August 27, 2013

USA, 1833

Dr.? Erastus F. Cooke of Wethersfield, CT (close to Hartford) reported European Platinum Still prices from the Spring of 1833.

The Kepp platinum still held 136.383 liters; where boiler and syphon was £ 598.50 was taken at the USD was taken at a Silver Rate of 45.77 (USD$ 3,138.) ; at the Paper rate 54 pence, $2,660. This assumes Troy weight (495 ozt) but excludes any additional tariff, shipping & handling cost to New York.  Importation duty of boiler plates in 1833 apparently added 25%, plus any additional local delivery charges to the buyer. Unknown freight, insurance, etc: +5%?  Estimated NYC trade profit on a British still at the Paper rate, and competitive with reported French price plus duty = ~$247.50 or ~9.3% UK Price.

1833: 1 Troy Ounce Platinum (UK Mfg) = £ 1.20909 (USD$ 6.34; $5.37)  
1833: 1 Troy Ounce Platinum (NYC: Mfg +30% Cost) ~ £ 1.572 (USD$ 7.)  
1833: 1 Troy Oz. Platinum (imported Paris mfg @ NYC)  = USD$ 6.00  
1833: 1 Troy Oz. Platinum (NYC: Paris mfg still, w/duty)  = USD$ 7.50

  May, 1833:

 
Citation: The American journal of science, Vol. 26 No.1 (1834) p.211

 

Mail from London to NYC was 40-45 days, to Wethersfield CT ~48-50 days

  



F. & N.G. Carnes, of New York & Paris, established in 1820.

Francis G. Carnes of Paris. Nathaniel G. Carnes of NYC?
  

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