Going platinum used to excite musicians, now it's investors
Well, records are made to be broken as any street-corner philiospher can tell you. And platinum has now broken its own price record. More valuable than saffron, or the best Russian caviar, platinum now tops out well over $2,000 per ounce. I coulod not add the zeros fast enough to calculate the price of a Masaerati at $2200 per ounce. If platinum priced like a fine wine, it would be equivalent to a single bottle of Bourdeaux at more than $30,000. That has happened, but not daily for something that doesn't contain alcohol. Come to think of it, at that price buying and selling platinum could be intoxicating...
When I originally blogged the platinum price climb, I noted platinum's used in catalytic converters for internal combustion engines, thus reducing emissions. While there were once stories of iPods being stolen, or laptops, the hot new hot items on the hot sheet: catalytic converters. Like many mindless trends, this one's most intense in California.
San Diego. Sacramento. And a heartfelt consumer warning. Protect your converter.