A catalytic converter...is designed to convert the environmentally hazardous exhaust emitted by the engine and convert them into less harmful gasses. To do this, they use platinum, palladium, or rhodium. In recent years, however, the values of these precious metals have skyrocketed.
December 2020...
rhodium.....$14,500 per ounce
palladium....$2,336 per ounce
platinum......$1,061 per ounce
March 2022...
rhodium.....$20,000 per ounce
palladium....$2,938 per ounce
platinum......$1,128 per ounce
Typically, recyclers will pay $50 to $250 per catalytic converter.