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Catalytic converters looking like a gold mine
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By MARLA TONCRAY, News Editor
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It takes just three minutes to steal a catalytic converter and it's being done at night, in the middle of the day, and in public parking lots, just about anywhere at anytime.
Catalytic converter thefts have increased nationwide as the price of platinum has moved up in the precious metals market, and the Buffalo Trace region is not immune to the trend.
In recent months, reported thefts of catalytic converters have jumped significantly and could even be classified as moving toward epidemic proportions.
Maysville Police Department Lieutenant Justin Horch provided data which shows only one reported theft in February 2008 compared to 10 reports for the period of May 1, 2008, to the present. In one report, three catalytic converters were stolen from a local car dealership.
Mason County Sheriff Patrick Boggs also provided data from his department. From a period of Feb. 1, 2008, to May 31, 2008, 18 thefts have been reported for a total of approximately 50 catalytic converters. Boggs said 40 of the units were stolen in May alone and some reports included multiple units being taken from one individual or a business.
When asked if there has been a sharp increase, Boggs's answer was without hesitation was "most definitely."
Horch said the number of reported thefts may be lower than actual thefts, because insurance policies, depending on the type of coverage, may not cover the theft.
"I don't think we have a true idea of how vast this problem really is," Horch said.
Fleming County Sheriff Scotty Royse has also been investigating catalytic converter thefts, and reported to members of the Fleming County Fiscal Court last week he has recorded 52 units stolen from Fleming County within recent months.
And it's not just any catalytic converter which are being targeted; foreign cars, primarily Toyota's are the most popular brands being targeting by thieves.
The reason for this according to law enforcement officials is the amount of platinum in the converter.
Jimmy Butler, owner of Butler Recycling in Maysville agrees it is the platinum content of foreign brand vehicles which makes them more appealing than American made cars. In addition to platinum, the converters also contain rhodium and palladium, both of which can also be recycled.
All three of the metals are used in catalytic converters, but platinum is the primary metal, Butler said. In addition to the internal metals or alloys, the entire unit is made of steel, another recyclable metal.
Butler Recycling does not process the metals from the units. Once any product comes into their facility, it is then shipped to a processing facility.
Butler said one of the driving factors behind the increase in thefts can be attributed to the stock market which has seen an increase in prices for precious metals such as platinum and copper, which in turns offers a higher profit margin to those who recycle.
Butler said as a consumer we look for lower prices when shopping, for those who are looking to make money through recycling metals, they look for the product which yields the highest return.
And it isn't just platinum which has increased in value on the stock market; aluminum cans are now bringing in more money than before, moving from an average of .60 cents per pound in 2007 to 80 cents per pound today.
Butler also said he believes it's the state of the American economy which is contributing to the increased number of thefts. Citing rising fuel prices, food prices, and health care, Butler said in his opinion, more than a new law which takes affect July 15, 2008 has contributed to the escalating problem.
When asked the same question, Boggs said he also believes the economy is to blame more than the stricter guidelines about to be imposed.
In April 2008, House Bill 106, which was sponsored by Rep. Mike Denham, was signed into law by Gov. Steve Beshear. The new law would expand legal provisions to combat not only copper theft, but all non-ferrous metals.
"We think this will go along way to stem the tide of these thefts," Denham said at the time. Denham described non-ferrous metals as those not containing steel.
Under the bill, which takes effect July 15, all recyclers and scrap dealers are required to photocopy the identification of any seller along with the license plate number of the vehicle they were using to deliver the metals. The details of each transaction would be logged, with the records available for inspection by law enforcement as necessary.
The bill also requires dealers to maintain records on transactions for two years and they cannot buy from anyone under the age of 18. House Bill 106 expands which law enforcement agencies may inspect records; previous legislation gave this power to only the sheriff's office, but the new law expands that to include local police departments and Kentucky State Police agencies.
The new law provides penalties for those who break the law: $100 fine for each offense or 30 days in jail, or both may be assessed.
The sale of certain items will be exempt from the new requirements, including whole cars, guns, knives, jewelry, and aluminum soda cans.
Butler said he has already been taking photographs of each item, except transmissions and batteries, which comes into his business, as well as recording the person's license plate number and making copies of driver's licenses. All of which have been a requirement for copper recycling under state law, but a practice Butler said he adopted several years ago and has applied to all transactions at his business, with the noted exceptions.
Butler said the price offered for catalytic converters at his business ranges from $14 to $300 per unit, based upon the make and model of the car the converter came from.
For the consumer who has been the victim of a catalytic converter theft, the cost to replace the unit can be several thousand dollars.
When the unit is removed the vehicle, there can be damage to the exhaust system and the electrical system which controls the vehicle's computer systems. There is also time away from work and depending upon where the work is done to install a new converter, out-of-pocket expenses to get the car to the repair shop..State Farm Insurance Agent Bill Boggs said his office has filed four thefts claims in two weeks, all of the converters stolen were from foreign car models. One customer's repair bill was $2,177 because of damage to the vehicle's wiring harness, which connects to the dashboard.
Boggs, as well as Barbie Zweigart at Downing Insurance, said policyholders with comprehensive coverage are covered for theft and vandalism and depending upon deductible levels out-of-pocket expenses will vary.
"These people are very brazen in getting in and out," Boggs said.
Zweigart said her office hasn't had any claims, but encouraged customers to check their policy.
"People may not be aware that it can provide coverage," Zweigart said. |
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Reader Comments
Comments are limited to 200 words or less.
disgusted wrote on Jul 15, 2008 1:19 AM: " If the recycling centers would quit accepting these items, they would have no place to sell them therefore they wouldn't be likely to steel so many "
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