May 25, 2010

USA, 1880: Platinum (Manufactured, Scrap & Ore)

1880: 1 Troy Oz. Platinum (Ural Spot? 83% Ore) = USD$ 3. (£ 0.63) 
1880: 1 Troy Oz. Platinum (Ural Spot? Ore, .999) = USD$ 3.68 (£ 0.7605) 
1880: 1 Troy Oz. Platinum (UK: Semi-Mfg; Bulk) = USD$ 7.74 (£ 1.60)  
1880: 1 Troy Oz. Platinum (UK: Semi-Mfg) = USD$ 8.23 (£ 1.70)  
1880: 1 Troy Oz. Platinum (UK: Semi-Mfg; Bulk) = USD$ 7.98 (£ 1.65) 
1880: 1 Troy Oz. Platinum (UK: Semi-Mfg) = USD$ 8.46 (£ 1.75)  
1880: 1 Troy Oz. Platinum (UK Semi-Mfg; to order) = USD$ 8.95 (£ 1.85) 
1880: 1 Troy Oz. Platinum (UK: Mfg, gauze) = USD$ 9.44 (£ 1.95) 





1879/80: 1 Troy Ounce Platinum (Scrap, Bid) = USD$ 5.
1879/80: 1 Troy Oz Pt (Labor Refining Cost) = USD$ 5.49
1879/80: 1 Troy Oz Platinum (Producer Cost) = USD$ 5.49

1879/80: 1 Troy Oz. Platinum (NYC: Semi-refined, Whols.) = USD$ 8.
 
1880: 1 Troy Oz. platina (USA: 77%- 89% ore, bulk) = USD$ 4.
1880: 1 Troy Oz. Pt (USA: CA ore, Intrinsic) = USD$ 4.68 - 5.19

1880: 1 Troy Oz. Pt (USA: CA ore, Intrinsic) = USD$ 5.17 - 5.68
 
1880: 1 Troy Oz. platina (Global: bulk ore, Est. .999) = USD$ 4.80 - 5.14
1880: 1 Troy Oz. Platinum (USA: Cost, Est. .999) = USD$ 5.29 - 5.63
 
1880: 1 Troy Oz. platina (NYC: ore, specimen, Ret.) = USD$ 9.87

1880: 1 Troy Oz. Platinum (NYC: Intrinsic, Mkt Low) = USD$ 5.49
c.1880: 1 Troy Oz. Platinum (NYC: Mfg, Whols.) = USD$ 7.97

1880: 1 Troy Oz. Pt/Ag Alloy? (USA: Wire, Trade) = USD$ 11.00
1880: 1 Troy Oz. Platinum (USA: Imported Mfg, Retail) = USD$ 14.40
 

The Lb. avd. price implied here is $66., the "low" of "$5.49" is presumably a NY Spot for ore at the intrinsic weight. The difference between Scrap and Intrinsic may also imply the average commercial refining cost per Ozt. 

1880: 1 Troy Oz. platina (NYC: Imported ore, 82.5%?) = USD$ 4.53
1880: 1 Troy Oz. Pt (NYC: Imported ore @ 99.9%) = USD$ 5.49

Citation: Report on mineral industries in the United States at the Eleventh Census, 1890 US Census Office (David Talbot Day) p. 341



c.1880: Famed industrialist J.C. Hoadley (brother-in-law of Herman Melville) built a successful portable steam engine in Lawrence MA (1857-78. ) He then traveled giving lectures around the USA, and wrote this paper on the Calorimeter in 1880, republished for some time thereafter. 

1879/80: 1 Troy Oz. Platinum (NYC: Scrap, Bid/Mkt) = USD$ 5.
1879/80: 1 Troy Oz. Platinum (NYC: Semi-Mfg, Whols.) = USD$ 8.

  

Citation: Transactions of the American Society of Mechanical Engineers, Vol. 2,  American Society of Mechanical Engineers (1881), p.46


Citation: Chemical news and journal of industrial science, Vol. 47-48 ; Sir William Crookes 1883 p.171



1884 article repeats the '1880 Manufactured Platinum Price.'



c. Summer, 1880: Imported Platinumware, sold retail.

1880: 1 Troy Oz. Platinum (USA: Imported Mfg, Retail) = USD$ 14.40

Citation: The American Monthly Microscopical Journal, Vol. 1 (1880) p.215

Famous specimen supplier.

1880: 1 Troy Oz. platina (NYC: Specimen Ore, Ret.) = USD$ 9.87

Citation: Catalogue of minerals & tables of the species, Albert E. Foote (1880) p.13

See also Jamieson's chart for wholesale platina in British Shillings (presumably, SPb prices):

1880: 1 Troy Oz. platina (UK, Trade) ~ USD$ 5.75

Citation: The Electrical Engineer, Vol. 15, No. 254, 3/15/1893 p.268


USA: Purported source price for domestic ores.

Citation: Mineral Resources of the United States, Part 1 p.731
 


Refined, imported Iridium employed in pens, etc.

c. 1880: 1 Troy Ounce Iridium (trade) = USD$ 75. - 100.




1880-4:
The stabilization of the US currency (par with Gold) coincided with the lowest retail/ catalogue price for Platinum manufactures in the post-Civil War period. 
According to prices in Meyer's Catalogue, manufactures were offered at advertised rates not witnessed since the mid-1850s. (Individuals may still have purchased those items at a greater discount through schools & universities.)


This Retail Low is especially peculiar as speculator attempts to corner the market caused a platina price spike (worrying dentists and industrialists) in 1879. Periodic declines, oversupply at port cities and discount events may also have occurred in some markets.

Otherwise, the general US retail Low appears to have occurred about 14 years after the Russian liquidation and 21 years decades after the absolute platina Low of 1861. 
Refined Platinum prices hovered at these rates for a couple of years.


August, 1880:  Dental Alloy in Wire

1880: 1 Troy Oz. Pt/Ag Alloy? (USA: Wire, Trade) = USD$ 11.
18801 Troy Oz. 60/40 Pt-Ag Alloy (UK: Wire, Trade) = USD$ 5.50
1880: 1 Troy Oz. 66/34 Ag-Pt Alloy (UK: Wire, Trade) = USD$ 3.64







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