USA, 1851: California Gold Rush ; US Platinum Shortage

By 1850, Platinum was a recognized as a strategic metal: refining of both Gold and Silver, and the manufacture of certain chemicals, necessitated Platinum apparatus. 

Simultaneous to Gold discoveries in Australia, the California Gold-Rush precipitated a short-lived Platinum price hike in 1851, as (British-manufactured) equipment & supplies were suddenly scarce. We can presume the prices were much higher in remote mining areas of California and New South Wales. 

Global Spot Pt (local scrap and platina prices) did not witness inflation likewise, apparently.  

1851: 1 Troy Oz. platina (Chocó : 80% Ore, Bulk) = C$ 3.786

1851: 1 Ozt. platina (Colombian Export: Ore, Bulk) = C$ 3.99 - 4.05

1851: 1 Ozt. Pt (Colombian Export: .999) = C$ 4.99 - 5.07 

1850: 1 Troy Oz. Platinum (SPb: Bulk Scrap, Mkt) ~ USD$ 4.44 (5.83 руб)

c. January, 1851: 1 Ozt. platina (So.German Mkt: Ru Ore, Bulk) = $ 4.06 (Fl 10.17)    
c.January, 1851: 1 Ozt. Platinum (So.German Mkt: Scrap, Bulk) = $ 5.55 (Fl 13.89)

1851: 1 Ozt. Platinum (Saxony: Semi-Mfg, Bulk) = USD$ 8.81 (Thlr. 12.77)
1851: 1 Ozt. Platinum (Saxony: Semi-Mfg, Ret.) = USD$ 9.91 (Thlr. 14.36)

May, 1851: 1 Ozt. Platinum (UK: Semi-Mfg, Whols./Ret.) = USD$ 9.75 (£ 2.)
May, 1851: 1 Troy Oz. Platinum (UK Mfg & Ret.) ~ USD$ 15.84 (£ 3.25)  
  
April 1851: 1 Ozt. platina (Ore? US Import) ~ USD$ 5.00

Mid-1851: 1 Ozt. Platinum (Semi-Mfg, Retail) ~ USD$ 11.25
Mid-1851: 1 Ozt. Platinum (Mfg, Boston Retail) ~ USD$ 15.00

Reported May 7, 1851:

Citation: Proceedings of the Boston Society of Natural History, Vol. 4 (1854) p.61



Citation: Annual of Scientific Discovery: Year-book of facts in science and art for 1852; David Wells (1852) p.299


With a huge discovery in California and a sudden glut of Gold, Silver & Palladium benefited from a Gold Panic in 1850/1 on European markets.  There was a minor & short-lived spike in the Platinum metals' prices.