1902: 1 Troy Ounce Palladium (alloy) Fr 38.88 (USD$ 7.60)
June 30, 2010
France, 1835: Difficult Period for Platinum Valuation
Nov. 1835: 1 Troy Oz. Platinum (Dental Alloy?, Trade) = Fr 26.43 (USD$ 5.05)
Apparently, sons of the Royal Surgeon-Dentist Antoine-Malagou Desirabode were selling dental Platinum to the trade, c. 1835
Citation: Allgemeine Zeitung München (11/20/1835)
The Platinum price was in flux, with widely varying quotations & estimations. Conrad Malte-Brun was citing Fr 24.57 (for Russian aggregate production) as late as 1835, a time when others noted the Russian ingot price collapse. It appears the Russian ingot price collapsed -50% at some point between 1824 - 1825 (Fr 30.48 > Fr 15.25 - 16.25) on the French market; it's likely this was in 1825.
Some sources also appear to have republished old data indescriminately.
The coin value of the Platinum Rouble greatly exceeded the Paper Rouble-Franc parity (1:1) or the estimated Silver Rouble Rate (3:1), by 30%.
c.1830: 1 Troy Oz. Platinum (Platinum Rouble, coined) = Fr 36.06 (USD$ 6.90)
Citation: Abrégé de géographie, By Adriano Balbi (1833), p.1318
c. 1833/4?: 1 Troy Ounce Platinum = Fr 24. ($ 4.49) --- Suspect republishing ---
Citation: Nouveaux éléments d'histoire naturelle: contenant la zoologie, la botanique ... By Antoine-Paulin-Germain Salacroux (1835) p.893
1835: 1 Troy Ounce Platinum = Fr 31.10 ($ 5.94)
1831: Tariffed Rate for 4 year Holding Period = Fr 93.43
Citation: Journal des conseillers municipaux, des conseillers d ..., Vol. 2 (1835) p.95
Citation: Revue mensuelle d'économie politique, Vol. 4-5; Edit. by Théodore Fix (1835) p.441
c. 1836: 1 Troy Ounce platina = Fr 7.47 - 12.94 ($ 1.43 - 2.47)
c. 1836: 1 Troy Ounce Platinum = Fr 29.55 - 31.10 ($ 5.65 - 5.94)
Citation: Dictionnaire de la conversation et de la lecture: Pic - Por, Volume 44 (1838) p. 229
Lightning-Rod tip: Fr. 18. - 20. ($ 3.45 - 3.83)
c. 1834/5:
1835 : French imports of platina =
Citation: Dictionnaire pittorosque d'histoire naturelle et des phénomènes de la nature ... Félix-Edouard Guérin-Méneville (1837) p.227
1836: 1 Troy Ounce Platinum = Fr 31.10 ($ 5.94)
Circa 1835? 10-Gallon Platinum alembic cost £ 1,000. (~Fr 25,000.)
Where the Gros (4 Grammes) was 61.73 English Troy Grains, or ~1/10th an English Troy Ounce:
c. Apr. 1836: 1 Ozt. Iridium (SPb: Mint) = 43.7487 руб Acc. ($ 9.5236; )
As reported from St. Petersburg 4/20/1836:
"Sent to Paris, Iridium excited admiration in French scholars and artists, and in Paris they initially paid the high price per drachma of Iridium Fr 60; but even more so the rarity of Iridium was until now solely to blame that this useful metal to find few applications. The Imperial Finance Minister, Count Cancrin, has now enacted to bring the accumulated stocks of laboratory Iridium and all unrefined residues obtained during the cleaning of Platinum to market at reasonable prices. Consequently, refined Iridium is to be sold at 6 rubles ($1.31) per Zolotnik, the unrefined residues at just 1 Rubel Bco. Ass. here. those who want to buy these items must appeal to the Supreme Sobolewskij"
Citation: Gemeinnützige Blätter. (5/5/1836) p.292
c.1835:
By estimation of the Russian Rouble metal ratios, coined Platinum was simply 3x the Silver Rouble value in Francs; ergo, 3-Roubles (Pt) = 12 Fr.
The French market price for refined Platinum was considerably lower than the Rouble rate, suggesting at least the lucrative potential for counterfeit coinage (however unlikely, given supply constraints.) The official, intrinsic monetized rate (10.36g at .950, 3-Rouble Coin) per Troy Ounce is determined accordingly.
c.1840: 1 Troy Ounce Platinum (semi-mfg, mkt) = Fr 28.44 (USD$ 5.50)
1840: 1 Troy Oz. Platinum Estimation (intrinsic Coin Rouble) = Fr 37.92 (USD$ )
Although the UK market price was lower, the UK retail price for Pt was the same as this foreign exchange valuation.
1840: 1 Troy Oz. Platinum Estimation (intrinsic Coin Rouble) = £ 1.50 (USD$ 7.50)
1835 Importation:
Citation: Dictionnaire universel des poids et mesures anciens et modernes...Horace DOURSTHER (1841) p.306
1835 Importation:
Citation: Dictionnaire universel des poids et mesures anciens et modernes...Horace DOURSTHER (1841) p.306
Dubious valuation, c. 1835?
Colombia/France, 1815: Paris Price of Choco Platina
c. 1815?: 1 Troy Ounce platina @ Paris = Fr 4.- 5. (USD$ 0.71 - 0.88)
Citation: Nouveau dictionnaire d'histoire naturelle, appliquée aux arts, à ..., Vol. 26 By Jacques Eustache de Sève (1818) p.583
1815: 1 Troy Oz. Platinum (sponge) = Fr 15.24 (£ 0.7126)
1815: 1 Troy Oz. Platinum (sheet) = Fr 18.29 (£ 0.8552)
The source price of platina plunged as the Spanish Crown's authority in Cartagena & Choco waned, c. 1815-19:
Citation: Mémoires du général Morillo, comte de Carthagène, marquis de la Puerta ... Pablo Morillo (conde de Cartagena), José Domingo Díaz, (1826)
Generic, dubious & republished! c.1789 and unknown other high years
June 11, 2010
France, Russian, 1827 - 1844: 'Platinum Rouble' Rate
The
Platinum coinage in Russia provided a coherent valuation, even if it
quickly proved overvalued and likely destabilized the open market for a
time.
The cause for the depreciation of Platinum Mony comes first from the depreciation of the metal itself, and its standard of monetary use, but also that, from the outset, it was taxed on a basis that was entirely wrong and too high.
Citation: Esprit de l'économie politique; Ivan Golovin (1843) p.225
The cause for the depreciation of Platinum Mony comes first from the depreciation of the metal itself, and its standard of monetary use, but also that, from the outset, it was taxed on a basis that was entirely wrong and too high.
Citation: Esprit de l'économie politique; Ivan Golovin (1843) p.225
c.1843/4: 1 Troy Oz. Platinum (refined, unmfg) Fr 31.10 (USD$ 5.88)
Citation: Encyclopédie technologique: Dictionnaire des arts et manufactures ..., Volume 2, ByCharles Pierre Lefebvre de Laboulaye (1847) p.2994
1827 -44: 1 Troy Oz. Platinum (coined Rouble) Fr . 36.06 (USD$ 6.60 - 7.05)
Dutch:
June 10, 2010
France, 1869: Producer's Wholesale Price
1869: 1 Troy Ounce Platinum (Paris Mfg, Bulk) = Fr 23.33 (USD$ 4.60)
Citation: Le Moniteur scientifique du Doctor Quesneville: Journal ..., Vol. 39-40 G. A. Quesneville, p.664
c.1869: 1 Troy Oz. Platinum (Paris: Mkt, Retail) ~ Fr 31.103 (USD$ 6.13)
Citation: Les pierres précieuses et les principaux ornements; Jean Pierre Rambosson (1870) p.213
The Price of Ingot Platinum was falling in the late 1860s, undercut in part by the Russians selling directly to the global market.
Citation: Le Moniteur scientifique du Doctor Quesneville: Journal ..., Vol. 39-40 G. A. Quesneville, p.664
c.1869: 1 Troy Oz. Platinum (Paris: Mkt, Retail) ~ Fr 31.103 (USD$ 6.13)
Citation: Les pierres précieuses et les principaux ornements; Jean Pierre Rambosson (1870) p.213
The Price of Ingot Platinum was falling in the late 1860s, undercut in part by the Russians selling directly to the global market.
1865: 1 Troy Ounce Platinum (manufactured) Fr 32.66 (USD$ 6.35)
French Dental Platinum alloy (10% - 12.5% Pt) suggested as source for metal in counterfeit Gold coins.
Where the Specific Gravity of 18k Gold is assumed 14.91 - 15.5, the Alloy must be Pt 69%, 19% Cu, 12% Sn then gilt with pure Gold (12% the total weight) = Specific Gravity of 14.91
Citation: Catalogue of the Collection of Metallurgical Specimens Formed by the Late John Percy, Now in the South Kensington Museum (1892) p.232
Platinized mirrors:
Platinum Still (917.84 Ozt Platinum) cost Fr. 50,000. (delivered?)
1869: 1 Troy Oz. Platinum (Mfg, Bulk) Fr 54.47 (USD$ )
June 9, 2010
Colombia/UK 1800 - 1815: Platina Prices
Contemporary European and American estimations of platina 'spot-prices' appeared inflated. In calculation, the known annual average London Price for Spanish Dollars is the multiplier. The following table suggests a corrected range of prices paid by London merchants for average-quality platina ore in Cartagena 1800-1817.
1803: 1 Troy Ounce platina (Cartagena, illicit export) = S$ 0.406
In the mid-1820s, the Price of Gold Dust from Colombia was cited 25% higher in Jamaica. Given trade-risk for contraband, brides, etc., the Jamaican merchants' rate will be ~25% higher, at a minimum. (The unknown Jamaica rate for Spanish Coin is unknown; the London rate substitutes.) The following table suggest a range of prices paid by merchants for average-quality platina ore in Jamaica 1800-1817.
1801: 1 Troy Ounce platina (Specimen Price) = S$ 0.584
In 1805, where the Colombian price may be estimated @ 7 piastres [$1.08*$7.] per Colombian “pound”:
1805: 1 Troy Oz. platina (Cartagena price, import) = 7 $ 0.51 ; £ 0.10 ; Fr. 2.37
1805: 1 Troy Oz. platina (Cartagena price, import) = 7 $ 0.51 ; £ 0.10 ; Fr. 2.37
1806: 1 Troy Oz. platina (Cartagena price, import) = 5 $ 0.37 ; £ 0.07 ; Fr.1.69
1807: 1 Troy Oz. platina (Cartagena price, import) = 6 $ 0.44 ; £ 0.060 ; Fr. 2.03
1803: 1 Troy Ounce platina (Cartagena, illicit export) = S$ 0.406
| $8/libra | $7/libra | $6/libra | $5/libra | $4/libra | $3/libra | |
| Per Ozt | Per Ozt | Per Ozt | Per Ozt | Per Ozt | Per Ozt | |
| 1800 | £0.1217 | £0.1065 | £0.0913 | £0.0761 | £0.0608 | £0.0456 |
| 1801 | £0.0885 | £0.0774 | £0.0664 | £0.0553 | £0.0442 | £0.0332 |
| 1802 | £0.0844 | £0.0738 | £0.0633 | £0.0527 | £0.0422 | £0.0316 |
| 1803 | £0.0819 | £0.0716 | £0.0614 | £0.0512 | £0.0409 | £0.0307 |
| 1804 | £0.0785 | £0.0687 | £0.0589 | £0.0491 | £0.0393 | £0.0294 |
| 1805 | £0.0743 | £0.0650 | £0.0557 | £0.0464 | £0.0372 | £0.0279 |
| 1806 | £0.0807 | £0.0706 | £0.0605 | £0.0504 | £0.0403 | £0.0303 |
| 1807 | £0.0878 | £0.0769 | £0.0659 | £0.0549 | £0.0439 | £0.0329 |
| 1808 | £0.0941 | £0.0823 | £0.0706 | £0.0588 | £0.0471 | £0.0353 |
| 1809 | £0.0972 | £0.0851 | £0.0729 | £0.0608 | £0.0486 | £0.0365 |
| 1810 | £0.0992 | £0.0868 | £0.0744 | £0.0620 | £0.0496 | £0.0372 |
| 1811 | £0.1036 | £0.0907 | £0.0777 | £0.0648 | £0.0518 | £0.0389 |
| 1812 | £0.0973 | £0.0851 | £0.0730 | £0.0608 | £0.0486 | £0.0365 |
| 1813 | £0.1161 | £0.1016 | £0.0870 | £0.0725 | £0.0580 | £0.0435 |
| 1814 | £0.1042 | £0.0911 | £0.0781 | £0.0651 | £0.0521 | £0.0391 |
| 1815 | £0.0910 | £0.0796 | £0.0683 | £0.0569 | £0.0455 | £0.0341 |
| 1816 | £0.0782 | £0.0684 | £0.0586 | £0.0488 | £0.0391 | £0.0293 |
| 1817 | £0.0797 | £0.0698 | £0.0598 | £0.0498 | £0.0399 | £0.0299 |
In the mid-1820s, the Price of Gold Dust from Colombia was cited 25% higher in Jamaica. Given trade-risk for contraband, brides, etc., the Jamaican merchants' rate will be ~25% higher, at a minimum. (The unknown Jamaica rate for Spanish Coin is unknown; the London rate substitutes.) The following table suggest a range of prices paid by merchants for average-quality platina ore in Jamaica 1800-1817.
| $10./lb. | $8.75/lb. | $7.50/lb. | $6.25/lb. | $5./lb. | $3.75/lb. | |
| Per Ozt | Per Ozt | Per Ozt | Per Ozt | Per Ozt | Per Ozt | |
| 1800 | £0.1521 | £0.1331 | £0.1141 | £0.0951 | £0.0761 | £0.0570 |
| 1801 | £0.1106 | £0.0830 | £0.0830 | £0.0691 | £0.0553 | £0.0415 |
| 1802 | £0.1055 | £0.0791 | £0.0791 | £0.0659 | £0.0527 | £0.0395 |
| 1803 | £0.1024 | £0.0768 | £0.0768 | £0.0640 | £0.0512 | £0.0384 |
| 1804 | £0.0982 | £0.0736 | £0.0736 | £0.0614 | £0.0491 | £0.0368 |
| 1805 | £0.0929 | £0.0697 | £0.0697 | £0.0581 | £0.0464 | £0.0348 |
| 1806 | £0.1009 | £0.0756 | £0.0756 | £0.0630 | £0.0504 | £0.0378 |
| 1807 | £0.1098 | £0.0823 | £0.0823 | £0.0686 | £0.0549 | £0.0412 |
| 1808 | £0.1176 | £0.0882 | £0.0882 | £0.0735 | £0.0588 | £0.0441 |
| 1809 | £0.1216 | £0.0912 | £0.0912 | £0.0760 | £0.0608 | £0.0456 |
| 1810 | £0.1240 | £0.0930 | £0.0930 | £0.0775 | £0.0620 | £0.0465 |
| 1811 | £0.1295 | £0.0971 | £0.0971 | £0.0810 | £0.0648 | £0.0486 |
| 1812 | £0.1216 | £0.0912 | £0.0912 | £0.0760 | £0.0608 | £0.0456 |
| 1813 | £0.1451 | £0.1088 | £0.1088 | £0.0907 | £0.0725 | £0.0544 |
| 1814 | £0.1302 | £0.0977 | £0.0977 | £0.0814 | £0.0651 | £0.0488 |
| 1815 | £0.1138 | £0.0853 | £0.0853 | £0.0711 | £0.0569 | £0.0427 |
| 1816 | £0.0977 | £0.0733 | £0.0733 | £0.0611 | £0.0488 | £0.0366 |
| 1817 | £0.0996 | £0.0747 | £0.0747 | £0.0623 | £0.0498 | £0.0374 |
1801: 1 Troy Ounce platina (Specimen Price) = S$ 0.584
In 1805, where the Colombian price may be estimated @ 7 piastres [$1.08*$7.] per Colombian “pound”:
1805: 1 Troy Oz. platina (Cartagena price, import) = 7 $ 0.51 ; £ 0.10 ; Fr. 2.37
1805: 1 Troy Oz. platina (Cartagena price, import) = 7 $ 0.51 ; £ 0.10 ; Fr. 2.37
1806: 1 Troy Oz. platina (Cartagena price, import) = 5 $ 0.37 ; £ 0.07 ; Fr.1.69
1807: 1 Troy Oz. platina (Cartagena price, import) = 6 $ 0.44 ; £ 0.060 ; Fr. 2.03
1808: 1 Troy Oz. platina (Cartagena price, import) = 6 $ 0.44 ; £ 0.060 ; Fr. 2.03
1809: 1 Troy Oz. platina (Cartagena price, import) = 5 $ 0.37 ; £ 0.07 ; Fr.1.69
1824: American Cambist
1809: 1 Troy Oz. platina (Cartagena price, import) = 5 $ 0.37 ; £ 0.07 ; Fr.1.69
1824: American Cambist
c.1798 :
1805: British Cambist
1809:
In Jamaica (c.1820) from whence most platina was smuggled:
June 8, 2010
USA, 1828: Ohio (Dated Colombian Estimation)
1828: 1 Troy Ounce Platinum (coined rate) = £1.10 (USD$ 5.43)
News of late 1827:
Citation: Niles' Weekly Register, Vol. 33 (February 2, 1828)
It was a matter of more than passing academic interest what Platinum was worth, but US platina or platinum prices were not recorded or publicly reported until the last quarter of the 19th Century. Establishing the relative intrinsic value of Platinum by ratio with Silver and Gold was one common reference, even where the market price of the commodity (unrefined platina and semi-manufactured Platinum) was in flux and subject to local scarcity.
On the Eastern seaboard, generic news from London to New York/Boston took ~35-40 days, and Russian summer news was at least 12 days older (~50 days prior) during shipping months of 1828. In rural Miami Ohio, printed news from New York traveled ~14 days; from Colombia ~45 days, from London ~50 days; from Vienna, Austria 70 days; from St. Petersburg ~65-80 days before or after the port froze seasonally.
Another 'common misunderstanding' was simply repeating an old price reported elsewhere, earlier. On May 17, 1826, the Colombian Government declared a Mint price of $6./per onza, an arbitrary price largely estimated by platina sales to exporting merchants. The rural Ohio newspaper appears to be repeating that particular valuation (1826) matter-of-factly, as late as August 1828. In reality, imported platina prices were declining from a presumed Price-of-Gold High in the USA circa March, 1826.
In rural Ohio, Russian "commercial news" was at least 2.5 months old. The poor state of information is also evidenced by the dated and incorrect Rouble price (August, 1827: Journal d'Odessa) August 1827 news reported in the Summer 1828.
October, 1828: The August 1827 Paper Rouble price at the Silver Rouble exchange rate. Although it's tempting to imagine a US price of $15.53 per Troy Ounce of platina or $ 26.44/oz. for refined Platinum, there were significant duties to be added to Pt imported into the USA.
Erroneous calculation, actual 1828 US/New York market price unstated.
Citation: Journal of the Franklin Institute, Vol. 2 (Philadelphia, Pa.) Oct. 1828 p. 249
Citation: Cuerpo de leyes de la republica de Colombia: que comprende todas las leyes (1840) p.541
Correctly, "the value of platina" might be estimated at intrinsic rates and/or quality of the ore. A US market rate for imported Platinum was certainly much higher, too. By coincidence, the August market-price for imported Platinum in New York and Philadelphia was probably ~USD$6. ; three months earlier the price was higher, ~$7. The January 1828 price should have been ~ $8., etc.
After the 15% tariff was removed in 1832, "Six Dollars" per Troy Ounce was a merchant's cited price for imported bulk manufactured Platinum in 1833, five years later.
If these are correct market prices for the ore, platina had risen 593% from 1816 - 1828, though the platina price was already declining after 1830.
1828: 1 Troy Ounce Silver = USD$ 1.1538 (4x Ag) ~ $4.60
1828: 1 Troy Ounce Gold = USD$ 19.39 (1/4 Au) ~ $4.85
1828: 1 Troy Oz. Platinum (coined) = £ 1.10 (USD$ 5.42)
1828: 1 Troy Oz. platina (market) = USD$ 6.
News of late 1827:
Citation: Niles' Weekly Register, Vol. 33 (February 2, 1828)
Citation: The Literary Register; a weekly paper edited by the professors of ..., Vol. 1, Miami University (Oxford, Ohio) 1828 p.174
It was a matter of more than passing academic interest what Platinum was worth, but US platina or platinum prices were not recorded or publicly reported until the last quarter of the 19th Century. Establishing the relative intrinsic value of Platinum by ratio with Silver and Gold was one common reference, even where the market price of the commodity (unrefined platina and semi-manufactured Platinum) was in flux and subject to local scarcity.
On the Eastern seaboard, generic news from London to New York/Boston took ~35-40 days, and Russian summer news was at least 12 days older (~50 days prior) during shipping months of 1828. In rural Miami Ohio, printed news from New York traveled ~14 days; from Colombia ~45 days, from London ~50 days; from Vienna, Austria 70 days; from St. Petersburg ~65-80 days before or after the port froze seasonally.
Another 'common misunderstanding' was simply repeating an old price reported elsewhere, earlier. On May 17, 1826, the Colombian Government declared a Mint price of $6./per onza, an arbitrary price largely estimated by platina sales to exporting merchants. The rural Ohio newspaper appears to be repeating that particular valuation (1826) matter-of-factly, as late as August 1828. In reality, imported platina prices were declining from a presumed Price-of-Gold High in the USA circa March, 1826.
In rural Ohio, Russian "commercial news" was at least 2.5 months old. The poor state of information is also evidenced by the dated and incorrect Rouble price (August, 1827: Journal d'Odessa) August 1827 news reported in the Summer 1828.
Erroneous calculation, actual 1828 US/New York market price unstated.
Citation: Journal of the Franklin Institute, Vol. 2 (Philadelphia, Pa.) Oct. 1828 p. 249
Correctly, "the value of platina" might be estimated at intrinsic rates and/or quality of the ore. A US market rate for imported Platinum was certainly much higher, too. By coincidence, the August market-price for imported Platinum in New York and Philadelphia was probably ~USD$6. ; three months earlier the price was higher, ~$7. The January 1828 price should have been ~ $8., etc.
After the 15% tariff was removed in 1832, "Six Dollars" per Troy Ounce was a merchant's cited price for imported bulk manufactured Platinum in 1833, five years later.
If these are correct market prices for the ore, platina had risen 593% from 1816 - 1828, though the platina price was already declining after 1830.
1828: 1 Troy Ounce Silver = USD$ 1.1538 (4x Ag) ~ $4.60
1828: 1 Troy Ounce Gold = USD$ 19.39 (1/4 Au) ~ $4.85
1828: 1 Troy Oz. Platinum (coined) = £ 1.10 (USD$ 5.42)
1828: 1 Troy Oz. platina ~ $4.75
1828: 1 Troy Oz. Platinum (intrinsic) ~ USD$ 6.
1828: 1 Troy Oz. Platinum (intrinsic) = USD$ 7.15
Citation: Gaceta de Colombia, Vol. 4, Issues 359-493
Citation: Gaceta de Colombia, Vol. 4, Issues 359-493
1831: 1 Troy Ounce Platinum (hypothetical, coined rate) ~ USD$ 4.55
1832/3: : 1 Troy Ounce Platinum (imported Paris manufacture) = USD$ 6.
1816: 1 Troy Ounce platina (ore @ Philadelphia) = USD$ 0.6857
In 1829, actual news from English markets took at least 4 weeks to reach the USA, but "recent" topical matters might be dated several years earlier.
February 2, 1828: Recycled news, but suggesting a diminished platina price in New York
The specimen had been found in 1824, nearly four years earlier:
Citation: Geo. F. Kuntz in Economic World, Vol. 15 (1/12/1918)
1920: Estimation for Period?
1828:
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