Rhodium Price & Value for Rhodium Buyers in Las Vegas, NV
Rhodium is a chemically inert, silvery-white transition metal that can be found in palladium. It was discovered by William Hyde in 1803. It can be found in platinum or nickel ores with the other members of the platinum group metals. As a noble metal, it is hard and does not easily react to oxygen. Due to this property, it is often used in automotive catalytic converters. This property likewise contributes to the price and value of rhodium in the market commodities particularly to the buyers of rhodium. However, it is still important to keep track of the spot price of rhodium from time to time.
Price of Rhodium
The price of rhodium changes from time to time due to its rarity. At the start of 2020, it was sold at around $6000 per ounce, then impressively rocketed almost $1400 an ounce around the month of March. But, due to a number of factors, including the impact of the spread of covid-19 on the world economy, the price of rhodium dropped suddenly to $7,800 an ounce before the March even ended. Today, there is still no solid prediction on what will happen to the price of rhodium in the near future, especially since most economies have not really recovered from the damages brought by recent events.
Majority of the world’s rhodium is used in automobiles, but a percentage of it is made into bullion and even jewelry items. It is considered to be the rarest among the PMG metals and can be extracted only from a handful of mines around the world. Some rhodium mines exist in Russia, Canada, and the US, but around 80% of production happens in South Africa.
Most people who invest in rhodium go after rhodium bullion items. These come in different forms: bars, coins, and rounds. But, despite its potential as a form of investment, rhodium is only recommended for experienced investors due to its price and extreme volatility when it comes to its value on the market. If you have rhodium bullion in your collection but have no idea how to trade the item, the best option is to sell it to a rhodium buyer such as Nevada Coin Mart.
Rhodium Value in Bullion
The amount of rhodium content in all rhodium bullion dictates the item’s actual value. More often than not, the physical appearance and condition of a rhodium bullion will not affect its value, except only when dents cause the item to lose some of its precious metal content. This is why it is important to know the metal content of your item, especially how much rhodium it contains. Knowing how much metal content your item has will hint the buyer of rhodium to give a higher price.
Rhodium Spot Price
Since most rhodium buyers will base their offers on how much rhodium your bullion contains, it is imperative for a seller to know the current spot price of rhodium in the market. Doing so will help sellers avoid low-ballers and accidentally close a deal that does not give the best price for their items. To know more about the spot price of rhodium, go ahead and click here: https://www.kitco.com/charts/rhodium.html
Best Rhodium Buyer in Las Vegas, NV
Nevada Coin Mart is licensed by Clark County to legally buy jewelry from the general public. So far, we have bought items from about a million individuals and grant them instant cash. This number shows how much we strive to provide our customers with the best deals as much as possible, making us one of the best rhodium buyers in Nevada.
We also provide free analysis and expert evaluations to customers up-front. This practice, as well as the face-to-face discussion with our team, gives the customer an idea on how much they should earn from their items and create informed decisions before closing a deal. You will definitely get the most cash on top of the price of your rhodium after we assess its rarity and quality.
Sell Your Rhodium Bullion at Nevada Coin Mart
We buy virtually all sorts of jewelry and bullion. If you wish to earn instant cash using your precious items, feel free to bring your business to Nevada Coin Mart. For rhodium owners, we look forward to acquiring the following items, if you have them:
- Rhodium Bars
- Rhodium Coins
- Rhodium Rounds