DSQ
The price of Platinum fell dramatically in 1828.
The price of Platinum fell dramatically in 1828.
1827: 1 Troy Ounce Platinum (Paris Mkt) = Fl 12.50-12.97 ; Rthlr. 6.873 - 7.15
7/1827: 1 Troy Oz. platina (SPb, Ore) = Fl 10.87 (~ 5.873 руб Ag)
..... (21.87664 руб Acc. = ℳ 12.47)
7/1827: 1 Troy Oz. Pt (SPb, Sponge) = Fl 14.49 (~ 7.83 руб Ag)
..... (29.16885 руб Acc. = ℳ 16.63)
7/1827: 1 Troy Oz. Pt (SPb: Semi-Mfg) = Fl 18.11 (~ 9.7875 руб Ag)
..... (36.46107 руб Acc. = ℳ 20.78)
Summer, 1828: 1 Troy Oz. Platinum (Paris: Mfg) = Fr 24.38 (Fl 24.55)
February 1828:
2/1828: 1 Troy Oz. Platinum (Bavaria:Semi-Mfg.) = Fl 23.43 (Thlr 13.02)
Where the Bavarian Commercial Loth weighed 17.5 g. :
2/1828: 1 Troy Oz. Pt (Bavaria: Semi-Mfg.) = Fl 23.11 (Thlr 12.83)
.... (USD$ )
Übrigens wurde die von Karl August bestellte Platinsammlung mit großer Verschwiegenheit behandelt, ohne daß aus den benutzten Quellen der Grund dafür zu erkennen ist. Es ist noch zu erfahren, daß sich Goethe bei Felix Küstner, dem Sachsenweimarischen Generalkonsul in Leipzig, nach dem Marktwert von Platin erkundigte und daß er vom Geheimen Regierungsrat Heibig eine Abschrift der Bestellung wünschte und auch erhielt. Denkbar ist, daß Karl August durch Alexander von Humboldt selbst vom Anlaß und Zweck seiner bevorstehenden Sibirienreise erfahren und daß Humboldt die Verbindung zu Kankrin vermittelt hatte.
Goethe scheint in diesem Zusammenhang noch nicht direkt mit Kankrin in Kontakt gekommen zu sein. Denn als ihm Kankrin 1830 ein Stück Gold und ein Stück Gold und ein Stück Platin, jedes etwa 100 g schwer, verehrte, findet sich in Kankrins Begleitbrief und in Goethes Dank kein
By the way, ordered by Karl August platinum collection was treated with great secrecy, without the use of sources of reason is to recognize. It is yet to learn that Goethe inquired of Felix Küstner, the Sachsenweimarischen General in Leipzig, according to the market value of platinum and that he wanted a copy of the order from the Privy Councillor Helbig and received. It is conceivable that experienced Karl August by Alexander von Humboldt himself from the occasion and purpose of his forthcoming trip Siberia and that Humboldt had taught the connection to Kankrin.
Goethe seems to be not yet come directly in this context with Kankrin in contact. For when it Kankrin 1830 a piece of gold and a piece of gold and a piece of platinum, each about 100 g in weight worshiped, thanks be found in Kankrins cover letter and in Goethe's no
Where the Cologne Loth = 14.61063 g. and the Bavarian Loth = 17.5 g.
2/1828: 1 Ozt. Platinum (Bavaria: Semi-Mfg.) = Fl 23.417 ($ 9.49)
2/1828: 1 Ozt. Platinum (Bavaria: Semi-Mfg.) = Fl 23.105 ($ 9.36)
Mid-February, 1828:
The Undersigned has Platinum, both in Sheet and Wire of various thickness, by the Cologne Loth Ounce-weight for Fl. 11 or the Bavarian weight for Fl. 13. Also, various implements of the same metals such as: Crucible, spatula, spoon to Loth-pipe try forceps, Platinum in solution (per Unze, Fl 2.) and Platinum Sponges for lamps (each piece, Fl. 0.20);
he also takes sufficient security against orders on more important
items of said metals in any form, whose prices are calculated as cheap
as possible depending on the nature of the significant object. By post,
forward Franc money.
Ludwig Wiedemann,
Pharmacist in Munich, Sonnenstraße, Nro. 1202.
Citation: Kunst- und Gewerbe-Blatt, Volume 14 (1828) p.111
Where the Bavarian Commercial Pfund was 560 Grams, a Loth (1/32nd) was 17.5
A German source (export market) noted the Platinum Price collapse and attempted to estimate Paris producer prices.
Johann Ludwig Klüber's ms. was completed around September, 1828. Assuming Summer dates (for the mention of "August, 1828") and where the Frankfort Gold- and Silver-Prices were consistent July-October (Gold Fl. 316 = ) :
Fall, 1828: 1 Troy Ounce Silver (Frankfort, Mkt.) = Fl 2.69 ($1.09)
Fall, 1828: 1 Ozt. Platinum (Frankfort, Mkt.) ~ Fl 14. ($5.67)
Fall, 1828: 1 Ozt. Gold (Frankfort, Mkt.) = Fl 42. ($17.02)
1828: 1 Ozt. Gold (Coined Friedr. d'Or, at purity) = Thlr. 23.3861
1828: 1 Ozt. Pt (Au 3x greater) ~ Thlr. 7.75
Of all metals, the commercial value of the platinum metals is second only to Gold. But until now, large fluctuations seem to have overtaken it. From advertisements here in Frankfurt, one now presumes the equivalent value 3 oz Platina approximately equal to 1 ounce of gold, or 15 ounces of silver. Thus, 1 Once refined Platinum should be sold for Fr. 30 to 35 in Paris. On the other hand, immediate news from from Paris reports: refined Platinum can be had for just Fr. 17-19 an once, and platina for Fr. 10 to 12 (ruinous!) Perhaps the striking difference between these statements is partly grounded in the degree or quality of purification.
Several factors explain how and why the Paris Platinum Price collapsed in 1828:
1) By Summer 1828, large amounts of smuggled Russian platina had reached Paris and even Frankfurt - oversupply afforded opportunities to new entrepreneur-producers in Central Europe.
2) News of even greater platina yields in the Urals (the first semester of 1828) reached Paris, depressing the refined market.
3) Existing merchant stock had been priced to reflect Platinum at earlier higher rates. New Platinum sold at half the Paris rate of 1825. Old Platinum sold at radical lower rates may ahve entailed some capital loss. Higher retail rates struggled and failed spectacularly, collapsing as cheaper platina was refined by more Platinum-workers.
4) By the Summer of 1828, advertisements appeared offering new product of native German precious metalworkers and instrument makers. Continental competition had arrived.
5) Competition forced established Platinum producers to reduce unmanufactured Platinum prices dramatically, in a sudden market collapse. A general liquidation ensued.
c. June, 1826: 1 Troy Oz. platina (Paris ore, retail) = Fr 15.24 (Fl )
c. September, 1828: 1 Troy Oz. platina (Paris ore, retail) = Fr 10.16 (Fl )
c. January, 1828: 1 Troy Oz. Platinum (refined) = Fr 35. (Fl. )
c. May, 1828: 1 Troy Oz. Platinum (refined) = Fr 30. (Fl. )
September, 1828: 1 Troy Oz. Platinum (refined) = Fr 17.27 - 19.30 (Fl. )
August, 1828: 1 Troy Oz. Platinum (Frankfort: intrinsic) ~ Fl 14.
Of all metals, the commercial value of the platinum metals is second only to Gold. But until now, large fluctuations seem to have overtaken it. From advertisements here in Frankfurt, one now presumes the equivalent value 3 oz Platina approximately equal to 1 ounce of gold, or 15 ounces of silver. Thus, 1 Once refined Platinum should be sold for Fr. 30 to 35 in Paris. On the other hand, immediate news from from Paris reports: refined Platinum can be had for just Fr. 17-19 an once, and platina for Fr. 10 to 12 (ruinous!) Perhaps the striking difference between these statements is partly grounded in the degree or quality of purification.
Citation: Das Münzwesen in Teutschland nach seinem jetzigen zustand: mit Grundzügen zu ...; Johann Ludwig Klüber (1828) p.212
Several factors explain how and why the Paris Platinum Price collapsed in 1828:
1) By Summer 1828, large amounts of smuggled Russian platina had reached Paris and even Frankfurt - oversupply afforded opportunities to new entrepreneur-producers in Central Europe.
2) News of even greater platina yields in the Urals (the first semester of 1828) reached Paris, depressing the refined market.
3) Existing merchant stock had been priced to reflect Platinum at earlier higher rates. New Platinum sold at half the Paris rate of 1825. Old Platinum sold at radical lower rates may ahve entailed some capital loss. Higher retail rates struggled and failed spectacularly, collapsing as cheaper platina was refined by more Platinum-workers.
4) By the Summer of 1828, advertisements appeared offering new product of native German precious metalworkers and instrument makers. Continental competition had arrived.
5) Competition forced established Platinum producers to reduce unmanufactured Platinum prices dramatically, in a sudden market collapse. A general liquidation ensued.
c. June, 1826: 1 Troy Oz. platina (Paris ore, retail) = Fr 15.24 (Fl )
c. September, 1828: 1 Troy Oz. platina (Paris ore, retail) = Fr 10.16 (Fl )
c. January, 1828: 1 Troy Oz. Platinum (refined) = Fr 35. (Fl. )
c. May, 1828: 1 Troy Oz. Platinum (refined) = Fr 30. (Fl. )
September, 1828: 1 Troy Oz. Platinum (refined) = Fr 17.27 - 19.30 (Fl. )
August, 1828: 1 Troy Oz. Platinum (Frankfort: intrinsic) ~ Fl 14.
July 1828: 1 Troy Oz. Pt (Nuremberg semi-mfg, retail) ~ Fl 29.75 - 34.
July, 1828:
The last Ural caravan of 1827, bearing a massive load of platina, arrived in St. Petersbourg in Late March, 1828. This information was re-published as noteworthy in Stuttgart on July 4, 1828 - the massive Platinum yield was becoming common knowledge.
The (Lvov) Lemberger Zeitung April 28, 1828 reported news from St. Petersbourg 23 days later; SPb news reached London and Paris in days, respectively. News of the Battle of Navarino (20 October 1827) reached SPb by land in mid-January 1828, 3 months later.
A few days ago here, the caravan with the gold-and platinum-yield from the Urals, which has been won in the second half of 1827 has arrived. The quantity of these metals has brought the following:
... Platina B. 1) From the crown-and gold-bearing deposits, together "1 pood., Pf 2, 79 Sol., 24 Th '2) From private works and gold washings "9 poods. Pf 8, 12 Sol." Total yield of Platina "Pud 10., 10 Pf, 91 Sol., 24 parts." This quantity, together with that in the first half of the year 1827 are derived from the yield ... at Platina Kronmerken "2 pood., Pf 7, 25 Sol., 24 Th '; Of private works. "23 poods, 23 lbs, 40 Sol, 48 Th." together "Pud 25. 30 Pf, 65 Svlotnik, 73 parts."
Where 1 Loth Nürnberg = 17.5 g., sold at Cash-rates (Rheinish Gulden)
7/1828: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = Fl. 21.3281
7/1828: 1 Troy Oz. Platinum (Fine Wire, Ret.) = Fl. 28.4375
7/1828: 1 Troy Oz. Platinum (Sponge?, Ret.) = Fl. 28.4375
7/1828: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = Fl. Rh 23.40 (Preuss. Thlr. 13.)
7/1828: 1 Troy Oz. Platinum (Wire/Medium) = Fl. Rh 27.30 (Thlr. 15.17)
7/1828: 1 Troy Oz. Platinum (Wire/Fine) = Fl. Rh 31.20 (Thlr. 17.33)
7/1828: 1 Troy Oz. Platinum (Sponge, Ret.) = Fl. Rh 31.20 (Thlr. 17.33)
Dated mid-July, 1828:
Platinum Foil, per Book (252 Sheets) = Fl. Rh. 6. (Thlr 3.33)
Platinum Wire, Finest, per Loth = Fl. Rh. 16.
-- Medium, per Loth = Fl. Rh. 14. (Thlr 7.77)
-- Heavy, per Loth = Fl. Rh. 12. (Thlr 6.66)
Platinum Powder = Fl. Rh. 16. (Thlr 8.88)
Citation: Archiv für Chemie und Meteorologie, Vol. 14; Ed. Karl W. G. Kastner (1828) p.162
July 1828:
July, August 1828:
Citation: Allgemeiner Anzeiger der Deutschen N.207 (8/1/1828) p.2294
Where 1 Loth Hannover/Göttingen = 15.3 g.
Late Summer, 1828:
Germany did not yet have an established and competitive industry like Paris; these may be the first advertised prices for for locally-produced metals. Prices soon fell dramatically; Platinum retailed for 2-3x the intrinsic or scrap value.
8/1828: 1 Troy Oz. Pt (Hannover: Scrap, Bid) = Thlr 7.11 (Fl. Rh. 12.81)
.... (USD$ )
8/1828: 1 Troy Oz. Pt (Semi/&Mfg., Ret.) = Thlr 9.15 (Fl. Rh. 16.47)
.... (USD$ )
8/1828: 1 Troy Oz. Pt (Mfg., trade) ~ Thlr 9.65 (Fl 17.38)
.... (USD$ )
Early July, 1828: 1 Troy Oz. Pt (semi-mfg) = Fl 29.75 -34. (USD$ 10.21-13.60)
1828: 1 Troy Oz. Platinum (est. retail) ~ Thlr 13.? (USD$ 8.89)
Advertised August, 1828:
The price of thick wire, sheet metal, large vessels and evaporating dishes is Thlr. 4.5 by the Loth. Small appliances, pots, spoons, spatulas and similar are sanded and polished, cost slightly more, as well as thin platinum foil for filling teeth.
Platinum scraps taken at Thlr 3.5 per Loth ; old platinumware we accept in exchange.
Göttingen, August 1828
Apel and Lüders, Mechanics
Citation: Allgemeiner anzeiger und nationalzeitung der Deutschen (1828) p.2442
The last Ural caravan of 1827, bearing a massive load of platina, arrived in St. Petersbourg in Late March, 1828. This information was re-published as noteworthy in Stuttgart on July 4, 1828 - the massive Platinum yield was becoming common knowledge.
The (Lvov) Lemberger Zeitung April 28, 1828 reported news from St. Petersbourg 23 days later; SPb news reached London and Paris in days, respectively. News of the Battle of Navarino (20 October 1827) reached SPb by land in mid-January 1828, 3 months later.
A few days ago here, the caravan with the gold-and platinum-yield from the Urals, which has been won in the second half of 1827 has arrived. The quantity of these metals has brought the following:
... Platina B. 1) From the crown-and gold-bearing deposits, together "1 pood., Pf 2, 79 Sol., 24 Th '2) From private works and gold washings "9 poods. Pf 8, 12 Sol." Total yield of Platina "Pud 10., 10 Pf, 91 Sol., 24 parts." This quantity, together with that in the first half of the year 1827 are derived from the yield ... at Platina Kronmerken "2 pood., Pf 7, 25 Sol., 24 Th '; Of private works. "23 poods, 23 lbs, 40 Sol, 48 Th." together "Pud 25. 30 Pf, 65 Svlotnik, 73 parts."
Where 1 Loth Nürnberg = 17.5 g., sold at Cash-rates (Rheinish Gulden)
7/1828: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = Fl. 21.3281
7/1828: 1 Troy Oz. Platinum (Fine Wire, Ret.) = Fl. 28.4375
7/1828: 1 Troy Oz. Platinum (Sponge?, Ret.) = Fl. 28.4375
7/1828: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = Fl. Rh 23.40 (Preuss. Thlr. 13.)
7/1828: 1 Troy Oz. Platinum (Wire/Medium) = Fl. Rh 27.30 (Thlr. 15.17)
7/1828: 1 Troy Oz. Platinum (Wire/Fine) = Fl. Rh 31.20 (Thlr. 17.33)
7/1828: 1 Troy Oz. Platinum (Sponge, Ret.) = Fl. Rh 31.20 (Thlr. 17.33)
Dated mid-July, 1828:
Platinum Foil, per Book (252 Sheets) = Fl. Rh. 6. (Thlr 3.33)
Platinum Wire, Finest, per Loth = Fl. Rh. 16.
-- Medium, per Loth = Fl. Rh. 14. (Thlr 7.77)
-- Heavy, per Loth = Fl. Rh. 12. (Thlr 6.66)
Platinum Powder = Fl. Rh. 16. (Thlr 8.88)
Citation: Archiv für Chemie und Meteorologie, Vol. 14; Ed. Karl W. G. Kastner (1828) p.162
July 1828:
July, August 1828:
Citation: Allgemeiner Anzeiger der Deutschen N.207 (8/1/1828) p.2294
Durch
wiederholte Anfragen nach Platina, in Blattform und zu Draht gezogen, hat sich
Unterzeichneter veranlaßt gefunden, die erforderlichen Einrichtungen zur
Bearbeitung dieses Metalls zu treffen, und ist nun dadurch in Stand gesetzt, Platina in folgender Form
In Blättern von 2.5 Zoll lang und breit, das Buch zu 252 Blatt Fl 5.80.
Zu Draht gezogen (in der Dicke eines Menschenhaares) zu Fl.16., Fl.14., Fl.12.,
das Loth.
Auch
kann möglichst fein geriebenes
Platin für Maler ze. das Loth zu Fl.16 abgegeben warden. Bey dieser Gelegenheit
empfiehlt derselbe auch seine von ihm schön seit längerer Zeit angefertigten
Platinschwämmchen, zu döbereinerschen zundlampen, die er nach dem Zeugniß von
Sachverständigen in vorzüglicher
Qualität anfertigt, zu fernerer gefälligen Abnahme.
Briefe
und Gelder werden portofrey erbeten. Im Julius 1828. - G. A. B. Klingenstein
jun. S. 1166 zu Nürnberg
After repeated requests for Platinum, in sheet form and drawn to wire, the signatory
has found occasion to make requisite arrangements for the treatment of
this metal, and is now enabled to recommend Platinum in the following form and enabled to discharge the following in any quantity.
In
sheets of 2.5 inches long and wide, the book to 252 sheets Fl 5.80.
Drawn
to wire (in the thickness of a human hair) to Fl.16, Fl.14, Fl.12, the Loth.
It
is also possible to use finely grated platinum for painters. The Loth to Fl. On
this occasion he recommends his platinum sponges, which he has long since made,
to the same degree, which, according to the testimony of experts, he produces
in excellent quality, to a further pleasant acceptance.
Letters
and monies are requested postage-free. In July, 1828. - G. A. B. Klingenstein
jun. S. 1166 at Nuremberg
Where 1 Loth Hannover/Göttingen = 15.3 g.
Late Summer, 1828:
Germany did not yet have an established and competitive industry like Paris; these may be the first advertised prices for for locally-produced metals. Prices soon fell dramatically; Platinum retailed for 2-3x the intrinsic or scrap value.
8/1828: 1 Troy Oz. Pt (Hannover: Scrap, Bid) = Thlr 7.11 (Fl. Rh. 12.81)
.... (USD$ )
8/1828: 1 Troy Oz. Pt (Semi/&Mfg., Ret.) = Thlr 9.15 (Fl. Rh. 16.47)
.... (USD$ )
8/1828: 1 Troy Oz. Pt (Mfg., trade) ~ Thlr 9.65 (Fl 17.38)
.... (USD$ )
Early July, 1828: 1 Troy Oz. Pt (semi-mfg) = Fl 29.75 -34. (USD$ 10.21-13.60)
1828: 1 Troy Oz. Platinum (est. retail) ~ Thlr 13.? (USD$ 8.89)
Advertised August, 1828:
The price of thick wire, sheet metal, large vessels and evaporating dishes is Thlr. 4.5 by the Loth. Small appliances, pots, spoons, spatulas and similar are sanded and polished, cost slightly more, as well as thin platinum foil for filling teeth.
Platinum scraps taken at Thlr 3.5 per Loth ; old platinumware we accept in exchange.
Göttingen, August 1828
Apel and Lüders, Mechanics
Citation: Allgemeiner anzeiger und nationalzeitung der Deutschen (1828) p.2442
September, 1828:
Citation: Neues Journal der Pharmacie für Ärzte, Apotheker und Chemiker, Vol. 17 p.300
Spring news from Central America to Bavaria took 76 days; from St. Petersburg to Bavaria 19 days; from London 7 days; from Paris, 6 days.
1827: Platinum news from the Journal d'Odessa (Aug. 1827 No. 63) was reported in German scientific journals in Fall, 1828. The Russian price was current for August, 1827.
1827/8:
Citation: Journal für technische und ökonomische Chemie, Vol. 2, No. 3
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