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Thread: WHAT!!! $3000.00 an ounce

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  1. #1
    us
    Grant Brandenburg

    Jan 2013
    Colorado
    Bounty Hunter Tracker IV
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    WHAT!!! $3000.00 an ounce

    I buy or trade gold and silver for mostly vintage watches and jewelry pieces at this PM buyer / coin shop. As I was scanning all the goodies he has in the cases I saw what looks like a silver ounce, with 3000 on it, but I soon realized it's rhodium. I wonder if rhodium was ever used in anything you could recover by scrap? It's been used for some time as a plating over silver in some cases to prevent tarnishing, but clearly a little amount must go a long ways for that use. I've got one piece of English Silver, made around the later 1860s, that's rhodium plated and I would say it looks like a somewhat heavy plating over it. It still has a bright untarnish luster, as though it was made no more than 10 years ago.
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  2. #2
    Charter Member
    us
    Sorry Honey, I canít. Iíve got plans with my metal detector.

    Nov 2013
    Mountain Maryland
    Garrett AT Pro, AT Max
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    I recall my wife having her engagement and wedding rings rhodium plated.
    Yeah they were cleaned up and prettier, but I couldn’t understand why it was so expensive to have done...guess at 3 Dimes an ounce, I get it now.
    tamrock and Kray Gelder like this.
    EVERY COIN, SILVERS, AND TOKENS FOUND IN FLORIDA I SOLD...STARTING FRESH IN MARYLAND

  3. #3
    Charter Member

    Sep 2014
    Midwest, North of 36į60'
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    Don't really know for sure but I heard someplace that rhodium plates very well but forming a bar of it is some kind of magic trick.
    Kray Gelder and tamrock like this.
    Liberty is the Freedom to do the next Right thing.

    In God We Trust


  4. #4
    us
    ARC

    Aug 2014
    De Tampe Bahia - La Florida
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    Its the second rarest element on earth... Its used to hide imperfections and a higher sheen to silver / white gold and a protective coat from scratches.

    South Africa produces 80% of it.

    Personally... I don't like plated anything... it does wear off and looks like crap and will require a re plating.
    tamrock likes this.
    Have permission... Fill holes... Dispose of trash. - The Random Chat Thread - http://www.treasurenet.com/forums/ev...l-welcome.html

  5. #5

    Feb 2017
    391
    534 times
    All Types Of Treasure Hunting
    Hi,

    Rhodium is a platium group metal. As such it wont tarnish, not in 10 years and not in 100 years. Besides pating silver, its used in catalysts (i guess both car and industrial). Its price shows high volatility and has over ten years ago peaked over 10k dollars, yet was also lower as common platinum some day. Kitco gives a current price of around 2600 USD, so 3000 for small scale physical is not so out of question.

    Its exotic, I would not invest physical.

    I lost money on it (paper not pysical).


    Greets Namxat
    tamrock and Kray Gelder like this.

  6. #6
    Charter Member
    us
    papa

    Feb 2017
    Georgetown, SC
    Fisher F75
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    Tamrock, I had a flea market business for a few years, that I stopped about twelve years ago. I sold cheap jewelry, gold plated bling, and sterling silver stuff, rings mostly. I sold hundreds of rhodium plated silver rings. I had this weekend business grossing $24,000 per year, mostly $5 to$10 per sale. Ugh! Extreme theft, extreme annoyance...Anyway, never really researched Rhodium. Here's what I dug up this morning:

    Extremely rare, only about 3 tons are produced globally per year.
    80% is used in automotive catalytic converters, and as a catalyst to make nitric acid and acetic acid.

    Nitric acid: 80% is used in making fertilizers, the balance is used to manufacture such things as nylon, explosives, adipic acid, toluone, diisocyanate (TDI), and nitobenzene.

    Acetic acid: 6 million tons produced annually mainly through Rhodium catalyts. Has 358 industrial uses. Primarily to make vinyl acetate monomer, and as a preservative in food production, beverages, pharmaceuticals, agriculture, and animal feed.

    Now I see the high trading price and why.


    "And so the population was gradually led into the demoralising temptations of arcades, baths, and sumptuous banquets. The unsuspecting Britons spoke of such novelties as 'civilisation', when in fact they were only a feature of their enslavement." Tacitus, Roman Senator and Historian, written AD 98.

 

 

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