June 2, 2010

Colombia, 1819/20: Platina Prices, Wrong & Right



1819: 1 Troy Ounce platina (raw ore, in Colombia) =  S$ 0.1352 (Rthlr 0.20)
1819: 1 Troy Oz. platina (retail, in Wien) = Fl C.M. 3.02 = Rthlr Cour. 1.50


Dated merchant's letter of April 7, 1826 and where the Spanish Pound = 14.792 troy ounces:

  Citation: Columbus: Amerikansiche Miscelle; C.N. Roding (1827) p.18


The estimated Colombian forex for Reichsthaler, 1826:



1815-20: Morillo sold Spanish colonial platina to fund his campaigns, ~ 4,275 Troy Ounces of platina, or in 5.58 Years (765.5 Troy Ounce per year.)



The data below erroneously republishes old prices, perhaps from von Humboldt's work.  This higher price of platina was nearly two decades old!  The source price in Choco and Carthagena had dropped significantly by 1814/1819.

1817?: 1 Troy Ounce platina (raw ore, in Colombia) =  £ 0.11 (USD $0.50)

Citation:  Spanish America: or A descriptive, historical, and geographical account of ... By Sir Richard Henry Bonnycastle 1818, p.274

Citation: Colombia: being a geographical, statistical, agricultural, commercial, and ... By Alexander Walker (1822) p.312


The Silver Peso was underweight, 1819-21:


1917: One hundred years later, basic foodstuffs were sold in the Colombian Platinum district at 10x the coastal price; cheap and low-quality imports were likely marked up accordingly.

Citation: The Jewelers' circular, Vol. 79, Issue 2 12/17/1919 p.85

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