I'm not sure that the statement "quality 18650s have a better track record than CR123 primary cells for safety. " is particularly accurate.
I believe that the statement is accurate. I stand by it. With one clarification. *protected*
Lets consider for a moment, quality lithium manganese dioxide primary cells in the "large" common formats (CR2, CR123A, CRV3 etc) vs quality lithium cobalt rechargeable cells in common sizing (16340-18650 sizes).
123 primary cells have been in use for a LONG time, so of course there have been reported occurrences of the occasional failure.
From what I can gather, both CR123A and similar cell types, as well as lithium cobalt, have been on the market for about 20 years give or take a couple few.
Just because there may be fewer reports of 18650 cells failing doesn't make them safer.
Polling threads in recent years here at CPF have shown that the use of various li-ion cells has surpassed the use of primary CR123s.
references:
http://www.candlepowerforums.com/vb/showthread.php?t=265458&highlight=poll+battery+type
http://www.candlepowerforums.com/vb/showthread.php?t=236147&highlight=poll+battery+type
http://www.candlepowerforums.com/vb/showthread.php?t=218370&highlight=poll+battery+type
With that in mind, if we have more reports of CR123s exploding than various lithium cobalt cells, then we can very reasonably conclude that they are more dangerous given the distribution of cell types amongst the CPF community.
Perhaps more interesting, is that, CPF and Camera enthusiasts will represent the heaviest users of lithium primary cells on the planet, if you take the polling outside of a CPF like environment, most people have never even purchased a CR123 cell, but own multiple devices in their homes with li-ion cells. The prevalence of protected lithium cobalt in the average consumer market far outweighs that of primary lithium cells.
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I would highly recommend spending some time looking through some of the reports here:
http://www.candlepowerforums.com/vb/forumdisplay.php?f=107
What we find, is that, most of the CR123A explosions are Chinese cells, with a handful of USA/Japan made cells exploding as well. In most cases of CR123 explosion, there is absolutely no user error, they were just using a flashlight as they would expect to be able to and all of the sudden BAM. We also find plenty of lithium cobalt fires/explosions/venting/heating stories as well, but there is a very common trend. More often than not, the li-ion stories can be tracked down to a blatant or semi-blatant user error. Many of the li-ion explosions seem to be linked to unprotected cells exposed to shorts or over-charge conditions, or physically damaged cells.
Eric