Platinum was 233x the Price of Silver in January, but down to 123.4x the Price of Silver in December.
January, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 155.
February, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
March, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
April, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
May, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
June, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
July, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 80.
August, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 120.
September, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
October, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
November, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
December, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 75.
The Price of Silver in January was $0.664; in July $0.5851; in December,
John Story Jenks Collection Sale, mid-December 1921 shows the numismatic premium at very high Platinum prices was only ~26.5%.
An 1831 "Proof" 12-Rouble coin sold for $150.; where a full-weight 12-Rouble was 1.3292 ozt. (638 Grains Troy)
December, 1921: 1 Troy Oz. Platinum (Numismatic: 12-руб) = USD$ 112.85
December, 1921: 1 Troy Oz. Platinum (Numismatic: 6-руб) = USD$ 133.73
December, 1921: 1 Troy Oz. Platinum (Numismatic: 3-руб) = USD$ 87.15
Citation: The Numismatist, Vol. 35 (1922) p.226
Following the parabolic price rise of Platinum in WW1, the US refined market collapsed from the beginning of 1920 through the summer of 1921.
With Russian platinum embargoed, supplies dwindled; the US govt's strategic stockpile was released, @ $ 85./oz. in 1919. Demand remained strong; then a speculative frenzy drove the spot price 60% higher in the next few months. That Peak & Crash were epic, perhaps a record.
January 26, 1920: NY Spot Price = $160./oz
August 1, 1921: NY Spot Price = $ 65./oz
January, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 155.
February, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
March, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
April, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
May, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
June, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
July, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 80.
August, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 120.
September, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
October, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
November, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
December, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 75.
The Price of Silver in January was $0.664; in July $0.5851; in December,
John Story Jenks Collection Sale, mid-December 1921 shows the numismatic premium at very high Platinum prices was only ~26.5%.
An 1831 "Proof" 12-Rouble coin sold for $150.; where a full-weight 12-Rouble was 1.3292 ozt. (638 Grains Troy)
December, 1921: 1 Troy Oz. Platinum (Numismatic: 12-руб) = USD$ 112.85
December, 1921: 1 Troy Oz. Platinum (Numismatic: 6-руб) = USD$ 133.73
December, 1921: 1 Troy Oz. Platinum (Numismatic: 3-руб) = USD$ 87.15
Citation: The Numismatist, Vol. 35 (1922) p.226
Following the parabolic price rise of Platinum in WW1, the US refined market collapsed from the beginning of 1920 through the summer of 1921.
With Russian platinum embargoed, supplies dwindled; the US govt's strategic stockpile was released, @ $ 85./oz. in 1919. Demand remained strong; then a speculative frenzy drove the spot price 60% higher in the next few months. That Peak & Crash were epic, perhaps a record.
January 26, 1920: NY Spot Price = $160./oz
August 1, 1921: NY Spot Price = $ 65./oz
Contemporary US government summaries do not convey the extent of the Platinum Price Collapse: see the 1919-1920 Metal Price Chart.
In 1920, the Spot Price of Platinum fell from $160. to ~ $83.50 by year end, or -47.8%. The price fell further in July/August, a low of $58. is mentioned. That's a total decline of -63.75% from the Peak within 20 months. Between 1920 and 1921, the Canadian Platinum Producer Price likewise dropped -58.6% ($ 67.63 > $ 27.97) .
In 1920, the Spot Price of Platinum fell from $160. to ~ $83.50 by year end, or -47.8%. The price fell further in July/August, a low of $58. is mentioned. That's a total decline of -63.75% from the Peak within 20 months. Between 1920 and 1921, the Canadian Platinum Producer Price likewise dropped -58.6% ($ 67.63 > $ 27.97) .
Citation: Metal industry, Vol.19 (1921), p.56
A time of secrecy & smuggling (again)?
A time of secrecy & smuggling (again)?
Citation: The Mining magazine, Vol. 23 (1920), p.116.
Gauges of Wire, Foil, etc.
Pure Platinum Foil (Light, 0.03 mm): 1 Sq. In. = 5.45 Grains
Pure Platinum Foil (Medium, 0.04 mm): 1 Sq. In. = 8.18 Grains
Pure Platinum Foil (Heavy, 0.05 mm): 1 Sq. In. = 10.88 Grains
Pure Platinum Wire (Heavy?, 2.02 mm): 12 In. = 328.25 Grains
In the last 30 years of the 19th C., Platinum rose 367%; Pt peaked 50 years after 1870.
At the same time, Silver and fell -53.4% on London.
At the same time, Silver and fell -53.4% on London.
1899-1921:
Citation: Engineering and Mining Journal, Vol. 112 American Institute of Mining Engineers (1921) p.478
Citation: Engineering and Mining Journal, Vol. 112 American Institute of Mining Engineers (1921) p.478
Adjusting for Real Inflation since 1920 (5,206%) we can extrapolate the "1920 Peak" spot price for Platinum (refined ingot, 89% pure) to be $ 8,490. (in 2009 USD$.)
Adjusting for Real Inflation since 1921 (5,238%) the lowest 1921 Platinum Spot Price would be $ 3,469. (in 2009 USD$.)
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