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Cost and availability of iridium

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Q. What is the cost of iridium metal in Indian currency with carats?

Prakash T V S
- Hyderabad, A.P., India


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A. Iridium Price varies according to the grade you require and quantity you require.

Atul Goyal
- Mumbai, Maharashtra, India


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A. Sir, the cost of iridium is listed on www.kitco.com, but its availability is doubtful in India.

Harish Kumar Jain
smelting gold - Chennai, India


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A. Hi, Prakash.

Iridium is a precious metal, and the price of precious metals fluctuate rapidly, The daily price can be found at sites like mineralprices.com and kitco.com, but to put it into perspective because of different currencies, etc., the price of pure iridium is in the same neighborhood as 24K gold when world currencies are stable. But it's probably somewhat less costly when currencies are not stable, because gold tends to be hoarded more than the other precious metals.

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey

Fraud! How to Protect Yourself


July 11, 2010

Q. Where is iridium found ? how can we use it ? how much the prize?

suriya lee
student - INDIA


July 11, 2010

A. Hi, Suriya.

Iridium is a precious metal (currently costing 75 to 80% as much as gold).

By definition, precious metals are rare, but the usual source is as a trace metal found when mining platinum. It is very heavy and extremely corrosion resistant, even at high temperatures. It is used as an electrical contact and even a spark plug electrode =>

There is an entry for iridium in Wikipedia.

Maybe there is a typo in your question, and you are asking for the price? But if not, how much is what "prize"? Iridium is a precious metal with industrial uses, but there is a lot of scamming going on about ridiculous "magical rice-pulling powers" and other nonsense. As PT Barum put it, "There's a sucker born every minute".

Regards,
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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey

Iridium Spark Plug


August 25, 2010

Q. What is the rate of iridium copper alloy it seems the rates are way too far from the gold and silver...is there any matter in it or is just rumours?!?!
and if there are real iridium to be found what is next?!?

Nikhil sam
- tamil nadu, India


August 25, 2010

A. Hi, Nikhil.

Of course there is real iridium -- just as there is real platinum, palladium, rhodium, and gold. It is element #77 in the periodic table, and a precious metal. It has been used as a coating on spark plug electrodes. I've also seen it used as a contact point on anodizing racks. You can find the daily selling price for iridium at places like www.kitco.com and mineralprices.com. Yes it's expensive because it is a rare precious metal, but it's nowhere near as expensive as platinum.

Beware of scammers claiming ridiculous "magic powers". They are a pestilence robbing the gullible. And remember that an alloy of iridium and copper is worth far less than pure iridium, in the same way that 9K gold is worth far less than pure 24k gold.

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


March 28, 2011

Q. Which country has the highest iridium sources?

siva kdeleted
student - hyderabad, India

March 31, 2011

A. Hi, Siva.

It's usually obtained as a byproduct of platinum mining. So whatever country is mining the most platinum is probably recovering the most iridium. But it's everywhere; per "The Elements" by Theodore Gray: "A thin layer of indium-rich clay present all around the world marks the boundary between the Cretaceous and Tertiary periods" =>

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey

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The Elements


June 14, 2011

Q. Dear Sir,
Kindly tell me about the law relating to Iridium marketing. If I get a coin of Iridium, can I sell it to anybody or any organisation in my country?
Will it be illegal or not in the context of Indian law?

Chandan Hossain
Hobbyist - Kolkata. India.West Bengal

June 2011

A. Hi, cousin Chandan. I'm half a world away in the USA, so I'm not familiar with India's laws. But it would seem to me that if you are allowed to sell gold coins and precious metals, then you are probably allowed to sell iridium coins; they are similar precious metals, and pure iridium is only slightly less valuable than gold.

Of course if you are selling them for substantially more than their intrinsic metal value, and they are not legitimate collectible coins of established value, you could certainly be accused of being involved in that rice-pulling nonsense type of scamming. And as far as I know, there is no corner of the world where scamming is not immoral, unethical, and illegal.

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


August 18, 2011

Q. What is the application (in real world) of Iridium?
There is talk that the iridium can pull rice, pull candle flame due to some magical power?
Is that all true?

Naveen S
Employee - India

August 18, 2011

A. Hi, cousin. In view of what you have just read, I really can't understand your question. Please read the page again, slowly.

But some people will not be dissuaded from belief in magic. And I suppose it's okay to believe if it makes you feel good, as long as you don't scam anybody by selling them such a coin, and as long as you don't throw away money that your family needs on such foolishness.

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


December 24, 2011

Q. Dear Ted Mooney,

Are there any approved vendors for selling and purchase of iridium? Can I have couple of details of sellers of iridium.

sagar

Vidya Sagar
- Hyderabad


December 26, 2011

A. Hi, Sagar.

I am half a world away so I really can't tell you the names of precious metal dealers in your neighborhood, but anyone who buys and sells silver, gold, and platinum probably buys and sells iridium and other precious metals. Just be careful to not be so stupid as to get involved in nonsense like "rice pulling" scams.

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


February 15, 2012

i. You know why most of askers are from India? I tell you most of them work with gold. Because in India people test the purity of jewellery by refining sample via nitric acid. And gold is more valuable than iridium here, so if they add iridium into gold they get more money.That's why

Jay Soni
- A'bad, Gujarat, India


February 15, 2012

Thanks Jay. I think I am understanding you to say that iridium is cheaper than gold but tests as if it was gold. So jewelry with, say, 10 parts gold, 4 parts iridium, and 10 parts copper would test as 14k gold rather than 10k gold?

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


May 12, 2012

Q. Hi Sir,
I want to know what is the right method to check iridium? What is the use of iridium for which it becomes costlier?

santosh pradhan
- Bhubaneswar, Odisha, India


May 14, 2012

A. Hi Santosh.

According to Jay, above, it is possible to cheat people and sell iridium for the same price as gold by mixing it into gold, because there isn't a real easy way to distinguish iridium content from gold content. But sophisticated instruments like x-ray fluorescence machines and atomic absorption spectrophotometry should easily distinguish real gold from iridium.

If I have misunderstood your question, it is probably because after many years of the rice pulling scam, and hundreds of postings about it, I prefer to read honest intent into the questions rather than to believe that people are so cruel & scummy as to want to participate in that scam, or so incorrigibly stupid as to insist on being scammed despite years of warnings.

But in the prophetic words of Mark Twain:

"It's easier to fool people than to convince them that they have been fooled" :-)

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


August 7, 2012

Q. Can you all please tell me the cost of the iridium for 1 gram and 1 inch

Rithik reddy
- Hyderabad,andhra pradesh,india


August 8, 2012

A. Hi Rithik.

The price of precious metals is very volatile, and you can easily get live prices for iridium and other precious metals instead of relying on out of date information. For example, see www.taxfreegold.co.uk/iridiumpricesusdollars.html for today's iridium price. Good luck.

Regards,

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Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


December 5, 2012

A. Dear Sir,
Iridium is used for higher end weapons. Iridium also a radioactive metal. In atmosphere 2% iridium is available. One ounce of iridium can power all of India for 365 days. It is the best propellant.
It can be used for artificial disasters. If you have any doubt check the Second World War German secret weapons: they had iridium-red, iridium-black, iridium-green and other powder form compounds. By the grace of almighty, Mr. Hitler did not use that against human beings.
Even handling of iridium raw materials causes urinary bladder cancer.
In our moon surface, iridium is so rich that is the first reason human beings are not ready to settle there, okay?
One kilogram iridium bomb is more dangerous than Japan's Hiroshima and Nagasaki destroyed by "Little boy".
Please do not play with green world, okay.

H Najjar
- India

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Ed. note: You said it, not me :-)



December 20, 2012

Q. Hi,
I found a tool (maybe a dental tool) about 6 inches in length. Each end of the tool has a "spikey" like design. On the main shaft of the instrument it is marked "1 iridium Italy 3". Does such a tool have any value?

David Hanson
- Oklahoma City, Oklahoma

December 21, 2012

A. Hi David. Unless someone from the trade that uses this instrument stumbles upon your posting I don't think you'll learn anything from such a generic stamping on it. There are many companies with "Iridium" in their name, many trade names based on "Iridium", and countless things made in Italy. It's not solid iridium, and I doubt that anyone would stamp "iridium" on an iridium plated item; and plating is usually too thin to add intrinsic metal value.

On the other hand, most "We buy gold" places can probably quickly determine if the item has any value -- although, sorry, I doubt it; my bet is it is stainless steel. Good luck.

Regards,

pic of Ted Mooney Teds signature
Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey


February 21, 2013

Q. Dear Sir,
Am a program producer in a TV channel in Kerala, India. Am doing a program against popular scams with as much scientific evidence as possible. Here in India people are born and brought up with extreme mythical conditions surrounding them. I am concerned about my fellow citizens and I want to direct them to reality. I proved many scams and now am going to do an episode about Rice Puller (R.P). I know it's fake. Am searching for scientific facts to prove it. Can you help me with some tips?

ANUJ
- Kottayam, Kerala, India


February 23, 2013

Q. Sir,
I would like to know what "rice pulling" means; what is real method to check iridium?

vishal pawar
- panjim,goa and india


February 24, 2013

A. Hi Vishal. Rice pulling is a scam whereby (through static electricity, magnetism, wind, sleight of hand, standard magician tricks, or whatever) a coin or chunk of metal is made to attract or seem to attract grains of rice; then a ridiculous story is built up around it, attributing miraculous historic powers to it. What then happens is that the people who want to SELL these coins for ludicrous amounts of money post fictitious internet messages claiming that they desperately want to BUY the coins (there are no buyers, it's all a fiction).

The victims then think that 1). the coins have miraculous power and
2). that they can easily re-sell them at a profit.
Neither is true, of course, and they lose their life's savings to the scummy scam artists.

Iridium is a fairly valuable precious metal; if pure, it is worth maybe half the price of gold. It is an element, so there are chemical and x-ray techniques for identifying it, just like all other metals.

Regards,

pic of Ted Mooney Teds signature
Ted Mooney, P.E. RET
finishing.com
Brick, New Jersey

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