I depends on what you are making. If you are making a part that is non critical and takes little load, then anything you pick out of the junk pile will probably work. On the other end of the spectrum, for parts that go on millitary aircraft, you have to have records on the metal you are going to use that go back to the diging up of the ore, composition testing, hardness testing x-ray and mag particle or die penetrant crack inspection on every part (and sometimes the raw material before machining the part). For most of the stuff we make as hobbyist just buy known alloys from a metals dealer. This won't absolutely garuntee you quality material, but it is economical and will get you good material 99% of the time.