How Much Money Is A Catalytic Converter Worth

Latest update: October 22, 2021. 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 rare-earth 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.

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. As a side note, oxygen sensors also use PGMs and have a recycle value.

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

Due to supply chain issues and chip shortages, all three catalytic converter PGM prices have major dropped during the last six months; during the last 30 days, prices have once again begun to rise. As of this latest update, platinum prices are around $1,060 a troy ounce. This works out to $34.08 a gram. However and as usual, that troy ounce price could change either way by $50 in a heartbeat.
Palladium is around $2,119.50 a troy ounce or $68.14 a gram, the $50 heartbeat caveat likewise applies.
Rhodium prices have been the most chaotic of the three during the last six months. Prices have ranged from a high of $26,000 per troy ounce to a low of $10,000; price currently around $12,950, price-per-gram now being around $416.40; heartbeat fluctuations of $200 per troy ounce are the norm. 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 I would think are really worth something. The charts show rhodium about $575 a troy ounce 5 years ago.

Needless to say, prices 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 foundhere, 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.

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Site Owner: Lon Morris

Platinum Nugget. Source: USGS

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

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