How Much Platinum / Palladium / Rhodium in Catalytic Converters – And Approximate Worth

Latest update: September 22, 2023. Page URL indicates original publication date; meanwhile times change and the updates continue.

Platinum, rhodium and palladium are some of the elements known as platinum-group metals, otherwise known as PGMs.

The PGMs reside in the honeycomb region of the catalytic converter. The much-older catalytic converters originally used pellets, before the more efficient and less expensive honeycomb design came into use.

The amounts and proportions of PGMs depends on the age and type of vehicle.

• Cars, light-duty trucks, and motorcycles average total is 2-6 grams.
• Larger-engine SUV's and trucks average total can range anywhere from 6-30 grams.

28.35 grams equals an avoirdupois ounce. 31.1 grams equals a troy ounce.

Gasoline-powered-vehicle catalytic converters use all three of the aforementioned metals (update: at current prices, I highly doubt rhodium is still being used). Diesel-powered-vehicle catalytic converters use only platinum and rhodium (update: rhodium usage for new vehicles is questionable). As a side note, PGMs are also in heavy demand in the electronics industries.

How Much Is a Catalytic Converter Worth?

The Shorter Answer...

Depending on the age and type of vehicle, the PGMs in a catalytic converter can be worth anywhere from $100 to a rare $1,000 or more. The newer and/or smaller cars being closer to $100. The larger, older vehicles could have catalytic converters worth $600 and up. As for the $1,000 and the rampant inflation, older vehicles with the original converter are becoming more and more valuable; something to consider when buying or selling an older vehicle. As a side note, oxygen sensors also use PGMs and have a recycle value.

Regarding the catalytic converter, keep in mind that what the PGMs are worth is not what you will be paid. There is the labor, cost of metal extraction, overhead, and the buyer's expected profit margin; not to mention the greed factor. It would also be wise to be able to prove ownership. Otherwise, a phone call might be being made inside while you are talking with the potential buyer outside. Driving in with the actual vehicle or at least the vehicle's paperwork will give you more legitimacy and probably even a higher price. Do extensively ask around and shop around. Whether a buyer or a seller, do be careful as to whom you associate with: Justice Department Announces Takedown of Nationwide Catalytic Converter Theft Ring.

The Longer Answer...

As a general rule: the older the vehicle, the more PGMs present in the catalytic converter. Because of the high cost of PGMs, industry continually strives to reduce the amount necessary by the use of other metals and materials and/or design changes

• Platinum prices are around $950 USD a troy ounce as of 9/22/2023. This works out to an average of $30.55 a gram.
• Palladium prices are around $1290 USD a troy ounce as of 9/22/2023. This works out to an average of $41.48 a gram.
• Rhodium charts continue to indicate some sort of fixed-price setting. Instead of prices fluctuating in the usual commodity-type fashion, prices periodically move to and maintain certain levels for various lengths of time. It's as if there is a single controlling influence as opposed to the usual supply/demand and investor-speculation randomness. It's as if someone or something is now periodically setting the price. Darned odd. If anyone has any knowledge or theories as to why rhodium prices are no longer exhibiting the random patterns that all other commodities do, please share in the Comments Section. Meanwhile the current price has dropped dead since this last update and is now around $3,450 USD a troy ounce or $110.93 a gram, leastwise until the next price change. As a side note, it's a pretty good bet that catalytic converter manufacturers are still avoiding rhodium usage as much as possible. It sure would be nice to know when rhodium usage for catalytic converters was at its peak; those older-model cars could really worth something. The question is when did rhodium start being used in catalytic converters; when/If did rhodium stop being used in catalytic converters? If new catalytic converter prices are any indication, rhodium is no longer being used.
  

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Needless to say, catalytic converter prices can fluctuate greatly; not only the value, but also the quantity and usage ratio of the three metals aren't exactly carved in stone either. Depending on the price and efficiency of each metal and/or its alloys, the composition and design the catalytic converter manufacturers use may change frequently. Then again, each change buries the manufacturer in the government bureaucracies of retesting, recertification, and no doubt many other laws and regulations; both federal and for each state. This could very well obstruct the manufactures from being able to quickly respond to PGM price changes. This would be especially applicable to after-market manufacturers.

Current prices for platinum and palladium can be found here, note the historical charts as well. Rhodium prices can be found here. Price information resources come and go. If the links stop working, a search will quickly find a new one.

It turns out the information to write this page was not easy to find. Fortunately, I stumbled across much of it buried in a government-archived article about catalytic converter cerium recovery written by the USGS. The article has more information scattered around about catalytic converters, what recyclers might be willing to pay for them, about platinum and the other PGMs, and other recycling information, etc. The prices stated in the government article are woefully obsolete, but the rest of the information is still valid.

Platinum Nugget. Source: USGS

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A personal note: I have a classic 1982 Camaro Berlinetta for sale. It has the original catalytic converter. A picture of it can be found at this article. If you want to buy the whole car, drop me a note.
 

[There are lots of buy/sell leads and advice in the following comments section. Be advised that the leads and advice have not been vetted, usual business caution applies.]