USA, 1879: Iridium Burner

1878: 1 Troy Oz. Platinum (London: Mfg, Trade)  = USD$ 7.76 (£ 1.60)
  
1879: 1 Troy Oz. Platinum (London: Intrinsic) = ~ USD$ 7.17 (Fr 37.324)

1879: 1 Troy Ounce Platinum (London: Bulk)  = USD$ 7.46 (£ 1.60)
1879: 1 Troy Oz. Platinum (London: Semi-Mfg., Trade)  = USD$ 7.93 (£ 1.70) 
1879: 1 Troy Oz. Platinum (Germany: Mfg, Bulk) ~ USD$ 6.68 (ℳ 27.99)  1879: 1 Troy Ounce Platinum (Austria: Customs) ~ USD$ 8.63 (Fl 20.84)
1879: 1 Ozt. Platinum (Austria: Customs Rate) ~ USD$ 6.44 (Fl 15.55)

1880: 1 Troy Oz. Platinum (USA: Imported Mfg, Retail) = USD$ 14.40


c. 1879: $70.-75./ Lb. avd. = 

c. 1879: 1 Troy Oz. platina (NYC: 82.5% Ore) = USD$ 4.80 - 5.14
c. 1879: 1 Ozt. Pt (NYC: 99.9% Ore) = USD$ 5.82 - 6.23
c. 1879: 1 Ozt. Pt (NYC: .999) = USD$ 5.82 - 6.23

Citation: Our western empire: or, The new West beyond the Mississippi: The latest and ... (1882) p.123








1879: 1 Troy Oz. platina (NYC: CA ore: 52%) = USD$ 3.
1879: 1 Troy Oz. platina (CA ore: Export, .999) = USD$ 5.77
 
c.1879?: 1 Troy Oz. Platinum (Trade: Foil & Wire, p. 42) = $ 10. - 10.80
  
1879: 1 Troy Oz. Platinum (Mfg, Retail) = USD$ 14.40

c.1879: 1 Troy Oz. Palladium (Pure, Trade) = USD$ 42.

Citation: Transactions of New York Odontological Society;  New York Odontological Society (1880)
 

Raynor's Crucible prices:
 


c. 1879: 1 Troy Oz. Iridium (Mfg, Whols.) = $24.

 


As reported by Otto Lüthy in Philadelphia (August 1879) it's by no mean clear the California platina was processed in California for $12-15./Ozt.; this might simply be an uncorrelated retail price for imported, foreign-manufactured wares.

About two years ago this mine has been worked and Platinum sold in San Francisco for 12 and 15 dollars per Ounce.

Citation: Chemiker-Zeitung: 1879, Vol. 3, No. 38, p.559
  



As perhaps the largest single wholesale consumer globally, Edison was paying the lowest rate he could arrange; therefore, he basically knew and perhaps even 'set' global market 'Spot' rates for Platinum's industrial demand. 

Citation: California Journal of Mines and Geology, Vol. 3? (1883) p.20
  

Although the Platinum utilized in his experiments was 0.343 Grams (according to Edison's notes), the manufactured product contained not more than 0.8162 Grains. 

Edison's Lamp cost $0.25 to manufacture and contained $0.08 Platinum as two small clamps, :

c.1879?: 1 Troy Oz. Platinum (Mfg, Edison Lamp Component) = $ 47.05




Edison falsely claimed he purchased Platinum for $1/Ozt.

1879: 1 Troy Ounce platina (California Spot: 52%) = USD$ 1.
1879: 1 Troy Oz. platina (US ore: intrinsic) = USD$ 1.923

That his research all tends toward one and the same goal does not preclude us from mentioning that Edison has made a valuable discovery, perhaps equal to the electric light, equal to the least powerful dynamometer : that is, virgin platinum, and at a very low price. Platinum came mostly from the Urals in Russia and was very expensive, and Edison needed it as an essential element to his products ; where platinum thus far prevented the cheapness of his products, every inventor must always strive for lower prices. Our wise American understood that was absolutely necessary to have a less expensive Platinum and began to look, and found it, indeed, at home. Platinum is mixed with gold ores, and is easily extracted, it's here that Edison went looking, and today he can procure it for a Dollar an ounce: science and industry will gratefully kneel before him, Edison is obviously a little bit "the wizard of Menlo Park."

Citation: Revue canadienne, Vol. 16, Ed. Alphonse Leclaire (1879)p.638.



Hypothetically, the cheapest possible rate:

1878: 1 Troy Oz. platina (Nóvita Spot: 82.5% Ore) = USD$ 2.90 (C$ 3.)
1878: 1 Troy Oz. Pt (Nóvita Spot: .999 Pt) = USD$ 3.51
1878: 1 Troy Oz. platina (Nóvita Spot: Ore, Shipping at 3%) = USD$ 2.98
1878: 1 Troy Oz. Pt (Shipped to USA: .999 Pt) = USD$ 3.61
1878: 1 Troy Oz. Pt (Refined: .999 Pt) = USD$ 4.41

There is no record that Platinum sold anywhere near USD$ 58./Ozt in 1879; the author's error was likely "per Troy Ounce." Factoring the same rates to import and refine as above:

1879: 1 Troy Oz. Platinum (Cost: Colombian Bulk Ore, Refined) = USD$ 3.21

Citation: Riden to Edison, TAEP, Document file Series, 51:171. 

Riden said he could beat the two dollars a gram Edison was paying to import relatively pure platinum from Colombia, although he could only guarantee 25 to 50 ounces a week which would never have been enough.

Farmer himself discovered, it has a higher melting point than platinum, higher indeed than any metal except possibly osmium, which cost $3.25 a gram... To put this in context, iridium cost $77.75 an ounce, at a time when the average workman made 25 cents an hour. Edison believed he had a plan...

Where the first Edison lamp contained 0.8162 English Troy Grains, 588 Lamps contained 1 Ozt Platinum, for a manufactured cost ($0.08) of 10.67% the retail price (@ $0.75/ea.)


1879: 1 Troy Oz. Platinum (Cost: Manufacture) = USD$ 47.05
1879: 1 Troy Oz. Platinum (Manufacture, Retaill) = USD$ 441.

Citation: American Gas Light Journal, Vol. 61 (9/3/1894)


The search for a substitute filament and technology began immediately; Edison understood the supply issue and the threat of speculators, but remained convinced that Platinum was essential to his light bulbs.

1879: 1 Troy Ounce platina (Russian Ore, 75%) = £ 0.2279 (USD$ 1.14)
1879: 1 Troy Oz. Pt (Russian Ore, .999) = USD$ 1.42
1879: 1 Troy Oz. Pt Shipping. Etc. ~ USD$ 0.50?
1879: 1 Troy Oz. Pt Refining & Manufacture = USD$ 0.35
1879: 1 Troy Oz. Platinum, Unmanufactured ~ USD$ 2.50
 

1879: 1 Troy Ounce Platinum (Manufactured Cost) = £ 3.0 (USD$ 15.00)



Had there been 1 million ounces of Platinum just sitting in the imaginary chinamens' mine tailings, why and how did Edison pay £ 3.0/Funt (£ 120./$600. per Poud; £ 7.3258/kg) for Russian platina?