Palladium is commonly priced per troy ounce. A quoted market reference does not by itself reveal the value of a catalytic converter, industrial residue or finished product. The amount and purity of recoverable palladium must be known.
What is palladium?
Palladium, chemical symbol Pd, is a platinum-group metal. Its catalytic properties support major industrial uses, especially emissions-control catalysts, as well as chemical processing, electronics and other specialized applications. It is also used in jewelry, dental alloys and investment products.
Palladium is often mined as a co-product or by-product alongside other metals and is also recovered through recycling. This means its supply can respond to the economics of a broader mine or recycling stream rather than to palladium price alone.
How palladium prices are quoted
Market coverage generally expresses palladium in a currency per troy ounce. The quote may be a bid, ask, midpoint, benchmark value, futures price or delayed indication. Record the exact source and basis before converting or calculating.
- 1 troy ounce = 31.1034768 grams;
- 1 kilogram = about 32.1507466 troy ounces;
- 1 troy ounce = 20 pennyweights or 480 grains;
- 1 ordinary ounce = 28.349523125 grams and is not a troy ounce.
Read the palladium price and conversion guide.
Palladium purity and fineness
Fineness states palladium content in parts per thousand by mass. A 950 alloy is 95% palladium; a 500 alloy is 50%. Hallmarking standards and the symbols that must accompany a fineness mark differ by jurisdiction, so the context of a mark matters.
| Fineness | Palladium percentage | Context |
|---|---|---|
| 999.5 | 99.95% | High-fineness palladium used for some investment products |
| 950 | 95% | A fineness used for palladium jewelry in some markets |
| 500 | 50% | A lower palladium jewelry fineness recognized in some hallmarking systems |
A stamp is not an assay. Wear, plating, repairs, solder, mixed components or a false mark can make the bulk composition different from the apparent label. Professional testing is appropriate where the value justifies it.
How palladium value is calculated
Fine palladium grams = alloy grams × (fineness ÷ 1,000) Benchmark value = fine palladium grams ÷ 31.1034768 × price per troy ozThis formula is useful when net alloy weight and fineness are known. It does not estimate an unknown coating or a mixed industrial residue. A modeled offer can apply a separate payout percentage after contained-metal value is calculated.
Use the palladium value calculator
Palladium form changes the valuation method
| Form | Useful evidence | Key limitation |
|---|---|---|
| Bar or coin | Marked weight and fineness, producer, certificate and authentication | Premium and buyback spread vary by product and dealer |
| Jewelry | Net alloy weight, hallmark, test result, maker, design and stones | Metal value may not equal resale value |
| Dental or technical alloy | Alloy specification, ownership, composition and refiner terms | Other valuable or problematic metals may be present |
| Catalyst or residue | Part identification, representative sampling, assay and settlement | Gross weight is not palladium weight |
What influences palladium prices?
- Vehicle catalyst demand: vehicle production, powertrain mix, emissions requirements and metal loading affect demand.
- Substitution and thrifting: manufacturers may reduce loadings or substitute among platinum-group metals when technically and economically feasible.
- Mine supply: palladium output is tied to a concentrated set of mining regions and often to multi-metal operations.
- Recycling: recovered automotive catalysts are an important secondary source, subject to collection and processing lags.
- Inventories and investment: available stocks, futures positioning, bar and coin demand, currency and interest rates can influence price.
How to approach a palladium sale
- Identify the item and preserve labels, part numbers, certificates and provenance.
- Determine whether it is known-fineness metal or a material requiring assay.
- Keep troy and ordinary weights clearly distinguished.
- Request the buyer's test, payable-content and price-basis methods in writing.
- Compare net settlement after every fee, not only the headline percentage.
- Do not destroy collectible jewelry or bullion before checking intact resale value.
Why catalytic converters are different
A converter contains a ceramic or metallic substrate, casing and catalyst coating that may include several platinum-group metals. Total converter weight cannot be multiplied by a palladium price. Use lawful, traceable specialist channels and documented identification or assay. Never open, grind, burn or chemically process a converter yourself.
Palladium in precious-metal history
Palladium joined much older gold and silver markets after scientific identification and the development of separation, refining and industrial uses. Our cited research follows that path into modern bullion and investment markets.