Yes, part of the reason why catalytic converters are so sought-after by thieves is that they contain precious metals. There are one to two grams of rhodium in the average catalytic converter.
They may not sound like a lot, but a single gram of rhodium is worth over $450. If your converter has a full two grams, that’s worth nearly $1,000 to a thief.
For context, pure gold is only worth $53.40 per gram and precious platinum is only worth $29.58 per gram. Of every known substance on earth, rhodium ranks as the 18th most valuable—outstripped only by outlandish substances such as red diamonds, California 252, and antimatter.
But rhodium isn’t the only precious metal in a catalytic converter. Converters also contain platinum and palladium. What has made converters such high-profile targets in the past has been their relative ease to steal and resell, but that’s changed as new laws are making it all but impossible to fence stolen catalytic converters.
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