USA, 1840s: Erratic Platinum Rise

The formal de-monetization of the Platinum Rouble (and the subsequent breakdown of  Russian mining operations) triggered global price fluctuations that lately effected US prices. As production ceased, supplies briefly became strained c. 1847,  indicated by higher US prices.  Most platina probably came via the Caribbean.

US tariffs on refined Platinum products encouraged fledgling US refiners.

(Subsequent editions repeat this data and the forex tables above it.)
1845:  1 Troy Ounce Platinum (Russian sponge/ingot @ Europe) ~ USD$ 4.
1846/7: 1 Troy Ounce Platinum (ingot, whols.)  = USD$ 7.50 - 8.33 
1846/7: 1 Troy Ounce Platinum (est. refined)  = USD$ 8.82 - 9.80


See Also:

c.1842: 1 Troy Ounce platina = USD$ 4. 
1848:  1 Troy Ounce of Platinum (refined, US whols.) = $ 10.0
1849: Troy Ounce of platina (ore, market) = $ 6.80 
1850: 1 Troy Ounce platina (ore, domestic )  = USD$ 6.10 

Citation: Manual of mineralogy: including observations on mines, rocks, reduction of ... By James Dwight Dana (1850) p.387

The allusion to high Platinum prices suggests that the US price was trending higher, regardless of other markets and because of battery & telegraph industrial demand.

1847:

1846: The Tariff of 1846 was 30% on manufactured Platinum goods


c.1845: Dr. Hare was working platina in Pennsylvania


Cost of Refining Gold, Silver:




c. 1845/6: Platinum Coin as Counterfeit Gold

Citation: Adulterations of Various Substances Used in Medicine and the Arts (1846)


1844/5: Rouble Rate, in Silver