UK, 1830-1: The First Global Price Collapse of Platinum, 1830-1

At St. Petersburg, the price of platina collapsed in 1825.  Coincident with a capital markets crash in London, the European price of Platinum soon followed.  The poorly-conceived, abortive Russian monopoly failed before it began.  A number of factors contributed to the global price collapse 1825-31, not the least appears to have been shoddy quality Russian ingots.  In Paris, Russian platina ingot (~75% pure) price fell ~ -50%.
 
1825:


In the late 1820's refined & manufactured British Platinum was still considered exceeding expensive, perhaps by contrast to the falling global ore price and the falling price of Paris-refined metal in 1828/9.

c.1825:


1830: the platina price likely fell in SPb after the 2nd caravan of 1829 arrived.  News would reach London by June/July.

Citation: Annales des voyages, de la géographie, de l'histoire et de l'archéologie... (1830) p.112


By the summer of 1830, the price of platina at St. Petersburg had fallen so dramatically that contemporary observers noted the Government removed (and withheld) the platinum coinage from circulation in European Russia.   

Circa 1830:
Citation: Waldie's select circulating library, Volume 2, Adam Waldie (1832), p232

Briefly, the global price of Platinum seemed to collapse as well.  In Great Britain,  the price of Platinum declined almost 50%  in two years, by 1831.  As reported by nonspecialists, however, this event may have been poorly understood or confused, as  prices for many other manufactured metals had fallen 50-85% since 1812.  

Depressed British refined prices was coincident with a large & sudden importation of Colombian ore.  Prices of Platinum manufactures declined less dramatically (if at all) but encouraged British sales to foreign markets, such as the USA. 
 
c.1829: 1 Troy Ounce Platinum (malleable) = £ 1.25 (USD$ 6.08)

1831: 1 Troy Ounce Platinum (hypothetical UK coin rate)  = £ 1.0  (USD$ 4.86)
1831: 1 Troy Ounce Pt Coined (intrinsic; Imperiale)  = £ 0.7806  (USD$ 3.79)

c.1831: 1 Troy Oz. Platinum (85% ingot, mkt)  ~ £ 0.75  (USD$ 3.65)
c.1831: 1 Troy Oz. Platinum (pure)  ~ £ 0.88  (USD$ 4.29)

Citation: The Gentleman's magazine, Volume 102, Part 1 (June, 1832), p.486

Refined Iridium was more than 10x the price of the ore.

1833?: 1 Troy Oz. Iridium (refined)  = £ 36. (USD$ 174.60)

1833?: 1 Troy Oz. Iridosmine (ore)  = £ 2.40 (USD$ 11.57) 

c.1831?: Edward Davy purchased a purportedly medical business which turned out to be an operative chemist's. His first Catalogue dates to the very early 1830s; by 1835

1831: 1 Ozt. platina (Ore, Whols./Ret.)  = £ 0.90 ($ 4.26) 
1831: 1 Ozt. Platinum (Sponge, Whols./Ret.)  = £ 1.50 ($ 7.10)
1831: 1 Ozt. Platinum (Foil, Semi-Mfg, Whols./Ret.)  = £ 1.60 ($ 7.57)
1831: 1 Ozt. Platinum (Mfg, Whols./Ret.)  = £ 1.70 - 1.80 ($ 8.04 - 8.52)


Citation: Chemical apparatus, tests, and preparations, employed in philosophical and medical chemistry, mineralogy, &c. Manufactured with every care, and sold at moderate prices,  E. Davy, Chemist, 390, Strand, London (1830?)





1836:

Citation: An Experimental Guide to Chemistry; Edward Davy (1836)

Unknown. Hodgett's notes, sometime after 1826 but prior to 1834. 

c.1830?
Citation: The Chemical Catechism: Rev. and Adapted to the Present ... Samuel Parkes (1834)


Adjusting for Real Inflation since 1830 (9,926%) we can extrapolate the London price for refined, ingot Platinum to be $ 365. (in 2009 USD$.)