Here’s How Much Platinum Is Actually Inside Your Catalytic Converter

Platinum has been considered a precious metal for a couple thousand years now, with folks in both hemispheres using it to show off their conspicuous consumption since about 700 BCE. This is partly because of how hard it is to find platinum. Sure, most people think gold is rare, but platinum is some 15 to 20 times less abundant than that — unless you know where to look.

It turns out that there is a reliable and relatively easy-to-access supply of platinum that is just there for the taking. The problem is, that supply is located within your catalytic converter, making it easy for thieves to do the taking. And that’s the case even though each catalytic converter only contains roughly 3 to 7 grams of platinum.

It doesn’t seem like much, but note that the current price for this precious metal is nearly $50 per gram –- more than $1,400 an ounce. When you keep in mind that thieves can remove a catalytic converter from your car in less than a minute, you may not be surprised that one catalytic converter crime ring scored $500 million in just three years. Platinum also isn’t the only expensive element hiding in your catalytic converter and waiting to be stolen. 

Catalytic converters actually rely on three of the six so-called platinum group metals (PGMs) that are known for an odd combination of properties. On the one hand, they all resist certain chemical reactions known for damaging cars, like rust. On the other, they speed up, or catalyze, different chemical reactions, such as the ones helping reduce emissions. With that in mind, automakers typically use platinum, palladium, and rhodium in catalytic converters. The platinum and palladium catalyze reactions with carbon monoxide and hydrocarbons, while the rhodium works on nitrogen oxides.

That’s their order of rarity, too. We already mentioned that platinum is approximately 15-20 times rarer than gold. Well, palladium and rhodium are roughly 15 times and 25 times rarer than platinum, respectively. In fact, rhodium is often considered one of the rarest metals on earth, which helps explain why it’s now priced at more than $250 per gram ($7,125 per ounce). 

Thieves aren’t likely to realize that kind of haul when they make off with a stolen catalytic converter, though, since, along with the few grams of platinum, they only contain 2 to 7 grams of palladium and 1 to 2 grams of rhodium. However, sources do say they can get up to $300 for one stolen from a typical gas-powered car and up to $1,400 for one lifted from a hybrid, which is why they’re among the car parts thieves love to steal.

It’s true that catalytic converter theft has gone down significantly since the pandemic, but those precious metals can still be a tempting target for bad actors looking to make a quick buck. Remember when a school district had to shut down after its buses were targeted? So, it may be a good idea to take proactive measures against the possibility that you’ll be next.

For instance, when it comes to public parking, look for an area that’s well-covered by both lights and surveillance cameras. At home, if possible, park your car inside your garage and/or get your own security cameras. A dashcam that features a built-in motion sensor can also expand your video coverage. Yes, there’s some small amount of evidence pointing the other way, but surveillance cameras have proven their effectiveness in a lot of crime studies. 

You can physically protect your catalytic converter as well by etching your license plate number onto the part. Check with your local muffler shop or police department for resources, and remember that thieves don’t want to hassle with anything that can easily be traced back to a specific crime or vehicle. Some companies also make dedicated anti-theft devices for catalytic converters that you attach to your car to help prevent thieves from reaching their goal — just make sure to do your research before buying.