UK, 1828: Uncertain Price

Estimation of valuation of the Russian platinum coin in mid-1828, 20% lower than market prices in 1826/7. Did the global price of Platinum recover ? A shortage of refined Platinum in London was rumored with a (momentary) high prevailing price in June, 1828.

In a December 1827 letter to Alexander Humboldt, Count Cancrin discussed possible values for the anticipated Rouble coinage in Platinum (confirmed September 1828.) As Finance-Minister, Cancrin should have been well aware of the trade value of platina in London and elsewhere: he cited the London Price Ratio of Platinum to Silver as 1:5 (presumably, 1826/7 prices.)

Cancrin cites (circa October 1827) a London bar-price is ~58% lower than the June 1828 bar-price in Galini's Messenger.

There's no evidence of a price surge and/or Platinum shortage in Paris in 1828. The Colombian authorities were selling platina or crude ingot by mid-1827. An enormous platina stockpile released by the Spanish govt to Breant was processed and for sale at ~Fr 27.50 per English Troy Ounce in Paris.

c. Summer, 1828: 1 Troy Oz. Coin Intrinsic (est.) = £ 1.10 (USD$ 7.66)

c. Summer, 1828: 1 Troy Oz. Platinum (London mkt) = £ 1.55 (USD$ 7.66)

c. Summer, 1828: 1 Troy Oz. platina (est.) = £ 0.42 (USD$ 2.07)

June, 1828

Citation: Bulletin universel des sciences et de l'industrie: Bulletin des sciences ...(1829) p.339

c. Summer, 1828: 1 Troy Oz. platina (est.) = £ 0.42 (USD$ 2.07)

c. Summer, 1828: 1 Troy Oz. Platinum (intrinsic) = £ 0.4946 (USD$ 2.44)

c. Summer, 1828: 1 Troy Oz. Platinum (refined, est.) ~ £ 0.75 (USD$ 4.75)

c. June 15, 1828: News of the Russian Platinum coinage reaches England.



"Michael Faraday’s Use of Platinum in His Researches on Optical Glass" Melvyn C. Usselman

There is no evidence that Wollaston continued to supply platinum to the Glass Committee after the one ingot was consumed, and for further work platinum was probably purchased from P. N. Johnson.  In his paper onthe subject Faraday mentions “the great expense of the material: the value of the plate in question [weighing 3.6 02.1 is about L6 10 s”.( I 9). This corresponds to a price of about 36 s.per oz., twice Cary’s usual selling price forWollaston’s platinum.

Fall or December, 1828:

Citation: The Athenaeum and literary chronicle, Vol. 1, Issue 64 (Jan. 14, 1829) p.30

c. November 1828?

1828: 1 Troy Oz. Platinum (Russian Coin value) = £ 1.10 (USD$ 5.43)

c.1828? London Market Price, intrisic, 5.25x Silver = £ 1.39 (USD$ 6.86)

Calculating different Sterling values for mined Uralian platina & gold, the 1827 producer value for ore was estimated.

1828: 1 Troy Ounce platina (estimation of ore value) = £ 0.42
1828: 1 Troy Oz. Platinum (Russian coin value) = £ 1.43 (USD$ 7.05)

1828: 1 Troy Oz. platina (ore @ St. Petersburg) = 21.87 руб = (USD$ 4.37)

1828: 1 Troy Oz. Platinum (semi-refined @ St. Pete) = 29.16 руб = (USD$ 5.83)

1828: 1 Troy Oz. Platinum (refined; ingot @ St. Pete) = 36.46 руб = (USD$ 7.29)

1828-40:

Where £1.00 = 23 Paper руб. and "3 рубли на серебро" = £0.475 and 11.16 Paper руб.,

1828: 1 Troy Oz. Platinum (Russian coined value) = 33.58 руб Paper
1829: 1 Troy Oz. Platinum (Russian coined value) ~ £1.45 (USD$ 7.05)
1829: 1 Troy Oz. Platinum (semi-refined @ St. Pete) = 29.16 руб = (USD$ 5.83)

In the USA during 1828, there was a 10% premium on British money.

Citation: The Literary gazette: A weekly journal of literature, science ...,Vol. 13 edited by William Jerdan et al. p.74

1828:

Late 1828 gossip:


1829:

In 1828, a single French Still weighed ~273 Ozt ("8.5 Kgs") had a capacity of 42 Liters.



From an 1829 ms. with recent information, c. 1826-8. The daily production was 20 carboys (= 757 Liters) @ 68 Kg. each = 1,361 Kg. = 1.36 metric tonnes, or {1.34 Tons?} 'Sulphuric Acid of commerce.'
 
Citation: Chemical Essays: Principally Relating to the Arts and Manufactures...; Samuel Parkes, J. W. Hodgetts (1830)

Ibid. p.232





Presumably, 1 carboy = 37.85 - 37.89 Liters


Presumably, 1 carboy = 37.85 - 37.89 Liters
c.1860


 c.1833: presumably, in error.
 
10 Scotch Gallons Whiskey = 35.811 English Gallons ; elsewhere, 36.0877 English Gallons
Where 1 English Gallon = 3.785 Liters; 10 Scotch Gallons = 135.6 - 136.6 Liters








c. November, 1828

Citation: The Jewelers' circular, Vol. 77, # 2 (1917) p55