Showing posts with label 1812. Show all posts
Showing posts with label 1812. Show all posts

February 18, 2014

Germany, 1812

To outfit a scientific glass laboratory at Jena, Goethe gave a summary of the supplies and purchases for the year 1812.  Item six on this list relates to platinum equipment costing a total of Rthlr 113.0626 ~ Fr. 412., which presumably included transport/handling costs.


1810/1: 1 Troy Oz. Platinum (Paris: Mfg, Ret.) ~ Rthlr 10.04 (Fr 36.6)

Finally he transferred the responsibility for the Dobereiner laboratory to his son Julius August Walter von Goethe (1789-1830), who had studied law at Heidelberg and Jena, and who became an indispensable assistant to his father. Part of the detailed instructions written to the son on 28th April, 1812, states:

“If the equipment arrives from Paris, the Court commissioner Ullmann has orders to send them to Prof. Dobereiner in Jena and hand the bill for them - which may be near 70 Rthlr [Reichsthaler] - to His Excellency der Geheime Rath von Voigt asking him to be so kind as to authorise it with the addition of the separate account.”
 

In a report to the main control agency dated November 22nd, Goethe gives a summary of the supplies and purchases for the year 1812. Item six on this list relates to platinum equipment costing a total of 113 Reichsthaler, 2 Groschen and 8 Denar, a Denar being equivalent to a Pfennig.



c.1812:  Platinum is manufactured in Germany

Citation: Allgemeine Handlungs-Zeitung: mit den neuesten Erfindungen und ..., Vol. 20 (1813) p.670


Herr Frick, Arkanift the Porcelain Manufactory in Berlin, has entered a new mode of proceeding to present the cleaned platinum in solid pieces. He says the same about the following:

If you have cleaned the crude platinum by dissolution in aqua regia and precipitating with ammonia, so it was difficult until now of the annealed Platinaniederschlag melted into a continuous whole or welded together to represent.


 

Baden Tariff 

November 7, 2011

Colombia, 1810-14: Platina Price Collapse

Colonial Escudos were counterfeited in Colombia as early as 1763, more common in the 1770s.  Purportedly "contemporary counterfeits" (c. 1806-1811?)

The Gold 8-Escudo should weigh 27.0674 grams. A fair example from 1807 weighed
27.04 grams. 


 8-Escudo Platinum Counterfeit: 36.5 mm x 1.5 mm; 26.68 Grams in almost uncirculated condition. 

Gilded, it should weigh slightly more: 185.95 Grains Gold would be required to weigh true.
 






A 2-Escudos coin in Gold should weigh 6.7668 grams.  This well-worn Platinum counterfeit, presumed contemporary and dated 1805, weighs 6.78 Grams.

This 2-Escudos Platinum forgery, dated 1801 and uncirculated weighs 6.72 Grams.



Assuming a Platinum metal weight of 6.75 Grams, the intrinsic value of a 2-Escudos Platinum forgery on 6/25/2009 was ~USD$ 255.; the numismatic premium was 361%.




The 1801 contemporary counterfeit 2-Escudos (Madrid Mint; FM assayer) Lot 42, Schaumburg Sale 6/25/2009 which sold for $1,092.50

 

From an 1825 source, von Humboldt describes the appearance of platina in the Mint at Popayan, circa 1809/10.  This may reveal a major discovery, an oversupply event, and/or  hint that colonial Platinum counterfeits were especially pernicious at that time.
 
Citation: Annalen der erd, völker- und staatenkunde ..., Vol. 7; Heinrich Karl Wilhelm Berghaus, Karl Friedrich Vollrath Hoffmann, Alexander von Humboldt p. (1826)


After 1810, the price of platina collapsed with the regional anarchy of insurrection, whereby individuals could freely dig and sell the mineral wealth of their lands.  Cuoq & Couturier imported large quantity of Spanish platina into France c.1811, and the price of refined Platinum fell by -50%. 


Citation: L'Europe et ses Colonies en Decembre 1819, Vol. 1; M. Beaumont de Brivazac (1820) p.219






















Citation: Des métaux en France: rapport fait au jury central de l'exposition ...  Antoine-Marie Héron de Villefosse, Antoine-Marie Héron de Villefosse (1827) p.52








May 18, 2011

UK, 1812: Iridium & Osmium

1812: 1 Troy Ounce Platinum (Wire: Cary retail) = £ 0.8751
1812: 1 Troy Oz. Platinum (Mfg: Cary retail) = £ 1.00

1812: 1 Troy Oz. Platinum (Wire: Accum retail) = £ 1.05
1812: 1 Troy Oz Platinum (Mfg: Accum retail) = £ 1.20

Although the spot-price platina in New Grenada was falling dramatically, the British retail price was stable.

Iridium ore was  still not well analyzed by 1826, but British samples from 1806 (of unknown provenance) date to the period of Accum's catalogue.  Iridium ore was 3x more expensive than platina. 

Refined and manufactured Platinum was 3x more expensive than platina at the intrinsic rate; labor & profit being a full 2/3rds the price.  

Citation:   Descriptive Catalogue of the Apparatus and Instruments. . . Manufactured and Sold by Accum and Garden (1812) p.53





Muriate:


Platinum forecepts were recommended as mineralogist tools at least as early as 1814.  
c.1812:






Assuming the same effort and margins only suggests the very lowest possible producer prices, where the far less rare and non-toxic Palladium was in fact retailing for ~ £ 24 ./oz.

1812: 1 Troy Oz. Iridosmine/Osmiridium (ore)  = £ 0.75 (USD$ 2.72)
1812: 1 Troy Oz. Iridium (intrinsic)  ~ £ 1.0 (USD$ 3.62)
1812: 1 Troy Oz. Osmium (intrinsic)  ~ £ 3.0 (USD$ 10.86)
1812: 1 Troy Oz. Iridium (refined)  ~ £ 3. (USD$ 10.86)
1812: 1 Troy Oz. Osmium (refined)  ~ £ 9. (USD$ 32.58

1812: 1 Troy Oz. platina (ore)  = £ 0.25 (USD$ 0.91)
1812: 1 Troy Oz. Platinum (intrinsic value, @ 75%)  ~ £ 0.33 (USD$ 1.21)
1812: 1 Troy Oz. Platinum (refined)  = £ 1. (USD$ )


1812: 1 Troy Oz. Palladium (Trade, Accum) = £ 4.85 (USD$ )
1812: 1 Troy Oz. Palladium (Trade, .999) = £ 5.4281 (USD$ )  
1812: 1 Troy Oz. Palladium (Est. Retail, Accum) ~ £ 5.82 (USD$ )
1812: 1 Troy Oz. Palladium (Est. Retail, Accum) ~ £ 6.5174 (USD$ ) 
 

The 1835 Davy Catalogue illustrates how much higher demand and/or costs were, in fact.  Iridosmine (ore) was twice as expensive as refined Platinum, and refined Iridium was 11.25x more expensive than the ore.  Iridium was 22.5x more expensive than Platinum; Osmium was 30x more expensive than Pt.

 
1835: 1 Troy Oz. Iridium (refined)  = £ 36. (USD$ 174.60)
1835: 1 Troy Oz. Osmium (refined)  = £ 48. (USD$ 232.80)
1835: 1 Troy Oz. Iridosmine (Native Iridium)  = £ 3.20 (USD$ 15.52)
1835: 1 Troy Oz. Platinum (refined,retail)  = £ 1.60 (USD$ 7.76)
1835: 1 Troy Oz. platina (ore)  = £ 0.90 (USD$ 4.37)


Citation:  The Annals of philosophy, Vol. 27 Ed. Thomas Thomson, Richard Phillips, Edward William Brayley (1826) p.17
 

 

Citation: Annales des mines: ou recueil de memoires sur l'exploitation..., Vol. 12 1826 p.326
 

French books were 70% - 100% more expensive in London.

The London price for 3 vol. set of a French title, £ 1.60 (Fr. 30.61 )


The Paris price for same 3 vol. presumably Fr 18. - 21. (£ 0.94 - 1.10)


The London price for 2 vol. set of a French title, £ 1.05 (Fr. 20.09)


The Paris price for same 2 vol. presumably Fr 10. - 13. (£ 0.52 - 0.68)



April 4, 2011

France, 1810: Gehlen's opinion

1809: 1 Troy Ounce Platinum (Producer's Price)  = £ 0.80  (Fr 16.)
1810: 1 Troy Oz. Platinum (refined, wholesale)  = £ 0.60  (Fr 12.)

1810: 1 Troy Oz. Platinum (mfg, retail) = Fr 36.57 (£ 1.8285; USD$ 7.84)
1810: 1 Troy Oz. Platinum (Scrap, Bid) = Fr 15.24 (£ 0.762; USD$ 3.25)
1810: 1 Troy Oz. Platinum (ore, retail?) = Fr 12.19 (£ 0.6095; USD$ 2.60)

c.1811: 1 Troy Oz. Platinum (pure, retail) = Fr 30.48 (USD$ 6.53)


Janetty's Platinum was more than twice as expensive as Wollaston's and not better.  Gehlen refers to crucibles purchased five years earlier (c.1806) and there is no mention of price fluctuations for Platinumware throughout this period nor evidence elsewhere.  Though notably different, Wollaston's and Jannetty's prices presumably remained consistent or range-bound for 1805-10, or the involved discussion makes little sense.  

 In 1810, the labor and profit for Paris Platinum was over Fr. 21 per Troy Ounce, an extraordinary markup that soon collapsed with Cuoq's massive importation in 1812.  

Ambiguously, the cited Paris High Price for platina/ore might refer to either a local shortage or the general commodity spike during the Continental Blocus (circa 1806/7); Wollaston never paid nearly so much for platina.  This seems to confirm a general French dependence of British merchants for the Colombian ore, but also suggests the Paris Price Collapse in 1812/3 was driven by reason altogether.  

Donald McDonald (1960) erroneously transcribes the Number 3>5 (a common typographic confusion with 19th C. documents)  quoting Gehlen : "Janety 'charges 56 francs per ounce and only pays 15 francs for old platinum' (33). He goes on to remark 'the difference is a little steep! Raw platinum can be bought in Paris for at most 12 francs per ounce' in 1812."

This peculiar printing and confusion of the numeral (3>5) occurs as late as the 1850s in some primary sources.  There's also no record of the refined price rising 20% ('36 Francs per Ounce') before a well-known Paris Price Collapse in 1813.  The unmanufactured refined Pt price was Fr 31./Troy Ounce in late 1810 or early 1811.


Citation: Journal de physique, de chemie, d'histoire naturelle et des arts, Vol. 75; François Rozier (1812) p.186


Allgemeine Handlungs-Zeitung: mit den neuesten Erfindungen und ..., Vol. 20 (1813) p.675
Citation: Jahrbuch der Chemie und Physik, Vol. 7 (1813) p.309

AF Gehlen:
" The chemist may be connected to Mr. Leithner consider more so than some now, and that at moderately price, a pot, etc. of platinum will be able to provide, where the opportunity is not as open to like, to let it come to much dear prices of Janety in Paris. In addition, I must note after several experiences, that Mr.Janety seems not to be very far advanced in the art of working the platinum , or at least, that the success of the exercise is not always the same. I found here in the physical cabinet in front of a platinum crucible, which has held for five years, virtually indestructible, even though he was constantly and heavily used, and not once has a bent rim. Others I received from him since then, have been nowhere near as good, and one of them, which was manufactured against the appointment without bending of the rim, got a few months to several places of the edge cracks, which are at least 0.5 inches hineinerstreckten. That Janety's not quite pure platinum Sey, is evident from its spec. Weight. I have a piece to a square Zain forged from pure platinum Wollaston near 2:25 oz weight. This showed me a spec. Weight of 21:04, a parallelepiped piece Janety'schen platinum, however, of more than four ounces of the hold only 20.01.
...
An even greater difference than in the purity is between price of platinum from Wollaston and Janetty.  From the former, it costs twelve shillings the ounce, the latter extracts 36 francs an ounce and credits scrap platinum only 15 francs.   The difference is a bit steep.  You could get crude platina in Paris up to 12 francs the ounce.  You thereby have enough to fix it yourself and yet still have extra metal. That mentioned above Janety's platinum I would not have if it had not been a most disgusting improvement of the given order that purified platinum purchased instead of raw platina."







Mr. Guyton Mouveau of the Institute. -1810. - The Platinum of Santo Domingo was identified in the sands of the River Jaki, in the foothills of Sibao in the eastern part of Santo Domingo, it is there found in small flattened grains, as observed in the gold sands of Choco, Santa Fe, The Peru, but they are usually a little bigger.  These sands also contain some gold.  We owe this knowledge to Mr. du Bizy, Surgeon-Major.  Some hectogrammes of ore, after having undergone a mild calcination, were washed under sulfuric aci, by Mr. Jannety, and they revealed a few flakes of gold.  Société Philomathique, 1810, page 77.  Annales de chimie, same year, Volume 73, page 334. 




February 10, 1810:

M. Janety has presented to you:
( 1 ) Ten platinum medals of the same diameter but of different types.
(2) A bucket shaped vessel 189 millimetres in diameter and 135 millimetres deep
that has been flattened and hammered until it weighs only 160 grammes.
(3) A retort with neck capable of holding 1 litre and weighing only 800 grammes.





February 1810: Platinum was predicted to become 25% the Price Of Gold in a few years.

 The Platinum just found in Spain and Santo Domingo is becoming more common every day in trade and which must necessarily diminish value; we can, from this, think {Platinum} in the next few years will be in ratio less than  1 to 4 the price of gold.






Aaron Burr, resident in Paris, went to Janetty's for Platinum for a dental operation with Dr. Nicholas Fonzi.  Patients purchased their own Platinum and deposited 'in kind' with the illustrious dentist.  In all likelihood, the same amount of Platinum wire required for each tooth.


 
December, 1810:

Citation: The private journal of Aaron Burr, during his residence of four years in Europe,  Vol. 2;  Aaron Burr, Matthew L. Davis




London, 1812: Burr apparently bought Platinum at the shop of Percival Johnson (Maiden Lane, Wood-Street) for repairs to Fonzi's Platinum denture.









May 20, 2010

UK, 1812-30: The Price Level of Unmanufactured Platinum


Citation:  Descriptive Catalogue of the Apparatus and Instruments employed in Experimental and Operative Chemistry, in Analytical Mineralogy, and in the pursuits of the Recent Discoveries of Electro-chemical Science (London: Accum & Garden, 1812)




 
c.1815?

April 29, 2010

France, 1812: High Price Level Persists

1810: 1 Troy Oz. Platinum (manufactured, retail) ~ Fr 36.57 (~£ 1.80, USD$ 7.74)
1810: 1 Troy Oz. Platinum (UK: mfg, retail) ~ Fr 20.38 (£ 1.0)

1811: 1 Troy Oz. Platinum (Paris: unmfg) = Fr 31.1 (~£ 1.75, USD$ 6.67)
1811: 1 Troy Oz. Platinum (UK: wire) ~ Fr 22.25 (£ 0.80)

1812: 1 Troy Oz. Platinum (Paris: wire) = Fr 30.48 (~£ 1.61; USD$ 6.51)
1812: 1 Troy Oz. Platinum (UK: wire, Cary retail) = Fr 16.25
1812; 1 Troy Oz. Platinum (UK: wire, Accum retail) = Fr 20.10
1812: 1 Troy Oz Platinum (Mfg: Accum retail) = Fr. 22.96

1811/2: 1 Troy Oz. Platinum (mfg, retail) ~ Fr 36.57

1813: 1 Troy Oz. Platinum (mfg, retail) = Fr 31.103 

Dated 17 February, 1812:
Citation: Bulletin de pharmacie, Vol. 4 Université royale de France; (1812)  p.310





Platinum industrial manufactures typically sold for  Fr. 36./oz. in 1811.

1812: 
1st Vase = Fr. 2,911?
14.57 Inches Dia., 10.04 In. deep.
2.476 Kgs (79.605 Ozt.), so 3.6184 Ozt/per Litre

2nd Vase = Fr. 2,067?
12.795 Inches Dia., 9.252 In. deep.
1.758 Kgs (56.521 Ozt.), so 3.5326 Ozt/per Litre 


 
Citation: Bulletin de pharmacie, Volume 4; Vol. 1812 By Université royale de France p.310



Platinum pens sold for Fr 6. (S$ 1.14) in mid-1812:





In 1811/2, Cuoq, Courturier & Cie. imported a large quantity of platina and founded a factory with M. Bréant (employing Wollaston's refining process) to mass-produce platinum wares.  That Platinum came to market after 1813, a lag-time that was half the duration of the Wollaston effort (1800>1805.)

The French joint venture so successfully cornered the platina market that Wollaston was himself was driven out of the business by 1820. In France, this period of oversupply (1814-22) technically lasted until 1825, although other factors began elevating the French price-level c.1826.


Citation: Traité des gîtes minéraux et métallifères: recherche, étude et ..., Vol. 2, Edmond Fuchs, Louis Launay (1893), p.995


Platinum was confirmed in Brazil c. 1809, reported c. 1811 and well-known by 1812.  That discovery may have greatly diminished any speculative pressure, and encouraged Colombian hoarders to begin dumping platina. 

c.1810: 
Citation: Voyages dans l'intérieur du Brésil, particulièrement..., Vol. 2 ; John Mawe, J.-B. Benoît Eyries, G. Lemaître (1816) p.