February 14, 2011

Colombia, 1851: Export Price

Assuming the rate of S$ 60./libra, the estimated annual export of platina (circa 1852) was 2,000 libras or 920 kgs (29,578 ozt.)  The Colombian Source Price for platina was Fr 608.6/kg and the Export Price was less than 5% higher, Fr 641 - 652. (Fr 801.5 - 815.1 Pt at purity.)   Circa 1851 at the source, Platinum was about one-fifth the price of Gold.

1850: 1 Troy Ounce Platinum (USA: semi-refined? imported) = USD$ 6.10
1851:  1 Troy Oz. Platinum (mkt, mfg?, retail) = USD$ 15.00

1851: 1 Troy Oz. platina (Source: 80% ore, wholesale) = S$ 3.786

1851: 1 Troy Oz. platina (San Buenav.: ore, whols.) = S$ 3.99 - 4.05  (Fr 19.20)
1851: 1 Troy Oz. Pt (Colombian, .999) = S$ 4.99 - 5.07

1858: 1 Troy Oz. Gold (Chocó : ore, .916) = S$ 21.09 
1858: 1 Troy Oz. Au (Colombian, .999) = S$ 23.
Despite its apparent insignificance, this village has some commercial importance, owing to its free port status. San Buenaventura is indeed the trading-post of all gold and platinum all that is taken from lavaderos (i) of Choco, one of the most interesting provinces of New Granada. At this point, they annually export nearly S$ 800,000 {in Gold} and S$ 120,000 to 130,000 of {Platinum.} On the site where its found, platina sells for S$ 56./libra ; but on the coast you pay from S$ 59. to 60. for the same amount. We should not judge the relative scarcity of these metals by the figures I have given: platina is indeed very abundant in many parts of the Choco, but labor is too rare for one is profit to be used for this extraction; also a large part of which is exported it comes from gold washings. Both metals occurring almost constantly associated, the same operation used to isolate. Gold Choco is less than 20 carats.

Citation: Voyage dans le Nord de la Bolivie et dans les parties voisines de Pérou ou ... H. A. Weddel (1853) p.39


1851 - : 1 Troy Oz. Gold (ore, whols.) = S$ 11.83

1851 - : Massive discoveries in California and Australia would have depressed the global price of Colombia Gold ore.

A staggering number of European mining cncerns went bankrupt, pursuing disastrous Colombian Gold projects.

Citation: The republic of Colombia: an account of the country, its people, its ... By Francis Loraine Petre

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