Stolen in 60 seconds: the treasure in your car

[MSNBC]

Stolen in 60 seconds: the treasure in your car

As precious metals prices soar, catalytic converters are targets for thieves

By Alex Johnson
updated 4:38 p.m. ET, Tues., Feb. 12, 2008

As prices of precious metals skyrocket, thieves are targeting an obscure component of automotive exhaust systems in lightning thefts that can be accomplished in less than a minute, police and automotive experts say.

The component is the catalytic converter, which has been a mandatory part of exhaust systems since 1975. Police across the country say they have seen a dramatic rise in thefts of the components in recent months.

If you peer inside a used catalytic converter, nothing looks salvageable, much less valuable. But some of the gray gunk in there hides three expensive precious metals.
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http://www.msnbc.msn.com/id/23117250/