Why Thieves Target Catalytic Converters, and How to Protect Your Car

A catalytic converter is a device found in car exhaust systems, designed to prevent toxic pollutants from being emitted to the environment. This device works by converting these harmful pollutants into safer by-products like nitrogen, carbon dioxide and water vapor. Its structure is coated with platinum group metals that act as catalysts which trigger chemical reactions that help transform the pollutants into less harmful substances.

These metals are preferred because they can resist chemical reactions which damage cars like rust. The metals in question are rhodium, palladium and platinum. Rhodium focuses on catalyzing reactions with nitrogen oxides while palladium and platinum work on hydrocarbons and carbon monoxide.

Platinum is a silver-white precious metal that’s said to be even more rare than gold. The metal has several uses, among them in jewelry because of its durability and in electronic components like sensors and hard drives.

Palladium and rhodium are said to be even more rare than platinum, with rhodium being considered as one of the rarest metals on the planet.

It is estimated that each converter contains between 3-7 grams of platinum and roughly 1-2 grams of rhodium. While this doesn’t seem like much, a gram of platinum currently goes for about $50 while a gram of rhodium may go for more than $250 per gram.

Considering that it takes less than one minute for these converters to be removed from a vehicle, imagine how much money a crime ring could make in a year. Sources say that catalytic converters stolen from a gas-powered vehicle go for about $300 on the black market, with those from hybrid vehicles going for roughly $1400.

With this in mind, it may do you good to know how to protect your catalytic converter from being stolen.

So, how can you protect your catalytic converter from being stolen?

For starters, car owners should always ensure that when parking in public areas, their spot is well-covered by both surveillance cameras and security lights. They can also install a dashcam with a built-in motion sensor to expand their coverage.

Additionally, car owners may benefit from parking their vehicles in their garages and/or installing their own security cameras for extra surveillance. It is also helpful for car owners to carve their license plate numbers onto the device. This can be done by your local shop or your local police department.

Individuals willing to go the extra mile can also look for anti-theft devices for catalytic converters manufactured by different firms. These devices are designed to attach to an individual’s car, preventing thieves from reaching the converter itself.

The ongoing concerns about the rampant theft of catalytic converters show that companies like Platinum Group Metals Ltd. (NYSE American: PLG) (TSE: PTM) that focus on mining rare minerals like platinum, rhodium and palladium are onto something and stand to benefit from the increasing use of these metals in vehicles.

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