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by ddingus
1491 days ago
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That appears to be ramping up again. One of the people on a project I'm working with them on just had theirs stolen. And it could total their car! People driving used Hondas may find out insurance won't cover, or will want to just total used cars due to the converter being worth more than the paper value of the car, despite a used market valuing the car much higher! Cost $1,200 to $2,400 to replace and due to the last round of this theft happening, the legal requirements are now stiff. One can't just go get one of these and install anymore. Has to be done in a shop, and there is traceability on everything. Expensive. Yet the thieves can still somehow trade the metals. |
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It isn't hard to melt down the metals and extract the valuable ones. A proper factory can do a much better job (get more of the valuable metals out), but it is something I could profitably do in my backyard over a fire. I haven't looked into the details of refining platinum, but I doubt is is much different from any other metal. (when I looked into it I lived in an area with a lot of iron deposits, I've since moved and no longer have access to iron ore so that potential hobby is dead to me)
Once you have raw metals you can claim any source you want. Just form them into a ring and say you were saving it for your anniversary, but your wife left you - I'm sure you can come up with other ways to make it look like got a legal source.