Anyone done it? I found this information and was curious. I currently use stainless steel like most folks, but this is interesting, especially the part about stainless being toxic:
"The steel or iron used as the anode is sacrificed in electrolysis, as the anode rusts (oxidizes) and the cathode de-rusts (reduces). Many people try stainless steel, brass, and aluminum as their anodes, due to the familiar corrosion-resistant properties of those materials. Unfortunately, stainless steel releases toxic materials as it decays, brass deposits copper onto the cathode (which accelerates rusting of steel), and aluminum quickly deteriorates.
However, there is a conductive material that can be successfully utilized as an almost non-sacrificial anode in electrolysis: graphite. Graphite is an electrically conductive form of solid carbon. You probably recognize graphite as the material in the center of a pencil.
Fine-grained graphite rods and plates can be obtained from McMaster-Carr or other distributors. Scrap and worn pieces can be purchased from eBay. I bought a box that had been used for electrical discharge machining (EDM)."