Although appreciable quantities were discovered in 1824, the richest platina placer in Perm, Russia was discovered in March, 1825 ; the massive yield began May-October of that year.
Caravans carried the ore to St. Petersbourg in the Fall/Winter, 1825/6. Ural caravans were slow; as an example of Winter voyages, hearsing the deceased Emperor's body from Taganrog (on the Azov) to St. Petersburg took 13 weeks. In St. Petersbourg, the local price of platina had fallen by one-third in early 1826 (with the arrival of the Late Summer/Autumn caravan.)
Earlier German reports (1819) of the Russian platina discovery were not believed in Europe. News reached Paris from von Humboldt's announcement in March, 1826 (a date wrongly assumed for the output, in many republications.) This was conclusively demonstrated with Russian Platinum samples sent abroad in July, 1826.
Caravans carried the ore to St. Petersbourg in the Fall/Winter, 1825/6. Ural caravans were slow; as an example of Winter voyages, hearsing the deceased Emperor's body from Taganrog (on the Azov) to St. Petersburg took 13 weeks. In St. Petersbourg, the local price of platina had fallen by one-third in early 1826 (with the arrival of the Late Summer/Autumn caravan.)
Earlier German reports (1819) of the Russian platina discovery were not believed in Europe. News reached Paris from von Humboldt's announcement in March, 1826 (a date wrongly assumed for the output, in many republications.) This was conclusively demonstrated with Russian Platinum samples sent abroad in July, 1826.
1825: In Russia, the processing of platina began 28 August 1825.
News of the massive yield preceded the actual platina caravan's arrival in Spb by some months.
1826: The platina price (?) fell by one-third in the Winter, 1825/6.
Reported 18 July 1826 in Paris; news in British Honduras by February 1827, and common-knowledge in the USA by the Autumn of 1827:
Citation: The American Journal of Science, Vol. 12 (June 1827) p.384
Where 1 Zolotnik = .137152 Troy Ounce, and where and the source price rose 63.74% in 1828,
1825: 1 Troy Ounce platina (ore @ Perm) = 4.3747 руб = (USD$ )
1828: 1 Troy Oz. platina (ore @ Perm) = 7.1632 руб = (USD$ )
The first customer was the [Russian] government. From the years 1825 to 1843, delivery of the whole platinum yield to the Crown was required. The price was 60 kopecks per Solotnik initially, or 302 Marks per kilogram, with an additional 10 to 12 percent in taxes deducted. Three years later [1828] the price rose to 494.5 Marks per kilogram and the end of Coinage Period (1843) to 623.2 Marks. Until the appearance Matthey, the price then dropped almost to zero.
According to Neumann (from an unknown source and with 1899 forex: 1M = 0.458 руб) the miners were paid 4.88 Kopecks per Zolotnik of platina, or 35.61 Kopecks per Ozt.
1819: 1 Troy Oz. platina (ore, Perm) = 0.3561 руб Silver? = 1.3526 руб
1825: 1 Troy Oz. platina (ore, Perm) = 0.4278- 0.784 руб Ag = 1.62 - 2.97 руб
1825: 1 Troy Oz. platina (ore, mkt) = 1.567 руб Ag = 5.94 руб
1825: 1 Troy Oz. platina (sold to SPb Mint) = 3.66 руб Ag = 13.87 руб
At London Silver Rates, the first price of Russian platina in 1819 was £ 0.0584 ; the leasees' 1825 base-price was £ 0.0683 - £ 0.1253 and they sold the metal for £ 0.2538 (about 5 Shillings) per Ozt.
In 1828, the Mint
Der Finder des ersten Platins in Rußland erhielt 25 ℳ. für das Kilogramm im Jahre 1819. Der erste Pächter in Nischny-Tagilsk bezahlte 1825 30—55 ℳ. und verkaufte das Rohmetall mit 110 ℳ. Die Regierung bezahlte etwa 302,5 ℳ. bei der Einlieferung des Platins zur Münze, jedoch wurden noch Abzüge von 10—15% gemacht.
The first discoverer of platinum in Russia received 25 ℳ. per kilogram in 1819. In 1825, the first tenant in Nizhny-Tagilsk paid 30-55 ℳ. and sold the raw metal for 110 ℳ. The government paid about 302.5 ℳ. on admission to the platinum coin, however, further deductions of 10-15% were still made.
Other sources report the Russian Government paid leasees ~60 Kopecks per Zolotnik of Platinum, consistent with Neumann's 302.5 ℳ./kg price.
Another estimation, from a much later republished source?
1825: Continental Europe/Eastern Seaboard USA: Global Platinum Price High
Although the actual Market Price for refined Platinum was in flux, the official or tariffed French Platinum Price also marks a high in 1825.
1826: 1 Troy Ounce Platinum (unspecified; presumed tariff) = Fr. 106.41 ($USD 20.)
On secondary markets beyond Paris and London, the price of refined imported Platinum soared. In Frankfurt-am-Main, and probably since 1825, Platinum in 1828 was sold at one-third the Price of Gold or "5x the Price of Silver." That German price was clearly unsustainable by the Late Summer of 1828, as news of massive yields (and smuggled ore) surely depressed prices.
The Colombian government started dumping platina in late 1827, and the Cartagena price plunged in September 1828.
In 1824, the Russian platina yield was between 50.34 - 64.42 kgs.
Citation: Die Metalle, Bernhard Neumann (1904) p.360
Russian weight:
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