Can't wait to get your hands on that shiny iPhone 3G? Me either. Problem is I have to find a way to get rid of my first one. I probably won't do so until I get my hands on the new one, but it's never too early to start thinking about my options. The good folks over at Lifehacker spotted a new service that lets you trade your old cell phone or iPod for cash.

Flipswap is a free trade-in service that allows you to sell, donate, or recycle your old phone. The site uses an algorithm that determines the trade-in value of any phone based on your phone's model, condition, and accessories. If you agree to take their offer, you get to choose how you want to get paid (cash, Amazon gift card) or if you want to donate your money to one of the charities listed on the site (Susan G. Komen, ASPCA). What's nice is that they take care of the shipping costs for you, so all you have to do is print out a pre-paid shipping label and send in your old phone before it ends up in landfill.

Flipswap also has stores in several areas, so if you're near a dealer, you can trade in your old phone or iPod for store credit. Some of the recent trade-in values listed on the site are pretty low, but so far the first generation iPhone seems to fetching anywhere between $250-$150 depending on the model. Has anyone used similar services before? If so, tell us about your experience.

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