UK, 1805: First Platinum Still, and Platina Prices

One of the earliest English references to its use is the record of the Prince of Wales' (later, Geo. IV) purchase of a 'platina' watch chain in 1805.


Workmanship, from Wollaston's Notebooks, pay be assumed a small charge over the flat manufactured rate indicated: £ 0.875/Ozt. Thomas cock estimated the "crucible &rolling" charge at 8d.; here, not more than 6d.

1805: 1 Troy Oz. Platinum (Ingot: Semi-Mfg, Ret.) = £ 0.75 (USD$ 3.33)
1805: 1 Troy Oz. Platinum (Wire: Semi-Mfg, Ret.) = £ 0.80 (USD$ 3.55)
1805: 1 Troy Oz. Platinum (Mfg, Ret.) ~ £ 0.90 (USD$ 4.)

Citation: The Philosophical Magazine: Comprehending the Various Branches..., Vol. 21, No. 83 (April 1805)  p.297

In 1805, Henry Hyde Wollaston made a concentrating still holding 30 wine gallons (114 litres) or 300 lbs oil of vitriol for Philip Sandmann (Sandemann.); this still was reportedly re-sold to Charles Tennant of the St. Rollox Works. 

The total weight was 406.5 Troy Ounces and cost £ 282 9s, or 13s. 10d./Ozt.  The manufacture was by Chas. Sylvester for ~£ 50.1; the net bulk price of Platinum Sheet was 11s. 5.2 d.  

1803: 1 Troy Oz. platina (Cartagena: Contraband, 75% Ore) = £ 0.1065
1803: 1 Troy Oz. Pt .999 (Cartagena: Intrinsic) = £ 0.142
1804/5: 1 Troy Ounce platina (UK: ore, trade) = £ 0.2468
1804/5: 1 Troy Oz. Pt (UK: intrinsic) = £ 0.3751
1804/5: 1 Troy Oz. Pt (UK: Refining Cost) = £ 0.4452
1804/5: 1 Troy Oz. Platinum (UK: Small Producer First Base Cost) = £ 0.82

1805: 1 Troy Oz. Pt (Paris: French Refined First Base Price) = £ 0.9717
1805: 1 Troy Oz. Platinum (Paris: Mfg First Base Price) = £ 1.215

1805: 1 Troy Oz. Platinum (UK: Sheet)  = £ 0.57183
1805: 1 Troy Oz. Pt UK Manufacture = £ 0.123
1805: 1 Troy Oz. Platinum (UK: mfg., bulk)  = £ 0.6947

As reported in 1814 ("many years" = 9 years) this still remained in use; Wollaston's notebook indicated the weight was 356 Ozt, 50.5 Ozt lighter, losing about -5 Ozt per year. 



The approximate amount of refined Platinum by weight per Litre was (dubiously) 3.58 Troy Ounces; the amount of Litres contained per Troy Ounce was 0.293 Litres.  Exceedingly economical, if correct.


From 1805 - 1830, the UK price of refined Platinum rose 50%:  £ 0.75 > 1.25.

1806: 1 Troy Ounce platina (ore, retail)  = £ 0.2743

1805: 1 Troy Oz. Silver = £ 0.2583 

1805: 1 Troy Oz. Platinum (refined, retail)  = £ 0.75 (USD$ 3.26)
1805: 1 Troy Oz. Platinum (manufactured, bulk)  = £ 0.6947


1815/6: 1 Troy Oz. Platinum (refined, retail)  = £ 1.05 (USD$ 3.26)

Citation: A dictionary of chemistry and mineralogy , with an account of the ..., Vol. 1, Arthur Aikin et al. (1807) p.118

Two years later, Richard Knight paid about the half the original retail price. 

1805: 1 Troy Oz. Palladium (Trade, Knight: 0.8935) = £ 12.60 (USD$ )
1805: 1 Troy Oz. Palladium (.999)  = £ 26.86 (USD$ )
 
"As early as July 20th 1805 Richard Knight purchased one ounce of palladium for twelve guineas and promptly wrote to Nicholson who included in the August issue of his Journal the following notice: “ By a letter from Messrs Knight of Foster Lane I am informed that the new metal, palladium, may be purchased at their warehouse” (49)."

c.1804: Thom. Cock's Platinum