Colombia, 1893

In 1893, at the Peso Exchange rate (USD$ 0.613) the relative value of the Colombian precious metals export or Au/Pt/Ag Ratio was 1: 1.68: 26.19 but Pt was just 2.87% of the Gold Yield.  At export prices, the Platinum/Silver Ratio was 1: 15.574 in Cartagena.

1893: 1 Troy Ounce Gold (Colombia: Ore) = USD$ 12.555
1893: 1 Troy Oz. Silver (Colombia: Ore) = USD$ 0.4793

Apparently referencing Colombia 1893 by Clímaco Calderón and Edward E. Britton, p. 96:

"At present the annual output is about 125 kilos, worth about [C$]38,000. Mr. Charles Bullman, in The Mineral Industry, estimated the total output of Colombia at from 16,000 to 20,000 kilos, worth at present [USD$] 3,840,000 to $4,800,000."  

This suggests the current US refining cost was ~ USD$ 0.39 per troy Ounce. (See Bullman for discussion.)

1893: 1 Troy Oz. platina (Colombia: Ore, 82%) = USD$ 5.796
1893: 1 Troy Oz. Platinum (Colombian ore: .999) = USD$ 7.07
1893: 1 Troy Oz. Platinum (Mkt: Colombian Pt) = USD$ 7.465
1893: 1 Troy Oz. Platinum (US Refining Cost) = USD$ 0.39

USA, 1893: 1 Troy Oz. Platinum (NYC: scrap, retail) = USD$ 9.50 
1893: 1 Troy Oz. platina (California: Spot, intrinsic) ~ USD$ 8.62 
USA, 1893: 1 Troy Ounce Platinum (semi-mfg, whols./ret.) = USD$ 11.51

Citation: American Gas Light Journal, Vol. 61 (9/3/1894)






Colombia: a commercial and industrial handbook ;  Purl Lord Bell, Bureau of Foreign and Domestic Commerce (1921) p.97