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An Old Junk Catalytic Converter may be worth a whole lot more!
A catalytic converter is a device that sits behind the exhaust pipe of your car and is used to reduce the toxicity of emissions from the car engine, or any other internal combustion engine. Catalytic converters are also used on generator sets, forklifts, mining equipment, trucks, buses, trains, and other engine-equipped machines. A catalytic converter provides an environment for a chemical reaction wherein toxic combustion by-products are converted to less-toxic substances. Catalytic converters use a small amount of Platinum to convert harmful engine gases - nitrogen oxides and carbon monoxide, into less harmful gases, like nitrogen and carbon dioxide, which goes a long way to reduce the level of pollution. Yes, this is the same pricey device that you may be required to replace if you fail those EPA Pollution Tests! Thieves have long targeted car stereos, air bags, high-intensity headlights, GPS devices, even pocket change from the ashtrays. But modern thieves looking for a bigger payday are eyeing for catalytic converters sitting underneath your car. Platinum being, in recent weeks, touching $2070 per ounce, and considering each catalytic converter contains between three and seven grams of Platinum, it may be worth anywhere between $250 and $500. While all the precious metals are rising, including Gold, Titanium and yes the ever-dormant Silver, this recent price spike in Platinum is largely the result of fears of mine closures due to power cutbacks in South Africa, which mines some 80 percent of the world's platinum supplies. Catalytic converters not only use Platinum, but may also contain other precious and semi-precious metals, like Palladium and rhodium, which are also used as catalysts, are running about $470 and $9700 an ounce, respectively! Old, junk catalytic converters are sold anywhere between $75 a piece to $150 a piece for foreign cars, like Honda. The world's auto makers, which collectively use 60 percent of the platinum (which, by the way, is also used in jewelry), are striving to find ways to curb their need, which by the way increased in recent past due to the tightening of EPA Laws in the US. Mazda, Honda and many other Japanese car makers are working heavily in the area of nano-technology to reduce the consumption of Platinum and other precious metals, as catalysts. Some of the recent devices introduced by Mazda have almost cut down the use of such metals by as much as 90 percent. Big three US auto makers are testing catalyzed Motor Oil to reduce use of Platinum. |
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