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Your LOCAL Media since 1918! Volume 105 Issue 6
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Wednesday, October 5, 2022 s
Catalytic converter thefts on the rise, rural areas can be easy prey for criminals Kerry Anderson Publisher
Thirty catalytic converters were stolen from a business northeast of Tofield, south of Chipman, near the Yellowhead Highway in Aug., and the theft is just part of a growing trend that saw such crime increase by 68 per cent from 2020 to 2021. “It’s not a new issue. Catalytic converters have been stolen for years,” says Bryan Gast, national director of investigative services at the Insurance Bureau of Canada. But it’s not the auto parts that thieves seek, but the precious metals inside them. He warns that the value of these precious metals has risen; palladium, rhodium and platinum… which are “more valuable than gold right now,” according to Gast. “We have cameras, but we’ve still probably had the cops here 15 times for catalytic converter thefts,” said Don Henriksen, co-owner of FXD Auto and Parts in Tofield. “They cut right through the fence… there is no way for us to stop them.” Although fluctuating daily, rhodium is selling for over $11,000 per ounce. Palladium is selling for over $2,000 per ounce, and platinum is selling for over $800/ounce. The price of gold presently sits at almost $1,700 per ounce. Platinum, rhodium and palladium are elements known as platinum-group
metals (PMGs). These PMGs reside in the honeycomb region of the catalytic converter. The amount of PMGs depends upon the vehicle, so knowledgeable thieves look to steal catalytic converters from large-engine SUVs and big trucks which can have anywhere from a-quarter ounce to a full ounce of PMGs. Cars, light trucks and large motorcycles tend to have less than a-quarter ounce of PMGs. Toyota Priuses are a target for crooks as they have two catalytic converters. It is questionable if newer vehicles still have the most expensive rhodium as part of the PMGs. New and small vehicles have a small amount of PMGs worth perhaps $100. However, large older vehicles may have up to $1,000 of PMGs. Henriksen says at his auto repair shop, they replace “cats” from time to time as they can clog up and lose functionality. “They’re still worth something,” he says. “We have sold cats anywhere from $35 to $550 depending on the type.” But selling the converters is tricky. FXD deals with a licensed purchaser. They are allowed to sell them, and he is allowed to buy them but he has to be careful that he has the proper paperwork with him while transporting them. Apparently if the police pull him over with a load of “cats,” it can be straight Continued on Page 6
Typical catalytic converter theft, even caught on security camera it is still difficult to identify the crooks.
Pictured is a standard MagnaFlow universal fit catalytic converter
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