If you’re thinking of investing in palladium, you’re probably most concerned with how valuable it has become in recent years – especially since 2015. While the price of palladium experienced some fluctuation during the COVID-19 pandemic, buying when the price is at a lower value can result in significant earning if followed by gains.
As with any commodity that fluctuates in value due to market demand, it helps to learn what it is if you want to know what determines its price. For example, palladium is a noble metal, which means it holds a shared property with other valuable metals like gold and silver in that it is highly resistant to corrosion. Additionally, it is used in the manufacturing of many everyday products, such as:
Most people who own a vehicle or are interested in how they work know that a catalytic converter is a component that is added to the exhaust system to reduce the number of harmful gases that are released into the atmosphere. What is less commonly known is that palladium is used as a catalyst that converts these gases into less harmful materials – hence the name of this device. In fact, up to 90% of gases are converted into harmless substances in this way including:
- Carbon Monoxide
- Nitrogen Dioxide
One of the primary reasons that the price of palladium has been on the rise in recent years is because the demand for catalytic converters is also on the rise, especially in countries like China and India that have enormous population sizes and are working to reduce their greenhouse gas emissions.
If you’ve ever had any restoration work done on your teeth, there’s a good chance that you don’t just use palladium every day, but you have some in your mouth. As a noble metal, palladium is used in the care of teeth because it is highly resistant to corrosion, which means that it won’t rust in your mouth and is safe to be there for long-term use.
Due to the need to use precious metals in dentistry, dentists with permission from their patients can collect scrap leftover from repairs to dental work for resale value. If you’re a dentist looking to get cash for your dental scrap, you can contact a company that specializes in extracting and refining valuable metals for resale.
Computers and Electronic Devices
While we may not all understand how circuit boards and computer coding work, it isn’t hard to understand that today’s sophisticated electronic devices contain an enormous number of different parts. Crafting the complex components used in computer hardware and portable electronics requires specific raw materials to fulfill highly specialized functions. Along with palladium, some of the metals used in electronics include:
While some valuable metals and stones are famous for their use in jewelry, lesser-known materials are also used. In recent years, palladium has become a more common metal in jewelry manufacturing because it contributes to hypoallergenic items and has an attractive white appearance.
While palladium is present in many everyday items, the chances are that you won’t own any that you’ll want to sell unless you’re a dentist that understands the importance of keeping dental scrap. If this is the case, get in touch with a company that can salvage palladium and other precious metals from your dental scrap to find out what it is worth.
Photo by Pavel Danilyuk