Thieves looking for precious metals target catalytic converters
Oct. 28—ALBANY — With price of precious and rare metals continuing to climb, thieves are looking to cash in on your valuables. However, in most instances, they aren't trying to find your jewelry box or that "secret" shoe box in the closet. They are more than likely crawling under your vehicle while it sits in the driveway.
Gold and silver are selling for $1,802 and $24 an ounce, respectively, while rhodium is currently selling for $14,100 an ounce. Palladium is bringing $2,063 an ounce, and platinum is going for $1,064 an ounce. The latter three of these metals are critical components in vehicles' catalytic converters.
A catalytic converter is a component of your vehicle's exhaust system designed to convert environmentally hazardous exhaust emissions into less harmful gases. James Thomas, the owner of County Line Mufflers, said, "A scrap yard will buy them and sell them to a refinery that melts them down for the metal content. Scrap yards are supposed to require identification and proof the converter belongs to the seller. But that's not happening.
"They've got five minutes in it. They get a battery-powered saws-all; they roll under there and cut out the converter and the O2 sensor. They're in and out of there like that. Now the owner has to replace the converter and sensors."
Thomas estimates that if a vehicle owner can use a universal replacement converter and there's only one O2 sensor, the minimum charge for repair is $650. However, depending on the converter and number of sensors, as well as the damage done during removal, the price can run much higher.
One local business recently had converters stolen from five vans in their fleet, and the replacement cost was between $6,000 and $7,000. Thomas said fleet vehicles, church buses and lifted trucks are the favored targets for thieves because they are easy to get underneath. They also frequently are parked in areas with little or no security in a more secluded setting than a homeowner's driveway. However, personal vehicles are not necessarily immune to theft.
During a recent two-week period, Thomas repaired more than a dozen fleet vehicles as well as a number of church buses and private vehicles.
Some of these thefts may be covered under the comprehensive portion of the owner's insurance policy. However, once the policy deductible is factored in, it may not be worth the owner filing an insurance claim for the repairs. The National Insurance Crime Bureau advises that individuals report the theft to their insurer and determine the best course of action.
The NICB also recommends, installing a catalytic converter anti-theft device, parking fleet vehicles in an enclosed and secure area that is locked and alarmed, parking personal vehicles in a garage whenever possible, or installing motion sensor security lights if vehicles are left in the driveway. They also recommend vehicle owners contact law enforcement and their insurer if they are the victim of a catalytic converter theft.
