Chief Magnet Fisher And Writer Around Here.I have been a keen magnet fishing enthusiast for the best part of 6 years now and have picked up a lot of cool tips and ideas along the way. I share them here on Hobby Magnet Fishing to hopefully help and inspire you to take part in the hobby.
You can read more about my journey on the About Page.
This is a topic that is close to my heart, I love trying to make some extra money to pay the bills. Believe it or not I have managed to make quite a bit of extra cash through my love of Hobby Magnet Fishing.
With that in mind I am going to share my experiences of making some extra cash through this hobby. Some of the ways will bring in a little bit extra but as you will see, some can be quite lucrative!
So what ways can you make money by magnet fishing?
There are several ways to make money magnet fishing including:
- Saving up and selling your scrap metal.
- Selling your good finds.
- Documenting the hobby on a YouTube channel.
- Writing on a website or blog like this one thay you are reading.
- Buying and selling magnet fishing equipment.
Ways to make a profit from magnet fishing.
I now want to go into a little more detail about each one. Let you know how much money you can make from each method and tell you my own experiences from trying them.
After that you can decide for yourself if it is worth trying to make a profit from magnet fishing.
Saving and then selling your scrap metal.
If you have not already been magnet fishing yet you will be in for a surprise with the sheer amount of scrap metal that you will find.
You may see it all and think that it is just a pile of rusty old metal. However did you know that even the most basic iron scrap metal has a scrap value?
You can trade it in at a local scrap metal merchants for cold hard cash with total ease.
From my experience and from some research the average price per ton of magnet fishing scrap metal is $160 which works out to about $0.08 per l/b. That might not seem much but it soon adds up on something you were only going to dispose of anyway.
Selling your good finds.
Now dependant upon who you ask this option can be seen as very unethical. However there are no laws surrounding it unless the item you have found is stolen.
So in theory you could actually sell your good magnet fishing finds to make a profit.
Personally I do not mind this option, if it is a find that you have no interest in keeping then why not let someone else who does want it have it, for a little bit of cash of course.
As for profitability, this is totally dependent on what the item is that you found whilst magnet fishing.
A bag of old bolts will not make you very much money but an old rifle or artefact could be worth hundreds if not thousands of Dollars.
You may also find valuable jewellery or other items in find such as cash boxes and safes. The possibilities are endless and it certainly is a good way to make money.
Document the hobby on a YouTube channel.
Would you believe me if I told you that once upon a time I had a YouTube channel that was about magnet fishing and metal detecting?
Well it is true, it was not a massive channel, I had around 5000 subscribers on it and made quite a few videos.
The videos that really brought in viewers were always magnet fishing videos, there really is a large audience who are interested in it. My most viewed magnet fishing video had around 350,000 views!
For uploading the videos and getting views to it I was rewarded with around $2 per 1000 views that the video got. For that one video alone I was paid around $700!
That is quite some return on the investment as I was only filming myself enjoying my favourite hobby.
So if you are not camera shy and are up for the challenge of making some videos having a YouTube channel is a great way to make money from magnet fishing.
Make a magnet fishing blog or website.
If you have a passion for magnet fishing and love to put your thoughts into words you could start a blog or website.
Just like I have here at Hobby Magnet Fishing.
It is a bit of work but it is thoroughly enjoyable. What makes it even better is that you can make a boat load of money doing it!
Take this website for an example. I can place adverts on my website which pays me around $10 per 1000 visitors that the site receives.
I also recommend products I thoroughly enjoy using and these product recommendations have an affiliate link attached to them. So when a visitor decides that they like the product I have recommended and click the link to buy it from Amazon I will receive a small commission based on the products price. Of course this comes at no extra cost to the buyer.
Building up a magnet fishing blog or website really is an awesome and fun way to make money magnet fishing.
Buying and selling magnet fishing equipment.
If you really fancy a challenge and want to make the big money from magnet fishing you could always set up an online store.
Magnet fishing is big business at the minute with lots of new people taking up the hobby every day or upgrading their equipment.
You can buy good quality neodymium magnets from China for cheap and then sell them on for a profit in your store or on a platform such as Amazon and Ebay.
This is a seriously ambitious plan but if it works out it will make some serious money.
At the end of day magnet fishing is an outdoor hobby that should be enjoyed with or without the chance of making some money.
However if you are that way inclined there is a lot of money to be made with the idea that I gave you above. I have tried and tested most of them and I can tell you that they really do work.
Have a think about them and see if any of them would be suitable for your situation. I hope that you have enjoyed reading this guide, if so why not check out my complete magnet fishing guide.