Why Newer Cars Are Your Best Source of Gold Scrap
When was the last time you lifted the hood of a car that was made in the 1960s? Let’s say, a 1965 Ford Mustang? If it’s been a while, you might have forgotten that on cars that old, electrical components were pretty minimal. There were a battery, distributor cap, spark plugs, and wires running to headlights and other electrical devices. Not too much electrical activity going on.
Lift the hood of a car that was made recently and you won’t see much at all, because the entire engine bay is probably covered by a large plastic shield. That’s there to keep amateur mechanics from poking around. And even if those mechanics lift that shield and try to repair anything, they won’t have much success, because today’s engine bays are jam-packed with electrical components. There are trip computers, and electronic devices to control the fuel injection, climate control, back-up camera, navigation system, and just about everything else.
The Following Statistics Tell the Story
According to statistics compiled by Statistica.com, electronic devices have been becoming a bigger and bigger part of the cars that have been made over the last few decades. Statistica reports that:
In 1970, electronics made up 5% of a car’s total cost
In 1980, it was 10%
In 1990, it was 15%
In 2000, it was 22%
In 2010, it was 35%
By 2030, it is projected to reach 50%
What Those Statistics Mean for Precious Metals Investors
The biggest lesson is that newer cars contain much more circuitry than older cars do – and printed circuit boards contain gold scrap that can be extracted and recycled for cash by a modern precious metals refinery like Specialty Metals Smelters and Refiners.
The newer the car, the more gold it will contain.
And here’s another fact to keep in mind! Hybrid cars (both plug-in and otherwise) and electronic vehicles contain even more circuitry than modern gas-powered cars do. So if part of your precious metal investing strategy is to purchase components at automotive recycling yards, try to focus on the most modern vehicles there, not on oldsters.
And when you remove that electronic scrap call Specialty Metals Smelters and Refiners at 800-426-2344 to talk with our precious metals consultants. If you want to have fun driving around, that 1965 Mustang is your ride. But for profiting in precious metals, that junked Prius is what you should be looking for.