Eh!
    Ox

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  3. #82
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    Glad to see I am not the only one that tosses steel in the dumpster.
    I do such low volumes of any material other than aluminum, anything but goes in the dumpster.
    I haul my aluminum myself. Five 55gal plastic drums well compacted 3-4 times/month.
    Place is about 8.5 miles away. Takes about an hour round-trip. They park a dumpster behind my truck, and I dump the barrels by hand (pain in my ass).
    They are paying about 40cents right now. I net about $220 each trip. If its under $300, they pay cash.
    There are two reasons I haul five barrels at a time. One: I can fit five in my truck (no trailer). Two: It keeps me under $300.
    Doesn't sound like much, until you look at it yearly.
    I only go if I have help in the shop, or Sat. mornings I don't want to run parts. No way I let machines idle, to haul scrap.

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  5. #83
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    I know a shop owner that was dividing the scrap money and giving it to his employees. After he started that he noticed he had to make scrap runs about 1/3 more often. He stopped the payout and ends up with less scrap again!

  6. #84
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    [QUOTE=wheelieking71;3083942]
    They are paying about 40cents right now. I net about $220 each trip. If its under $300, they pay cash.
    There are two reasons I haul five barrels at a time. One: I can fit five in my truck (no trailer). Two: It keeps me under $300.
    [;QUOTE]

    I'm pretty sure my accountant advised me that scrap income is not taxed.

  7. #85
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    Quote Originally Posted by HOMESTEAD View Post
    I can't believe anybody would try to make a living scrapping.
    It used to be different.
    When I was fresh out of high-school, I made damn good money scrapping for a couple years.
    All my friends were struggling to get a few bucks more than minimum wage.
    I was pulling in $40-50k/yr at 19-22yrs/old hauling scrap. There was a ton of manual labor involved, but it paid well.
    When catalytic converters started to become very valuable, the scrap game changed, seemingly overnight.
    I used to pick up engines/transmissions, pistons/rods (from diesel shops doing "in-frames"), and all kinds of other stuff FOR FREE.
    It was a ton of work to round-up, and process it all. But, it did pay.
    When people started wanting me to pay to take the stuff, I got out. That was around 1992.

  8. #86
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    [QUOTE=digger doug;3083950]
    Quote Originally Posted by wheelieking71 View Post
    They are paying about 40cents right now. I net about $220 each trip. If its under $300, they pay cash.
    There are two reasons I haul five barrels at a time. One: I can fit five in my truck (no trailer). Two: It keeps me under $300.
    [;QUOTE]

    I'm pretty sure my accountant advised me that scrap income is not taxed.
    In order to get the good price (and treatment) I had to set up an account. With a business name.
    If they pay over $300, they cut a check (made out to the business).
    I don't know what rules you play by? But, any check made out to my business has to get claimed?

    Doug, what was the name of that scrap yard in Erie under the bridge? I made more trips to that place than I care to remember (post#85)

  9. #87
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    Quote Originally Posted by digger doug View Post

    I'm pretty sure my accountant advised me that scrap income is not taxed.

    Say what?


    --------------------

    Think Snow Eh!
    Ox

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  11. #88
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    [QUOTE=wheelieking71;3083955]
    Quote Originally Posted by digger doug View Post

    In order to get the good price (and treatment) I had to set up an account. With a business name.
    If they pay over $300, they cut a check (made out to the business).
    I don't know what rules you play by? But, any check made out to my business has to get claimed?

    Doug, what was the name of that scrap yard in Erie under the bridge? I made more trips to that place than I care to remember (post#85)
    That was Liberty Iron, and the bridge is coming down.

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  13. #89
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    Quote Originally Posted by Ox View Post
    Say what?


    --------------------

    Think Snow Eh!
    Ox
    Well, I denote that on my income list (separate it out) and
    I thought that's what he said he wanted.

    Will have to check with him again.

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  15. #90
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    [QUOTE=digger doug;3083964]
    Quote Originally Posted by wheelieking71 View Post
    That was Liberty Iron, and the bridge is coming down.
    Yep, Liberty, that was it. They always paid the best.

  16. #91
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    Quote Originally Posted by digger doug View Post

    I'm pretty sure my accountant advised me that scrap income is not taxed.
    How long did it take you to find that accountant?

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  18. #92
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    Quote Originally Posted by digger doug View Post
    I'm pretty sure my accountant advised me that scrap income is not taxed.
    I thought dead presidents were never taxed. The one who wasn't president is best though.

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    I must be the exception to the rule. The folks at the yard I go to are friendly. Its about 15 minutes away and I can the there and back in an hour.

    At the grind shop I worked at about 15 years ago, the scrap yard would stop by every few weeks to pick up the scrap and drop off empty containers. They were even happy to pay for the grinding swarf. They were friendly folks too.

    Bill

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    In California they pay in check only. I understand that is the law as of about 5 years ago. You have to have a vehicle with valid plates and a drivers license. This is so they can track people who are selling stolen metal.
    Bill D

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    Quote Originally Posted by Bill D View Post
    In California they pay in check only. I understand that is the law as of about 5 years ago. You have to have a vehicle with valid plates and a drivers license. This is so they can track people who are selling stolen metal.
    Bill D
    Local to me scrap yard takes a picture of the vehicle on the scales, picture of person being paid, records the license plate, and makes a copy of the drivers license presented.

    Helped me about a year ago when we had one of these geniuses took some stuff. We knew something was missing, but weren't real sure what it was. Finally figured out what had been taken, gave a similar piece to the sheriff who took it to the yard. Within the hour the sheriff called and asked me to come to the yard and identify my stuff. The idiot had taken more stuff than I thought.

    Anyway he got busted and after posting bail, went to Dallas, bought some drugs and guns, took them to Iowa to sell, and got busted there. Spent the winter in the Sioux City jail with a $300k bail. Sheriff said as far as he knows, the guy is still there.

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    Quote Originally Posted by alphonso View Post
    Local to me scrap yard takes a picture of the vehicle on the scales, picture of person being paid, records the license plate, and makes a copy of the drivers license presented.
    That should happen more places. I got ripped off, we called all the local yards. Did find the stuff, (some of the parts even had our logo engraved in it ) but 2 of the yards replied "We seen nuttin' like that" and hung up without even hearing the description. They clearly were used to those calls and were protecting their clientele. Needless to say, we won't patronize those 2 yards.

  23. #97
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    Quote Originally Posted by allloutmx View Post
    Hey All- long time no speak.

    Things have been steadily progressing at the home shop, but not the to level, that I feel warrants having a truck to come pick up my chips on a regular basis. So I barrel my chips 55 gallons(x6) at a time and truck them myself to a local metal recycling center. I have been to at least 3 maybe 4 different places in town and so far I have yet to have a pleasant experience. The guys running the scale are usually awful bitter, and more times than not- the lady handing me the cash is anything but flattering. Aside from that, the money is hardly even worth the effort. I think Id be okay with having them steal from me if they were at least decent, and Id be fine with them being salty if they made the trip worth my while.

    So how can I better educate myself and begin to barter for higher scrap prices? Should I be using a broker? What are some of the things you do to make sure you are getting top dollar for you're scrap metal? Is there a website that I may use to keep track of current material prices(raw or scrap)?


    Thanks in advance!
    -Craig
    Salty were they?
    Used to have an old fellow locally by the name of June Carroll. Talk about a grouch! He OWNED the place and was very likely to tell you to stick it, whether you were buying or selling!
    However, being a hot rod kid at the time, June would on occasion come up with items that I would swallow my pride and deal with him, no matter what.(a 70 model Stage 3 Buick Skylark with a 455 and a FACTORY 4 SPEED, for one). And I figured out the trick with him. Went in once, and he needed a motor pulled. So I pulled it for him. Did him a couple of other favors without trying to rape him on the labor, and got to where I could have nearly anything one the place if I didn't bug him about it. Ask him in a professional manner, pay him in cash, do him a favor now and then, and he became almost human. But if you asked him for anything, anytime, and he made reference to "yea, I got about a hunnerd of em. Keep em round to stick in peoples asses", best thing to do was say yessir, thank you, and git outta Dodge!

  24. #98
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    Quote Originally Posted by Bill D View Post
    In California they pay in check only. I understand that is the law as of about 5 years ago. You have to have a vehicle with valid plates and a drivers license. This is so they can track people who are selling stolen metal.
    Bill D
    We have similar procedures.
    You do get your pic taken, next to the goods you are turning in.
    And, they do snap a pic of the rear of your vehicle (license plate).
    If they don't know you, you have to show your DL.
    If you set up an account, they just keep your DL on file, and they make a new copy for their records once a year.
    The lady paying you out asks for your plate number. If you don't know it off the top of your head, she gets cranky.

    The scale operator where I go told me the other day, they are supposed to report expired tags to the PD.

  25. #99
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    Quote Originally Posted by Bill D View Post
    In California they pay in check only. I understand that is the law as of about 5 years ago. You have to have a vehicle with valid plates and a drivers license. This is so they can track people who are selling stolen metal.
    Bill D
    nah they can and do pay cash never been paid by check for scrap or recycle.
    the recycle place is better to deal with if it's small drops or solid scrap
    but they don't take chips
    now the scrap yard treats every one like a crook.

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    Bureaucracy and all, there is no reason scrap yards shouldn't require a bunch of paperwork, photos, id's to sell to them.

    The cost to the public is enormous and the thieves aren't even making much. My friends church had their copper gutters stolen and replaced them with imitation copper finish ones, which were stolen.

    There was a $12k payout to state employees for material that will cost $1mil+ to replace.

    Middlesex District Attorney

    A coworker of mine used to work with this guy. He at least got some real money for awhile...
    Former MGH Machine Shop Manager Indicted for Stealing More Than $64,


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