March 30, 2011

Colombia, 1843/5

DSQ

Where 6,272.32 Troy Ounces were valued at S$ 29,440,
"...for 29,440 pesos silver ore for 18,264 pesos platinum (424 lbs 98 Castellanos)."

Where 424.98 Libras =7,765 Ozt @ C$ 18,264.8125

1843: 1 Troy Oz. platina (ore, 75%) = C$ 2.3524
1843: 1 Troy Oz. Pt (Colombian ore, .999) = C$ 3.1365

1843:  Republishing US data (not a German marc weight)  
Where = $6.25) C$ 1,473,906 was £ 235,825 at £ 4.2477 per ozt Fine Au, the Colombian Gold Yield was 55,518 ozt (~1,727 kgs) - therefore, platina was ~ 11.30% the Gold Yield.

Citation: Handbuch der erdkunde: Th. Handbuch der Lhander- und Staatenkunde von Asien ... Gustav Adolph von Kloeden (1846)p.958

In 1844, the Cartagena forex was £ 1. = C$ 5.30 - 5.40 & USD$ 4.80; US Federal Money was 10% more valuable than C$.  (There also appeared to be a huge discrepancy between the intrinsic value of local Gold Dust and foreign coin.)  The libra was 14.792 troy ounces, so in 1844, 6,271.81 English Troy Ounces were exported ; in 1845, 7,995 English Troy Ounces were exported.  The export price had risen 18.68% in one year.

1844: 1 Troy Ounce platina (Cartagena: ore) = C$ 2.91 (USD$ 2.64; £ 0.55)
1845: 1 Troy Oz platina (Cartagena:ore) = C$ 3.46 (USD$ 3.13; £ 0.65)
1844: 1 Troy Oz. platina (intrinsic) ~ C$  3.64 (USD$ 3.30; £ 0.69)

1845: 1 Troy Oz platina (intrinsic) ~ C$ 4.32 (USD$ 3.91 ; £ 0.82)

17,304.3 troy ounces of Silver ore were exported at ~ USD$ 0.54 per oz., less than half the US Mint rate for assayed pure metal.   

Citation: Commercial tariffs and regulations: resource and trade, of the ..., Parts 16-19; John Macgregor (1846) p.323








The USD$ apparently traded w/ 3-4% premium over the Colombian Silver Peso rate.

1843: 1 Troy Oz. Gold (Cartagena: Dust)  = C$ 16.90 - 17.71
1843: 1 Troy Oz. Gold (Cartagena: Dust)  = £ 3.38 - 3.58 (USD$ 16.22 - 17.20)





1843: Instability of platina price.



1843: Extensive contraband trade may have depressed platina prices.



1837:


1845: in exchange with the Belgian Franc, the value of the Colombian piastre/peso

1845: in exchange with the French Franc, the intrinsic value of the piastre/peso fuerte


1840: 1 Troy Oz. Gold (Colombia: Coined)  = USD$ 18.00
1840: 1 Troy Oz. Silver (Colombia: Coined)  = USD$ 1.158
 
Citation: A Treatise on Currency and Banking  ; Condy Raguet (1840) p.179
 



Circa 1848/9, perhaps earlier: In Leipzig Pfund/Center, where Colombia & Brazil annually produced 9,021 English Troy Ounces, Russia yielded 6.5x more platina.





Where 18,000 Spanish marcos = 9,000 libras and "years of peace" (1843-1825=18), the estimated annual Gold production of "New Granada" was 500 libras.



Rainy/Dry Seasons:

No comments:

Post a Comment