Stealing catalytic converters has always been a boondoggle for local authorities.
A ski mask, a Sawzall, 15 minutes under a car and a black-market buyer in mind — and one could easily walk away with a quick $100 to $300 in cash with no questions asked.
But the petty crime has been on the rise across the country in recent months, and especially in west Kentucky, for one key reason.
The price of precious, rare Earth metals — often present in high-end catalytic converters — has skyrocketed in the computing age. And recent supply and demand has only intensified it.
Depending on vehicle brand, most converters have considerable amounts of three specific pricey metals: platinum, palladium and rhodium.
As of Friday afternoon, platinum was trading north of $27 a gram, palladium was trading north of $60 a gram and rhodium was valued at more than $350 a gram. Some converters can contain up to seven grams of platinum, seven grams of palladium and four grams of rhodium.
In doing that math, the part — which serves as an exhaust emission control device — can be valued at more than $1,500 in the right hands.
On July 19, seven catalytic converters were reported stolen from UPS on Faultless Road, and Hopkinsville Police have noted no arrest has been made at this time.
HPD Chief Clayton Sumner said these thefts are occurring namely because of the chance at some quick wealth, but noted there are a wide number of reasons it keeps happening.
Sumner further noted that catalytic converters weren’t being stolen at this rate 15, 20 years ago, and that things have drifted dramatically in recent years.
In a recent written warning from AAA, East Central Vice President of Insurance Sales Jonathon King said it’s “important for vehicle owners to have comprehensive insurance coverage,” because in most cases it covers catalytic converter replacement if stolen or damaged.
Also according to AAA officials, SUVs, fleet vehicles and Toyota Priuses have been among the most targeted in these petty crimes, because they possess the most amount of palladium and rhodium. And the cost of replacement can run between $1,000 and $3,000.
Tips to protect your car include:
— When possible, park in well-lit areas and close to building entrances, or in garages with locks.
— Have the converter welded to your car’s frame, which can make it more impervious to theft.
— Research buying a converter-protection device, which has been developed for some vehicle models.
— Consider engraving your vehicle identification number (VIN) or license plate number on the catalytic converter. This improves tracking, and could deter black-market dealers and scrapyards owners.
— Calibrate your car’s alarm to go off when it detects vibration.
— Carry a strong insurance policy for replacement.
Sumner said another part of solving these crimes isn’t just negating thefts, but also sniffing out illicit buyers.
For questions and concerns in Hopkinsville, contact HPD at (270) 890-1500.
