Platinum Theft: More On Recycling's Dark Side
We recently posted about how theft of copper wire and tubing is a serious and growing problem affected by recycling and street drug markets - see Meth Heads Go For Recycling. Now that Platinum has become extremely valuable (up to US$1548/oz - preceding day market quote, per table), theft of catalytic converters also has emerged as a serious problem in the cities of California and several other US States. SUV's are primary targets. Apparently, welding the converter to the frame is the preferred deterrent.
Via::Los Angeles Times, "Thieves target vehicles' catalytic converters" Image credit::Kitco, live market quotesThis holiday season has seen an explosion in thefts of expensive, platinum-laced catalytic converters from parked cars, and authorities report that high-clearance sport utility vehicles are the targets of choice for thieves.
With a common socket wrench and 90 seconds, they leave drivers stuck with cars that sound like Harley-Davidson motorcycles, and facing repair bills topping $1,000.
The prize is a catalytic converter, a device used to reduce emissions. Platinum is more valuable than gold, and the contents of a typical converter are worth $40 to $50 to scrap-metal dealers.
Some thieves use saws, but the preferred weapon in Southern California is a ratchet with a 14-millimeter socket. The thief crawls under the car and unfastens the bolts holding the converter, a process that accomplished crooks can complete in 90 seconds.
