July 1, 2010

Colombia, 1834: Price of Ore Subsists








In Cartegena between 1833 - 1834, the export of platina apparently fell -58%.  It appears the Colombian discoveries were exhausted or the value collapsed.

There was also glut on the global market, as Johnson processed large quantities of Brazilian auro-palladium ore and the massive yield from the Uralian placers. 



The Russian price plummeted -50%, 1825-35.   In St. Petersburgh during 1834, scrap Platinum (w/ ~5% Iridium) was only worth about $1.50 or 8 Fr

Citation: La Lumiére électrique, Volume 42 (1891), p.164

c.1834: 1 Troy Ounce platina (ore, mkt) = Fr 5.08 - 6.10 (USD$ ) 

Citation: Dictionnaire du commerce et des marchandises, contenant tout ce ..., Volume 1 (1837), p.483

Platina ore form:

After 1828, Colombian platina was tariffed at S$2./per onza (£ 0.40)

Colombia, Bogota: 8-Escudos should weigh 27.01 Grams, .870 Fine Au. Specific Gravity 17.95? 

Coined new, the gilt counterfeit below presumably had ~13 Grains Fine Au, ~3% of its weight in Gold, Specific Gravity ~20.95?

Colombia, Bogota: 8-Escudos, 1832 RS, contemporary counterfeit struck in gold-plated platinum. Sed-6 and KM-82.1 for type. 26.3 Grams, 0.7 G (~11 Grains) underweight due to circulation. Strange coin with design close to original with a "washed out" color due to circulation wear on the plating, which has exposed the platinum base. Sold for USD$ 2,300. 4/10/2010 (Spot Pt:  )




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