Actually, platinum, and thieves know it.
The Marion County Sheriff's Office continues to investigate the stealing of Catalytic converter from vehicles, as several more have come up missing.
Chuck Whitehead had eight converters, two chain saws and a chain hoist stolen from his property last weekend, estimated about $2,000 worth of goods. He said they used bolt cutters to cut the chain at his gate sometime between 7 p.m. Saturday and noon Sunday, when he discovered his gate open.Catalytic converters have been installed under cars since the mid-1970s. They use a small amount of platinum, palladium and rhodium to convert harmful engine emissions, including nitrogen oxides and carbon monoxide, into less harmful ones, like nitrogen and carbon dioxide.
Platinum's value can be up to $2,075 an ounce. A catalytic converter contains between three and seven grams of platinum. This recent price spike is largely the result of fears of mine closures due to power cutbacks in South Africa, which controls some 80 percent of the world's platinum output. Smaller amounts of palladium and rhodium are also used as catalysts and they are running about $445 and $7,300 an ounce, respectively.
The average converter brings at least $100. Replacing a catalytic converter can cost about $300 to $1,000. Bigger cars and SUVs make inviting targets, as they can have two converters or even four converters.