July 31, 2010

Weight & Density: Gold, Silver & Platinum

Troy-weight per 1 sq. in. of sheet/plate Au, Ag & Pt

July 30, 2010

USA, 1918: War Platinum





The numismatic premium for a 1830 Proof 6-Rouble was 53.8% over the NY Market-Spot.  

This may be Lot 1001 in Stack's "Vermuele, Ward & Mexico Maxico" sale (New York, January 11, 2010) sold for $51,750.or 3,149% over the Pt Spot.

December, 1918: 1 Troy Oz. Platinum (Numismatic, @ .999 Pt) = USD$ 160.

Citation: The Numismatist: An Illustrated Monthly Magazine for Those ..., Vol. 32 (Feb. 1919)


May, 1918: 1 Troy Oz. Platinum (Official: .999?) = USD$ 105.
May, 1918: 1 Troy Oz. Palladium (Official: .999?) = USD$ 135.
May, 1918: 1 Troy Oz. Iridium (Official: .999?) = USD$ 175.

Citation: Price Bulletin, Issues 6-57 (US War Industries Board, 1919) p.75



Palladium Prices, monthly (1918): $135. - 150. (4/18) - 128.60

Citation: The Mineral Industry, Vol. 27 p.571



Early December, 1918:


1918: 1 Troy Ounce Platinum (ingot @ US Govt) = USD$ 105.
1918: 1 Troy Ounce Iridium (pure @ US Govt) = USD$ 175.
1918: 1 Troy Ounce Palladium (pure @ US Govt) = USD$ 135.

July 1918:

1918:






1916-18: 1 Troy Oz. Platinum (Colombia spot) = £ 19.56 (USD$ 93.10)
1916-18: 1 Troy Oz. Platinum (refined ingot, spot) ~ £ 22.0 (USD$ 105.)
1916-18: 1 Troy Oz. Platinum (UK scrap, Buy Rate) ~ £ 21.0 (USD$ 100.)









 Imports of PGMs:



USA Imports, Fiscal 1918:
 
History of events in US Pt mkt:



1919?

July 29, 2010

Austria/Germany, 1800: Platinum Crucibles Expensive

Brünn/Brno newspaper advertisement for imported platina & platinum, priced in Austrian Gulden/Loth (17.5 g.) The refined & manufactured price at Paris, circa 1795-8 was the Gold rate; platina must have fallen sharply immediately thereafter.


II Private - News.
Platina merchandise.
Platina in grains may be had for
Fl . 6 per Loth, and prepared in sheets for Fl. 9.  Where?  You may learn at the Intelligence Office. 


Late 1800: 1 Troy Ounce platina (Brno, Ore Retail) = Fl. 10.66 (Fr. 28.26)
Late 1800: 1 Troy Oz. Platinum (Brno, Semi-Mfg, Ret.)= Fl. 16. (Fr. 42.39)
Late 1800: 1 Troy Oz. Platinum (Brno, Mfg, Ret.)= Fl. 17.53 (Fr. 46.46)

c.1800: 1 Troy Oz. Platinum (Producer Price, Retail Mfg) = Fr 45.75 - 50.83



September, 1800:
Citation: Patriotisches tageblatt: oder öffentliches correspondenz- und ..., Vol. 1 (1800) p.149


Citation: Handbuch der Naturgeschichte;  Johann Friedrich Blumenbach (1802) 

** I have a platinum wire thinner than a human hair, and a hammered piece of copper, plated with silver on one side and the other with platinum, and the three different metals together have the thickness of a sheet of paper.  I also have a platinum bracteate {disc} well marked by Herr Ingenhouss struck in honor of the Astronomer {Maximilian} Hell.

 

See Museumsbrief Nr. 21/22 2002/2003, "Gedenkmedaille des Astronomen Maximilian Hell," p.1

Knight (1800) describes the cost of Paris-made Platinum manufactures "at a price equal to that of Gold" ; Necker's refining process (1801?) reportedly economized the labor cost to Fr 24.4 - 30.5 per troy ounce.  von Humboldt (1806) almost certainly refers to a retail platina price (82% ore @ Fr 10) so the Paris price of refined & worked Platinum might be estimated conservatively at about half the price of Gold.  

At export prices abroad, manufactured Platinum appears to have been sold nearly at the price of Gold (1795-1805), at least until Wollaston's production lowered British prices.

1801-05: 1 Troy Ounce Platinum (mfg) ~ Fr 35. - 43.



1799: Platina rare


Paris Forex, September, 1800:


c.1801:


Friedrich Mohs catalogued the mineral collection of J.F. van der Nüll in 1802.  The acquisitions of platina specimens predated his work.





Russia, 1860

Where 1 Poud (= 3,840 Zolotnik) = 2,253 руб Kr. and 1 English Troy Ounce = 7.2914432 Zolotnik:

1860: 1 Troy Ounce platina (Rus export price) = 4.278 руб Kr.; 4.04 руб Ag
.... £ 0.9216
 
Citation: Journal of the Society of Chemical Industry, Vol. 9 (May 31, 1904) p.568


Where 1 Poud = 3,264 руб Kr. and 1 English Troy Ounce = 7.291 Zolotnik:

1860: 1 Troy Ounce platina (European price) = 6.1977 руб Kr.; 5.851 руб Ag  
.... £ 0.9216

1860: 1 Troy Oz. Platinum (UK) = 9.0788 руб Kr.

"Цена эта представлялась самой удобной, так как платина продавалась в 1860 г. за границу по 85 коп. за золотник, и не велика, потому что сравнялась бы с ценой платины других стран."


"The price that seemed the most convenient, since in 1860 Platinum was sold abroad for 85 Kopecks per Zolotnik, and is not high, because that became equivalent to the price of Platinum from other countries."



1860: 1 Troy Ounce platina (Rus export price) = 6.36 руб = (USD$ 5.)


c. 1858? 
?: 1 Troy Ounce platina (intrinsic) = 6.95 руб = (USD$ 5.47)

Citation: Angewandte Arithmetik zum Gebrauche in Latein- und Realschulen; Johann B. Eckl (1861) p.183

1860: 1 Troy Ounce platina (Rus export price) = 6.36 руб 

1859: Au Yield = 1,491 Poud = 59,640 Funt = 785,227.3 Ozt.= 24,423.3 Kgs.













 







USA, 1884: Queen's 34th Ed. Catalogue

It's helpful to examine the range of Platinum prices, from ore to manufactured retail. Manufacturing & trade costs illustrate a 300-400% price difference between domestic platina and refined Platinum.
 
1883: 1 Troy Oz Platinum (Refined, Wholesale, Import) = USD$ 6.50 - 7.50
1883: 1 Troy Oz Platinum (Semi-Mfg, Import Whols.) = USD$ 8.

Early 1884: 1 Troy Oz. Platinum (UK: Scrap, Bought) = USD$ 4.86 (£ 1.00) 
1884: 1 Troy Oz. Platinum (Bullman: J-M US Trade) = USD$ 7.40 (£1.53)
 
1884: 1 Troy Oz Platinum (Mfg, Whols./Import) = USD$ 7.50 - 8.50
1884: 1 Troy Oz Platinum (Mfg, Whols.) = USD$ 10.89 - 14.
1884: 1 Troy Oz "Platinum" (Whols/Import Mkt: all types) = USD$ 8. - 12.

1882-4: 1 Troy Oz platina (NY Mkt: US/Cdn ore) = USD$ 3.


1885: 1 Troy Oz. platina (CA Spot, ~50% ore) = as low as USD$ 0.75

1885: 1 Troy Oz. platina (CA Spot, intrinsic) = USD$ 1.50

1886: 1 Troy Oz. platina (NYC: US ore, ~50%) = $ 2.

1886: 1 Troy Oz. platina (NYC: US ore, intrinsic) = $ 4.
1886: 1 Troy Oz. platina (US ore, 70%) = $ 4.50


1863: 1 Troy Oz. Platinum (Rouble Coin; intrinsic value?)  = $ 3.10
1882: 1 Troy Oz. Platinum (Scrap, Bid: Low) = USD$ 5.1882: 1 Troy Oz. Platinum (Rouble Coin; Numismatic/Proof)  = $ 15.71
  
Charles Steigerwalt, well-known coin dealer of Lancaster, PA publishing a coin newsletter, offered an uncirculated 1828 3-Rouble for $3.  Assuming 10.10 g. Fine Pt:


March 1884: 1 Troy Oz. Platinum (Rouble Coin; Numismatic/Uncirc.)  = $ 9.24 

Citation: Steigerwalt's Coin Journal: A Bi-monthly Magazine, Vol. 1, No. 5, p.120



1884: 1 Troy Oz "Platinum" (Whols/Import Mkt: all types) = USD$ 8. - 12.
 


Assuming .500 Pt, 

1885: 1 Troy Oz Platinum (Intrinsic, Bid) = USD$ 1.50


Citation: Mineral resources of the United States, Vol. 2 (1886) p.577







Citation: Chemical news and journal of industrial science, Vol. 54  Sir William Crookes.. (1886) p.310




1884: 1 Troy Oz "Platinum" (Whols/Import Mkt: all types) = USD$ 8. - 12.

c. April 1884





June, 1884:

1884: 1 Troy Oz Platinum (Semi-Mfg, Whols.) ~ USD$ 8.
 
Citation: Photography, Vol.1 (June, 1884) p.59



Citation: Engineering and mining journal, Volume 39 ... (1885) p.278

1883: February & May Prices ($8.30 & $8. ?)



Queen's Catalogue:


1884: 1 Troy Oz Platinum (Semi-Mfg, Whols.) = USD$ 10.89


Citation: Priced and illustrated catalogue of physical instruments / Chemicals and chemical apparatus and school apparatus generally; James W. Queen & Company 34th Ed. 1884













1885?: Platinum foil was $.40 per square inch (for a 1"x1.5" Platinum foil)

Citation: The elements of chemistry: A text-book for beginners, Ira Remsen (1886)

Citation: Engineering and mining journal, Vol. 39 ... (1885) p.278

1884:
Citation: Photography, Volume 1 (1884) p.59

1884: 1 Troy Oz Iridium (refined) ~ USD$ 20.

Citation: Engineering and mining journal, Vol. 39 ... (1885)








Platinum slag in NY Assay Office, ~15 Ozt per Year.




US Imports: