Do you know what this is?

If you guessed CATALYTIC CONVERTER, you are correct!   

According to a report by the National Insurance Crime Bureau (NICB), the increase in catalytic converter thefts has been dramatic.

  • 2018, there were 1,298 catalytic converter thefts for which a claim was filed
  • 2019, it was 3,389 thefts with a claim
  • 2020, catalytic converter theft claims jumped massively to 14,433, a 325% increase in a single year.
  • Though not a reporting of all catalytic converter thefts, it did provide a look at the trends of catalytic converter thefts. 

What is a CATALYTIC CONVERTER and why are they being stolen?

  • device that looks like a small muffler along the exhaust system
  • designed to convert the environmentally hazardous exhaust emitted by the engine and convert them into less harmful gasses
  • in order to do this, it is made with the metals platinum, palladium, or rhodium
  • the values of these precious metals have skyrocketed
  • as of December 2020
    • rhodium was valued at $14,500 per ounce
    • palladium at $2,336 per ounce
    • platinum going for $1,061 per ounce
  • typically, recyclers will pay $50 to $250 per catalytic converter.

To reduce the chance of having your catalytic converter stolen, the NICB and Lower Moreland PD recommend the following: 

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Source: Catalytic Converter Thefts Skyrocket Across the Nation | National Insurance Crime Bureau (nicb.org)