May 5, 2010

US/UK, 1808: Fredrick Accum's Platina Sales to Harvard University

Wollaston assumed Johnson purchased 1 Libra for S$ 6. silver; at 1807 forex on New Dollars:

1808: 1 Troy Ounce platina (Importer's Cost, 76.3% ore)  = £ 0.0886 - 0.1063
1808: 1 Ozt. Pt (Importer's Cost, .999)  = £ 0.1162 - 0.1394
1808: 1 Ozt. Pt (Wollaston's Labor, Per Ozt)  = £ 0.10
1808: 1 Ozt. Platinum (Lowest Cost Basis, .999)  = £ 0.2162 - 0.2394

1808: 1 Ozt. platina (Wollaston's Cost, Assumed~74.25% ore)  = £ 0.1360
1808: 1 Ozt. Pt (Wollaston's Cost, .999)  = £ 0.1829
1808: 1 Ozt. Pt (Wollaston's Labor, Per Ozt)  = £ 0.10
1808: 1 Ozt. Platinum (Wollaston's Lowest Cost Basis, .999)  = £ 0.2829

1808: 1 Ozt. Platinum (Wollaston's Platinum, Retail ~.970)  = £ 0.75
1808: 1 Ozt. Platinum (Wollaston's Platinum, Whols. ~.970)  = £ 0.6750
  

Wollaston's assumed cost-basis was probably £ 0.30.

Fine Silver assumed at an intrinsic value of £ 0.2881 - 0.2977, the cost basis for refined Platinum (5s. 8d) was only slightly lower than the Market Value of Fine Silver (~6s.)


John Johnson began selling platina to Dr. Wollaston in 1806.  

Where Johnson's price January Price for 98 Ozt total @wholesale, the Libra (=460 Grams) value was £ 1.1093 (S$ 4.1274)

Where Johnson's price September Price for 400 Ozt total @wholesale, the Libra (=460 Grams) value was £ 1.9104 (S$ 7.1083


Where Johnson's price Octber Price for 1,000 Ozt total @wholesale, the Libra (=460 Grams) value was £ 2.10 (S$ 7.796)  


January 1808: 1 Ozt. platina (Johnson's ore, UK whols.)  = £ 0.075
Jan. 1808: 1 Ozt platina (UK: .999 50% ore)  = £ 0.15
 
Sept. 1808: 1 Ozt. platina (Johnson's ore, UK whols.)  = £ 0.1292
Sept. 1808: 1 Ozt. platina (UK: 75% ore at purity)  = £ 0.1722

the wholesale platina rate to UK consumers, after all costs.


1808: 1 Ozt. platina (Johnson's ore, UK whols.)  = £ 0.1391 (Fr 3.08) 
1808: 1 Ozt. Platinum (76% at purity)  = £ 0.1831 (Fr 4.057)
1808: 1 Ozt. Platinum (Producer Cost)  = £ 0.331 (Fr 7.38) 
1808: 1 Ozt. Platinum (Producer Price)  = £ 0.750 (Fr 16.63)
 
Error: 
Accum's very cheap price appears to have been half Wollaston's platinum @retail. Accum's item may have been sold at cost to students, half normal markup? Or "9" shillings?

1808: 1 Ozt. Platinum (semi-mfg, cost?)  = £ 0.4389 (Fr 8.864)
1808: 1 Ozt. Platinum (semi-mfg, retail)  ~ £ 0.8777 (Fr 19.45)

1812: 1 Ozt. Platinum (Semi-Mfg, retail)  = £ 1.00 (~Fr 19.)

"In 1808 Fredrick Accum sold some platinum to Professor William Peck of Harvard
University for about $.07 cents a gram ('1/2 oz. pure platina in slips 4 shillings.')"

Citation: Discovery of the Elements,  Mary Elvira Weeks, 1968, p. 398

1800: 1 Ozt. platina (Wollaston's Import Price)  = £ 0.13  (USD$ 0.61)
1805: 1 Ozt. platina (Wollaston NB, Wholsale)  = £ 0.25  (USD$ 1.09)
1808: 1 Ozt. platina (Wollaston NB, Whols.)  = £ 0.11 (USD$ 0.51)
1805-15: 1 Ozt. platina (Wollaston's Total Cost)  = £ 0.18  (USD$ 0.61)
1805-15: 1 Ozt. Platinum (Wollaston's Refined, Whols.)  ~ £ 0.38 (USD$ 1.70)
1805: 1 Ozt. Platinum (Carey's refined, Retail)  = £ 0.75 - 0.90 (USD$ 3.26 - 3.92)

1808: 1 Ozt. Platinum (Semi-Ref., Cost)  = £ 0.44 (USD$ 2.)
1808: 1 Ozt. Iridium ore (Accum's Retail)  = £ 1.20 (USD$ 5.56)

1808: 1 Ozt. Palladium (Trade, King &Lochee) = £ 4.7357 (USD$ )
1808: 1 Ozt. Palladium (.999) = £ 5.30 (USD$ ) 

Citation: "William Wollaston, John Johnson and Colombian alluvial platina: A study inrestricted industrial enterprise" Melvyn C. Usselman in Annals of Science, 37:3, (1980) pp. 253-268

1808: 1 Ozt. Platinum (Semi-Mfg, Whols.)  = £ 0.70 ( ; USD$ ; Fr.15.14)

"in November 1808, Johnson purchased 25.5 ounces of malleable platinum ingots from Wollaston at 14 shillings per ounce presumably for the fabrication of platinum crucibles"

c.1808:




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