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OwnershipThieves are breaking into cars to steal a metal more valuable than gold

16:06  04 february  2019
16:06  04 february  2019 Source:   qz.com

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Palladium is the metal of choice for cars fueled by gasoline—a move away from diesel in Europe, as well as more demand for environmentally friendly As Bloomberg reports, prices for the silvery-white precious metal surged around 50% in the past four months. A decade ago, it cost less than 0 an

Gold was long the most valuable of precious metals , until, suddenly, it wasn’t. Last week, an obscure and far less sexy rival called palladium swung ahead Gold briefly retook the lead, but spot palladium prices have beaten out gold prices for the past three days. Thieves are breaking into cars to steal

Thieves are breaking into cars to steal a metal more valuable than gold© Provided by Atlantic Media, Inc. Thieves are stealing palladium

There’s treasure in your car, and it’s just waiting to be stolen.

All but the jankiest of automobiles may now have something of interest for enterprising thieves with an eye for the market: A sudden boom in palladium prices has prompted people to rip out catalytic converters from parked cars, which can then be sold as scrap metal. (In one particularly brazen example, thieves in London held up midday traffic to lift the device from a parked Honda Jazz.)

The rash of thefts come after an upswing in the cost of palladium, related to the European diesel emissions scandal and new emissions regulations for Chinese cars. Palladium and platinum are both used in catalytic converters, which turn harmful pollutants such as carbon monoxide into more benign water vapor and carbon dioxide. Palladium is the metal of choice for cars fueled by gasoline—a move away from diesel in Europe, as well as more demand for environmentally friendly cars out of China, has helped drive up its price.

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The metal is used in catalytic converters to transform harmful pollutants like carbon monoxide into carbon dioxide Catalytic converters tend to sell for up to 0. Thieves in Virginia, USA have stolen 15 In Missouri, thieves are targeting U-Haul trucks as the volume of palladium is larger than in cars .

Thieves are breaking into cars to steal a metal more valuable than gold . “Roger intends to fight the charges as this is nothing more than going after him for 40 years after Watergate and being a friend to the president,” he said.

As Bloomberg reports, prices for the silvery-white precious metal surged around 50% in the past four months. A decade ago, it cost less than $200 an ounce; as of today (Jan. 29), it’s $1,353.10 an ounce. Gold is marginally cheaper, at $1,311.60, while platinum, at $819.20, is a comparable bargain.

The precise targets for thieves seems to vary depending on the region: In Midlothian, Virginia (population 58,000), more than 15 catalytic converters since the beginning of December were stolen from cars parked outside apartment complexes. In the UK, thieves favor European automobiles such as BMW, Audis, and VWs. It’s especially galling for their owners: The converters themselves may sell for up to $400, but the repairs are as much as seven times as expensive.

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The exhaust-control devices common in most cars contain the silvery white precious metal , whose prices have climbed more than 50% since mid-August. Palladium is now more expensive than gold . A supply squeeze, stricter environmental standards and

Thieves are breaking into cars to steal a metal more valuable than gold . Verizon’s forthcoming Nokia 2 V. HMD has a challenge ahead of it—the company’s successes to date have largely been driven by feature-phone sales, rather than smartphones—but the Finnish startup already managed to

In Missouri, especially canny robbers have set their sights on U-Haul rental trucks. The anti-pollution devices were taken from some 20 parked trucks at one U-Haul location near St. Louis earlier this month. It’s a smart choice because larger vehicles use more platinum-group metals in their converters. Ordinary cars, light-duty trucks, or motorcycles might average between 2 and 6 grams of the precious metal, while larger-engine SUV’s and trucks may have almost an ounce.

Though the devices themselves are easy enough to remove with an electric saw, scrap metal dealers are ordinarily obliged to ask for a photo ID from sellers, which is then saved in a searchable database. Thieves may find divesting of their ill-gotten gains somewhat more difficult than obtaining them in the first place.

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What To Do When Your Motorcycle Has Been Stolen.
Six steps to increase the odds of a reunion with your stolen bike There’s a special place in hell for motorcycle thieves—and there are a lot of them. One of those thieves once lifted my machine—in broad daylight while parked and covered—outside my place of business. When my co-worker ran to inform me of the crime, I sprinted to the parking lot to find an empty space where the bike once stood.

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