Stuff You Should Know Short Stuff: Rhodium
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Oct 4, 2023 Discover the world of rhodium, a precious metal once valued at nearly $30,000 an ounce, now facing an 80% drop. Hear about its fascinating history and the accidental discovery that changed the game for precious metals. Dive into the market's rollercoaster ride influenced by electric vehicle trends. Explore rhodium's critical role in automotive catalytic converters and its shiny allure in jewelry, while reflecting on its environmental impact. This journey through rhodium is as intriguing as it is informative!
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Rhodium's Discovery
- In 1800, William Hyde Wollaston and Smithson Tennant bought platinum ore for a hefty sum.
- They aimed to make platinum malleable, but accidentally discovered rhodium and palladium.
Rhodium's Name and Properties
- Rhodium gets its name from the Greek word "rhodon," meaning rose, due to its reddish salts.
- It's a noble metal, related to platinum and part of the Platinum Group Metals.
Rhodium's Rarity and Value
- Rhodium is incredibly rare, typically found in alloys and minuscule amounts.
- It peaked at nearly $30,000 per ounce in 2021 but has since dropped to around $4,000.