On Platina.: USA, 1857: Chemists' Catalogues (Leuhme)

May 8, 2010

USA, 1857: Chemists' Catalogues (Leuhme)

Where Platinum manufactures were charged a duty of 30% in 1856

1856: 1 Troy Ounce Platinum (UK: Mfg, Bulk) ~ £ 1.50 (USD$ 7.30)
1856: 1 Troy Oz. Platinum (UK Mfg, Imported) ~USD$ 9.50
1857: 1 Troy Oz. Platinum (USA: Imported Mfg, Bulk Ret.) ~USD$ 19.0

c.1857: 1 Troy Ounce Gold (ore, at purity) = $ 16.67

c.1857: 1 Troy Oz. Platinum (manufactured, retail) = $ 18. - 20.

In September 1857, a Gold/Bank Panic appeared with the poor harvest and speculation, collapse of the Ohio Life Insurance & Trust, the sinking of the SS Central America ( ) and the suspension of specie payments (9/24-12/12/1857). Platinum prices may have risen, accordingly.

1857: 1 Troy Oz. Platinum (Refined, Trade) = $ 10.0 -12.0
1857: 1 Troy Oz.Platinum (Mfg, Trade) = $ 12. - 14.

1856: 1 Troy Oz. Platinum (Paris Mfg, Trade @ Fr 0.90/Gr) ~ $ 5.45
1856: 1 Troy Oz. Platinum (Imported Paris Mfg, 30% Duty) ~ $ 7.08
1857: 1 Troy Oz. Platinum (Imported Paris Mfg, Trade/Ret.) = $ 14.00

1857: 1 Troy Ounce Platinum (Mfg, Trade/Retail) = $ 24.00

Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents (1857 Luhme, p. 34)

Item #486: Spoons, $0.05 per grain

Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents; Luhme (1857), p. 58

Item #551: Paris Crucibles, $0.45/gm

Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents; Luhme (1857), p. 69

Item# 689: Spatulas $0.025 - 0.030 per grain

Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents; Luhme (1857), p. 80

Citation: Catalogue [of Philosophical Apparatus and Mathematical Instruments]. Mc Allister & Brother (1857) pp. 95; 86

Annual report of the Secretary of the Navy (1857) records a bill for the Pensacola FL Navy-Yard from "Brand & Adams" for 10 platina tips @ $2.50/ea. Presumably,

[F.B.] BRAND & [L.] ADAMS" "(Successors to Layton & Co.) Wholesale and Retail Dealers in Foreign and Domestic Hardware, Iron, Steel, Nails, Ship Chandlery, &c, No. 37 Magazine Street, opposite the Arcade." (in 1854)

Under the 1857 US Customs regulations, imported Platinum manufactures were assessed a 24% duty:

Detroit:

The price of refined Platinum fell from $10. to $8. per ounce troy, 1855-57; increased domestic production coincided with the global low for platina ore.

In the second half of the 19th century, the US wholesale low for refined Platinum likely occurred in 1861/2, before the USD$ "Greenback debasement."

1857: 1 Troy Ounce Platinum (manufactured, Retail) = $18. - 20.

1857: 1 Troy Ounce Platinum (Mfg, Ret.) = $14.40
1857: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = $14.40

1857: 1 Troy Oz. Silver-Platinum Alloy (70/30 Ag-Pt Whols./Ret.) = $8. - 10.

1857: 1 Troy Oz. Silver (Pure, Ret.) = $ 1.75
1857: 1 Troy Oz. Platinum (Pure, Ret.) ~ $ 22.60 - 29.25

1856: 1 Troy Ounce of platina (presumed: ore, imported) = $ 5.

c.1861: 1 Troy Ounce of Platinum (mfg., whols.) = $6.25

Citation: Commercial catalogs collection: Drugs and parmaceuticals, Higby & Stearns,Detroit, 1857, p.17;24

Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents (1856 Lehume Catalogue, P.104)

The price for manufactured Platinum in the USA (imported, including tariff, 1854-1857) sold retail according to a well-known chemistry textbook:

c.1857: 1 Troy Oz. Platinum (refined, mfg, retail) = $18. - 20. (~$19.)

c.1857: 1 Troy Oz. platina (ore) = ~$ 8. - 10.

Citation: Wells's principles and applications of chemistry: for the use of academies... ; David Ames Wells, NY, 1858. Page 395.

Citation: Executive Documents of the Senate of the United States 2nd Sess, 35th Cong. 1858-9 p.79
Table No. 6 for merchandise entered to the United States from June 1857 - June 1858 without tariff "Platina Unmanufactured" recorded a value of USD $37,581 for all Platinum sheet, wire, ore, etc. imported.

1851: