The average American upgrades their cellphone approximately once every year. The demand for new smartphones creates an exciting technological market, but it is unfortunately unsustainable. Rare earth metals are in such high demand that the cellphone industry competes in the market for them with industries such as alternative energy: solar energy, wind turbines, and electric cars. Since most people are unaware of the value of their old cellphones, we decided to share some information. We hope to reintroduce importance to the 500 million phones discarded and forgotten in storage. Here are some of the elements found in an average iPhone:
1. Gold: Each iPhone has approximately .03g of gold. According to Money Metals, gold is currently worth approximately $1,324 per ounce. Gold is used in smartphones because the metal is very conductive and it doesn't oxidize easily.
2. Platinum: Each iPhone has approximately less than .001g of platinum. According to Money Metals, platinum is currently worth roughly $973 per ounce. Platinum is used in the circuitry of the cellphone and is a very critical industry metal for its uses as a capacitor.
3. Palladium: Each iPhone has approximately .02g of palladium. According to Money Metals, palladium is currently worth roughly $992 per ounce. Palladium has many uses as it is commonly used as a catalytic converter and a capacitor.
4. Silver: Each iPhone has approximately .34g of silver. According to Money Metals, silver is currently worth about $17 per ounce. Because of its durability and excellent conduction, silver is irreplaceable in the electronic industry for circuitry.
These are only four recognizable precious elements; there are many more metals with significant value to the electronics industry. These rare materials are locked up in old discarded cellphones and shelves of newly released devices. The approximate 500 million devices currently in American households has (in gold alone) the value of 800 million dollars. This estimate doesn't even include the value of the platinum, palladium, silver or countless other precious elements.
In conclusion, we just hope our customers and friends remember the importance of repairing and recycling. Recycling is socially ,financially and ecologically responsible in so many ways. If its time for a change, make a socially conscious choice and buy a Certified Pre Owned device with the RepairXperts. Plant a tree and take a stance against e-waste today!