Sell Rhodium Bullion in Las Vegas | Rhodium Buyer & Value
Rhodium is among the less popular elements out in the market. It’s only familiar to those who pay attention to precious metals, such as industrial companies, jewelers, and, more recently, bullion investors. Investing in rhodium can be tricky since it is uncommon, especially if you are unfamiliar with the right price of rhodium. If you’re unsure with it, you can simply sell your rhodium to get your money back and invest it somewhere else. All you need to do is find a good rhodium buyer, which can be hard to find, especially in Las Vegas. Fortunately, Neil Sackmary of Nevada Coin Mart has made it his mission to help people sell various items fast. Read on if you want to learn more about the value of your rhodium bullion.
Rhodium Selling Price
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. So, if you wish to sell your rhodium bullion, try to think about it first.
Value of Rhodium
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 the rarest among the PMG metals and is present only in 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, experts only recommend rhodium to knowledgeable investors. Its price and extremely volatile market price makes it tricky for novice bullion investors. 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.
Sell Rhodium Bullion
In selling rhodium bullion, the amount of rhodium content in all rhodium bullion dictates the item’s actual value. More often than not, physical appearance and condition will not affect a rhodium item’s value. However, an exception takes effect 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 rhodium buyer to give a higher price.
Rhodium Buyer
Most rhodium buyers base their offers on your bullion’s rhodium content. Hence, it is imperative for a seller to know the current spot price of rhodium in the market. Doing so will help you avoid low-ballers horrible deals once you decide to sell your rhodium bullion. To know more about the spot price of rhodium, go ahead and click here: https://www.kitco.com/charts/rhodium.html
Where to Sell Rhodium
Nevada Coin Mart is licensed by Clark County to legally buy jewelry from the general public. We buy virtually all sorts of jewelry and bullion. If you wish to earn instant cash by selling rhodium bullion, bring your business to Nevada Coin Mart. We look forward to acquiring the following items, if you have them:
- Bars
- Coins
- Rounds
History
Rhodium is a chemically inert, silvery-white transition metal that can be found in palladium. British scientist William Hyde Wollaston discovered it in 1803 through careful chemical analysis of metals that dissolved with platinum. 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.
References:
https://en.wikipedia.org/wiki/Rhodium
https://www.moneymetals.com/buy/rhodium