April 28, 2010

Russia, 1919-21: Platinum & Russia



Where the Russian refining cost is indicated at 28.4 руб (USD$ 1.42) per troy ounce:
 
1919: 1 Troy Ounce platina (wholesale) = 947 руб (USD$ 47.35) 
1919: 1 Troy Ounce Platinum (refined) = 1,212 руб (USD$ 60.61)




US spot prices in subsequent years were: $114.61 in 1919, $110.90 in 1920, and $75.03 in 1921 (12/21: $85.)   

In the USA, the Great Commodity Crash witnessed a 42.9% drop in wholesale prices (May, 1920- July 1921.)


From the following articles, if we may assume May 1920 @  and July 1921 @ $58./oz.


Citation: Journal of the Franklin Institute, Volume 189,  By Franklin Institute (Philadelphia, Pa.), 1920, p.246

Citation: Mining and scientific press, Volume 124 (January 1922), p.54



1921: 1 Troy Ounce platina (ore) = 1,212 руб (USD$ 60.61)






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