Russia, 1838

1838: 1 Ozt. Platinum (SPb: semi-mfg)= 21.87664 руб Acc.   ~ 5.96 руб (Ag), = £ 0.981, Fr. 24.77, ℳ 13.33

1838: Platina yield: 121.953 Poud = 4,878.1 Funt = 64,225.8 Ozt. = 1,997.6 Kgs.



1823-38 (15 years) the platina reported produced was 1,259.1 pouds (20,624.87 kgs.), or 663,105 ozt.; reported production was ~1,375 kgs or 44,207 ozt.  At 80% purity, this amounts to exactly 1,100 kgs. pure Platinum, annually.

In the same period, the amount of Gold produced was 5,150.33 pouds (84,365 kgs.), or 2,712,397.5 ozt.  Only 24.45% as much platinum was produced as Gold, in these years.

In the same period, the amount of Silver produced was 18,005.9 pouds (294,946 kgs.), or 9,482,733 ozt.  Only 7% as much platina was produced as Silver, in these years.

Platina was only 5.16% of all precious metals produced in Russia in these years.  Silver was only 3.5x more common than Gold but 14.3x more common than platina; Gold was 4.09x more common than platina.

Citation: Commercial Statistics: A Digest of the Productive Resources,... ; John Macgregor (1846) pp. 752-5
 

In Pounds Avoirdupois (28,125 lbs. @£393,737 ; 410,200 ozt. @ £ £0.96), the  (21.88 руб./ozt) was clearly estimated.

122 Poud = 4,880 Funt = 64,251 Ozt. = 1,998.42 Kgs.


Apparently calculating English standard gold (11/12) against the avoirdupois Pound, with slight error ("14.37" ozt instead of 14.583 ozt per lb.), standard Gold is estimated £ 60.76 and platina £ 14.  Where Fine Gold should be £ 4.2273/ozt, Coined Platinum is

1824-38: 1 troy Ounce Platinum (coined) = £ 0.974 (21.72 руб Banco)
~ 4.72 руб Ag





Charles Henningsen is suspect, his account may be largely ghost-written and drawn on other writers.  It's especially strange he could be fighting a war in Circassia, and in London (writing a book simultaneously.) Otherwise, the work reads perfectly as a research project, devoid of personal anecdote or any travel experience.

The date for this Low intrinsic rate might suggest 1843/1844, but Platinum prices had already begun rising on world markets. The Silver price and Rouble forex offer a probable date for the Platinum Low, 1838 or 1839.  Also, Henningsenis probably quoting a local poud rate for ore, perhaps at the source; Platinum coins were, by contrast, refined metal.

(Unspecified Date, c. 1844?): 3 Silver руб = £ 0.4695 - 0.4805 ; ~ £ 0.4750
(Unspecified Date, c.1844?): 3 Platinum руб = £ 0.0750

1844: 1 Troy Ounce Silver (Coin) = £ 1.410 - 1.444

1844: 1 Troy Oz Platinum (Coin) = £ 0.2254

For the value of 3 руб  Silver, examining the intrinsic coin-metal Silver Rouble value in Pounds Sterling and Credit Rouble forex in Sterling suggest best dates.

1835: 3 Silver руб = £ 0.4673 ; 3 руб Banco = £ 0.1255
1836: 3 Silver руб = £ 0.4698 ; 3 руб Banco = £ 0.1264
1837: 3 Silver руб = £ 0.4636 ; 3 руб Banco = £ 0.1300
1838: 3 Silver руб = £ 0.4629 ; 3 руб Banco = £ 0.1325
1839: 3 Silver руб = £ 0.4727 ; 3 руб Credit Notes = £ 0.50
1840: 3 Silver руб = £ 0.4727 ; 3 руб Credit Notes = £ 0.4938
1841: 3 Silver руб = £ 0.4703 ; 3 руб Credit Notes = £ 0.478 - 0.493
1842: 3 Silver руб = £ 0.4654 ; 3 руб Credit Notes = £ 0.4648 - 0.482
1843: 3 Silver руб = £ 0.4634 ; 3 руб Credit Notes = £ 0.4648 - 0.4766
1844: 3 Silver руб = £ 0.4658 ; 3 руб Credit Notes = £ 0.4695 - 0.4805

c.1840: 1 Troy Ounce platina (Low: importer's bulk) ~ USD$ 2.60


Although his Silver Rouble estimate looks high (perhaps, account by premium on coin) Henningsen's stated value for the 3-Rouble Coin (£ 0.075) assumes 1 Kilogram Platinum was then worth £ 7.244 (151.52 руб A. > 44.57 руб Kr.) ; 1 Kilogram of Silver was then worth in London £ 8.54 - 8.71 

At that value (£ 0.075) per 2.42708333 Zolotnik, 1 Poud ~  £ 118.66

  

Citation: Revelations of Russia: or The Emperor Nicholas and his empire, in 1844, Vol. 2 Charles Frederick Henningsen

Where 60 pouds = 31,600 Troy Ounces, a high value might be estimated (perhaps at the global market price) 1825-1844, or for that years at local price.

1838: 1 Troy Oz. Platinum (intrinsic) < (Silver Rouble) 7.76 руб (£ 0.3481)

c.1840: 1 Troy Oz. Platinum (Russian mkt value) = £ 0.23 ($USD 0.83)

Rouble Value