After the 1830-34 Price Collapse, French industrialists sought to define (and perhaps, stabilize) the price of refined Platinum. In the discussion, perhaps they avoided the philosophical or commercial (elemental rarity & market price) as Platinum's relative value was unknown or chaotic?
Weighing 163 gr. and valued at Fr. 349.52 each:
Weighing 163 gr. and valued at Fr. 349.52 each:
1835: 1 Troy Ounce Platinum = Fr 66.7 (USD$ 12.40)
Citation: Annuaire de l'économie politique, Volume 8 (1851) p.189
Although consideration of the market value of the medals is only secondary to the question at this moment before the Council, it may be curious to know what would be the proportions of a platinum medal of the same module and same thickness as the medal money.
We can make an assessment, at least approximately , by the following calculation .
According to data provided by the table of specific gravities / inserted Directory of the Bureau des Longitudes , the weight of a given volume of money being taken equal to 1, that the same amount of platinum will 1.9417 .
Since the mines of the Ural Mountains provide plenty of this latter metal, a monetary system based on Platinum was established in Russia next to the systems of the Silver Rate and Gold Rate; in this system Platinum was given the value of four and a half times the weight of Silver. If this assessment is adopted and it is applied to the issue before us, we find that a given volume of platinum would be 8.738 times the same amount of Silver. (4.5 x 1.9417 =8.738)
Multiplying this ratio by the number Fr. 40, which expresses the value of the Silver medal of the Société d'Encouragement, a Platinum medal in the same module and the same thickness would be Fr. 349.52 , a value is not far from the Fr 500. given to the 2nd Class Gold medal, which , according to our proposal, it is intended to replace.
Citation: BULLETIN DE LA SOCIETE D'ENCOURAGEMENT OUR L'INDUSTRIE NATIONALE (1835), p.353
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