Colombia, 1828

The Colombian Treasury had been accumulating platina since 1821. Cost-basis and total reserves are unknown, but these numbers are broadly consistent with the Paris market price ratio relative to prior years.

Where the castellano weighed 70.935 English Troy Grains (~0.14778 Troy Ounce),

June 1, 1827 - June 30, 1828, where 885.48 English Troy Ounces (27.54 kgs.) @ S$ 600.

Fiscal Mid-Year 1827-28 : 1 Troy Oz. platina (Colombian Treasury) = S$ 0.6776

Citation: Gaceta de Colombia, No. 347, 24 August 1828:

March, 1828: 21,343.9 castellanos = 3,154.2 Troy Ounces.

Citation: Gaceta de Colombia, No. 347, 18 May 1828:

1828/9: As no Platinum coins were issued from Colombia, 'platina en especie' must refer to crude ingot.  In 1827/8, the refining cost alone was estimated at S$ 0.41 per Troy Ounce, well above the value cited here.

In June 1828, the Colombian Treasury held 3,847.6 Troy Ounces (or 199.68 kilograms) but sold 160.1 libras (2,368.2 Troy Ounces or 73.66 kgs.) for S$ 633., at an average price of:

July 1, 1828-June 30, 1829: 1 Troy Oz. platina (ore at ~75%?) = S$ 0.2673 
1828: 1 Troy Oz. platina (Chocó 75% ore at purity) = S$ 0.3564
1828 : 1 Troy Oz. Pt (est. Refining Cost) = S$ 0.41
1828: 1 Troy Oz. Platinum (Est) = S$ 0.7664

January 1828: Ore @ ~S$ o.369

February 1828: Ore @ ~S$ o.362

March 1828: Ore @ ~S$ o.360

April 1828: Ore @ ~S$ o.333

May 1828: Ore @ ~S$ o.326

June 1828: Ore @ ~S$ o.327

July 1828: Ore @ ~S$ o.3175 
August 1828: Ore @ ~S$ o.3158
September 1828: Ore @ ~S$ o.380

October 1828: Ore @ ~S$ o.295

November 1828: Ore @ ~S$ o.275
 December 1828: Ore @ ~S$ o.265

Citation: Gaceta de Colombia, Issue 425, 9 August 1829

Mid-August 1828 : 1 Troy Oz. platina (Colombian Treasury) = S$ 1.081477
Mid-August 1828 : 1 Troy Oz. platina (w/Export Cost) = S$ 1.14907
....  £ 0.25854, Fr. 6.0326, USD$ 1.2168


1828: where 1 libra @ S$17. = £ 3.825, Fr. 89.25, USD$ 18.00 (premium on Spanish specie & Silver, factored) so 1 Kilogram @ S$ 36.94, £ 8.321, Fr 193.95, USD$ 39.12

OTHER. The current day (12 August 1828) in the Treasury of the City Government House at the corner of Calle Florian, opposite the University, with its salesroom. Also auctioned some pounds of platinum, priced not be less than 16 Pesos/libra, and most buyers must also pay for the export duty per libra weight.  Individuals who want to bid may come with cash at 11:00 in the morning  until 12:30, when the auction closes.

Citation: Gaceta de Colombia, Issue 425, 9 August 1829



By a Decree of 14 March, 1828, platina was exported at the tariffed rate of S$ 1. per libra.

From a decree by March 14, 1828, the following changes and additions have been made to the above Decree:
{...}Platinum. Purification and mint platinum could not be carried out until now, the prohibition of platinum output, delivered by Art. 5 of the Act of March 13, 1824, is revoked. Therefore, it can be exported through the specific duty of one piastre per libra.

Citation: Archives du Commerce, ou Guide des commerçans, recueil de tous ..., Vol. 9-10



By a Decree of 23 December, 1828, platina was exported at the rate of S$ 2. per libra.



1828: Gabriel-Pierre Lafond de Lurcy describes how inland traders with Guayaquil used gold dust & platina as currency. The value of platina was therefore a great concern to locals, who sought to understand the commodity's demand in distant markets.

Citation: Voyages autour du monde et naufrages célèbres, Vol. 2 ; Gabriel Lafond de Lurcy


A lavadero might find 1-2 castellanos (S$ 2. - 4.) of Gold dust per day:

1828 : 1 Troy Oz. Gold (Source: Chocó ore) = S$ 13.52 (Fr 67.60)





Berzelius' analysis of Chocó (Barbacoas) ore.

With ports-of-call, shipping time from Cartagena to New York was ~5-7 weeks.  The direct route was 3 weeks.