Household Stuff: Found Money

Your attic, basement, or closets could be hiding valuable assets that are just waiting to be turned into cash.

Dictionary.com defines junk, in part, as "anything that is regarded as worthless, meaningless, or contemptible; trash." But junk can also be your easy ticket to raising cash.

Internet consignment and eBay

It sounds like an infomercial claim or the subject line of a suspect email: make money online by de-cluttering your home! But thanks to the Internet, you're bound to find someone, somewhere who's willing to pay money for your old stuff. If you're a do-it-yourselfer who owns a digital camera, you may prefer setting up your own account with eBay (or any auction site) and manage your own sales. Another option is to contract with an Internet consignment store. These service providers take the pictures, write the descriptions, and ship sold products for you, in return for a commission on the sale.

If you don't think you have anything anyone wants, think again. eBay's list of hot selling categories includes:

• Developmental baby toys
• Sewing buttons
• Agriculture catalogs
• MiniDV camcorders and digital cameras
• Clothing for boys and girls
• Coins
• Comics
• CPUs for laptops
• iPods
• Cross stitch kits
• Barbie dolls

Heavy metal

Old jewelry and scrap metal can be moneymakers, too. Gold jewelry may be the easiest thing to sell; you can find dealers on the Internet. These guys will usually accept your jewelry by mail, make you an offer, and then send you a check. Generally, they'll evaluate your gold based on weight and purity, as measured by karats. The market price for 24-karat gold in recent weeks has fluctuated between $900 and $975 per ounce, but you can expect the dealer to buy it from you at a discount so he can make some money in the deal. Also, the lower the karat value, the less the dealer will offer you. Finally, remember that gold dealers only pay you for gold, so remove the precious gems from the settings before you hand over your jewelry.

If you have scrap metal to unload, take it to your local recycling center. Copper, steel, and aluminum are always in demand. Copper is one of the most efficient metals to recycle, because it can be melted down and reused almost repeatedly with little loss in quality. A recycling center might give you $2 or $3 per pound for old copper plumbing and other copper building materials that you have lying around. Aluminum will earn you about $1 per pound, while steel is worth only about $.06 per pound.

Knowing that you can raise money by selling your old stuff definitely puts a new spin on the word junk. When the cash flow is tight, look no further than your attic for a quick source of cash.