USA, 1909: Central Scientific Co. Catalog; Rarity of Platinum Rouble Still Misunderstood

The numismatic premium for the spurious Doubloon was ~206% over Market but only ~130% over the retail price of Platinum.  (The Price of Platinum did not reach >$68 until November 1915, but it remained above that level until the 1930s.)

July 1909: 1 Troy Ounce Platinum (Scrap, Bid) = $ 19.
July 1909: 1 Troy Oz. Platinum (Mkt) = $ 22.43
July 1909: 1 Troy Oz. Platinum (Semi-Mfg, Retail) ~> $ 29.86

July 1909: 1 Troy Oz. Platinum (Numismatic) = USD$ 68.57

In 1801-05, contemporary counterfeiters had no access to "platinum of the purest quality" and gilding by electroplate was not possible until the 1840s. The 1801 Counterfeit Doubloon isn't reported to have any Gold-value; a pure Platinum specimen would probably have been produced some time after 1855, perhaps in the 1880s. 

A full-weight 1801 CAROLUS IV '8 ESCUDO' (presumably from Popayan) should have weighed 27.07 Grams. The counterfeit weighed 27.2155 Grams, overweight.

The English Mint evaluated many of 'new' Doubloons (.869 Fine Au) were ~1 Grain light, 26.99 Grams (416.5 Grains Troy) = 361.94 Grains Fine Au and from circulation 25.61 Grams (395.2 Grains) = 343.43 Grains Fine Au

July 1909:


1801 contemporary counterfeit 2 escudos. Madrid Mint. FMassayer. Platinum. Extremely Fine. 22.2 mm. 0.9 mm thick. 6.65grams.

1801 contemporary counterfeit 2 escudos. Madrid Mint. FMassayer. Platinum gilt. Extremely Fine. 22.2 mm. 1.0 mm thick. 6.65 grams.





NYC Spot: Monthly 1909


March-April 1909: 1 Troy Oz. Platinum (Spot Mkt) = $23.75 - 24.

1909: 1 Troy Oz. Platinum (semi-mfg, whols.) = $ 31.10

1909: 1 Troy Oz. Platinum (mfg, whols.) = $ 34.21

1909: 1 Troy Oz. Platinum (mfg, whols.) = $ 37.32

1909: 1 Troy Oz. Platinum (mfg, whols.) = $ 54.43

Citation: Central Scientific Co. Catalog M Chicago IL (May 1909) p. 321

1909:

1909:

1909: 1 Troy Ounce of Osmium (US, refined, whols.) = $ 35.
1909: 1 Troy Ounce of Palladium (US, refined? whols.) = $ 27.88
1909: 1 Troy Ounce of Rhodium (US, refined, whols.) = $ 155.


1909, 1910:

Note on Platinum Roubles:

Platinum prices remained high, behavioral inquiries sought to rationalize or exploit imaginary sources for the rare metal. In fact, the scarcity of Platinum Roubles was known to numismatists back in the 1850s. Despite obvious rarity on the coin collector market for decades, metal specialists in 1909 could not fathom 'where all that money went: in fact, the 1844 recall had been successful, or many coins had disappeared earlier into foreign smelters during the monopoly.

With the realization the Russian Platinum stockpiles were long gone, a desperation of Western industrialist became palpable and self-evident in 1909. In the following decade (when the US Gold Price was stable) Platinum rose 700%. By 1920, descriptions of paranoia & distrust will apply directly to US refiners, trafficking in all sorts of stolen Platinum 'scrap' and embargoed ore.

Perhaps as many as 25% of existing Platinum Roubles are counterfeit, later souvenir issues, or pure Pt fakes. Selling in 2005 at $75k - 100k each, it's not hard to see why.