Germany, 1821

At J.V. Albert, Frankfurt semi-manufactured retail cost 30.2% more than Paris, suggesting  a merchant's discount and Paris origin for the wares.

1820/1: 1 Troy Ounce platina (Paris: Ore, Retail) = Fr. 15.25 (Fl. 7.512)
1820/1: 1 Troy Oz Platinum (Paris: Scrap, Ret.) = Fr. 15.25 (Fl. 7.512)
1820/1: 1 Troy Oz Platinum (Paris: Semi-Mfg, Ret.) = Fr. 2o.33 (Fl. 9.536)
1820/1: 1 Troy Oz. Platinum (Paris: Mfg, Ret.) = Fr. 24.40 (Fl. 11.443)

"I think the friends of Practical Chemistry in Russia's empire might find useful this communication of a price list for Platinum apparatus which I have just received from Frankfurt am Main, especially since I have been frequently observing platinum crucibles from France as followed.

Previously known to be manufactured by Janety the Younger in Paris (Rue Colombier, 21 and Rue Neuve de l'Abbaye 14, Faubourg Saint-Germain) are Platinum crucibles, evaporating basins, spatulas, funnels and various chemical equipment : Fr. 24. per Once ; Platinum foil and wire: Fr. 20. per Once ; and Platinum scraps and platina: Fr. 15. per Once. Also assumed to be observed the same at the Pharmacist Guilbert in Paris (Rue Dauphiné, No. 38). 

Here is the Price-List of Platinum-Apparatus just now sourced from Frankfurt a.M.  Mr. Albert has a great warehouse of sundry instruments, models, tools, and the like, shown in a complete list (of 96 pages in octavo) distributed.

Price-List of Platinum apparatus which Joh{ann} Val{entin} Albert has provisioned in Frankfurt; by request, any other arbitrary shapes are manufactured from platinum

Ich glaube den Freunden der praktischen Chemie im Russischen Reiche durch die Mittheilung des Preisverzeichnis von Platin geräthschaften welches ich eben aus Frankfurt a.M. erhalten habe, einen angenehmen Dienst zu leiften, besonders da ich öfterer um die Beforgung von Platine Tiegeln aus Frankreich ersucht worden bin.

Bekanntlich verfertigt bisher Jannnety d. jung. (Rue-Colombier, 21. und Rue Neuve de l'Abbaye 14., Faubourg Saint-Germain) zu Paris Tiegeln, Abrauchschaalen, Spatel, Röhren und verschiedene chemische Gerätschaften Platina die Unze zu 24 Francs; Platinblech und Draht die Unze zu 20 Francs und Platinschnißel und Platinsand die Unze zu 15 Francs. Auch übernahm die Beforgung derselben zu Paris der Apotheker Guilbert (Rue Dauphiné, No. 38).

Hier ist das Verzeichniß von Platin-Geräthschaften wie sie gegenwärtig aus Frankfurt a.M. zu beziehen find. Hr. Albert hat eine große Niederlage von mancherlen Instrumenten, Modellen, Werkzeugen und dgl. worüber er ein vollständiges Verzeichnis (von 96 S. in 8.) vertheilt.  

Verzeichniß der Platin-Geräthschaften welche bey  Joh. Val. Albert in Frankfurt vorrathig zu haben sind; bey dem auch nach Verlangen alle andere beliebige Formen aus Platin verfertigt werden.

{Assuming the Frankfurt Silbergewicht Loth : 14.616 g., and in Gold coin Fl. 1. = Fr 2.1322
1 Kg. Mfg Platinum, cost Retail: Fl. 478.94 = Fr. 1,021.19}

1821: 1 Troy Ounce platina (Frankfurt: Ore, Retail) = Fl. 10.6402 ($ 5.517)
1821: 1 Troy Oz. Platinum (Frankfurt: Scrap, Ret.) = Fl. 11.7042 ($ 6.07)
1821: 1 Troy Oz. Platinum (Frankfurt: Mfg, Ret.) = Fl. 14.8967 ($ 7.724)
1821: 1 Troy Oz. Platinum (Frankfurt: Mfg, Ret.) = Fl. 23.0211 ($ 11.94)


Citation: Allgemeine nordische Annalen der Chemie für die Freunde..., Vol. 8;  Alexander Nicolaus Scherer (October, 1822)



 

Platinum	Per Processed Loth, each Fl. 7		Volume	Weight	Price
1)	Crucible,       Large, viz.	with lids; or without lids, weighing in relation somewhat less	20	204.62 g.	Fl. 98.00
	Ditto		18	190.01 g.	Fl. 91.00
	Ditto		12	175.39 g.	Fl. 84.00
	Ditto,              Medium		11.5	146.16 g.	Fl. 70.00
	Ditto		9	124.24 g.	Fl. 59.50
	Ditto		5.5	93.18 g.	Fl. 44.63
	Ditto,              Small		3.5	76.73 g.	Fl. 37.63
	Ditto		2.5	54.81 g.	Fl. 21.00
2)	Evaporating Basins, large size		28	175.39 g.	Fl. 84.00
	Ditto		26	153.47 g.	Fl. 73.50
	Ditto		20	135.20 g.	Fl. 65.63
	Ditto		18	124.24 g.	Fl. 59.50
	Evaporating Basins w/spout, large size		20	138.85 g.	Fl. 66.55
	Ditto		16	95.00 g.	Fl. 45.50
	Ditto		7.5	65.77 g.	Fl. 31.50
3)	Retorts w/ cover &pipe, solder in gold			160.78 g.	Fl. 119.00
	Ditto			134.77 g.	Fl. 99.75
4)	Spoon w/wide handle, which also serves as spatula			31.06 g.	Fl. 14.87
	Ditto,  w/ shorter handle			21.92 g.	Fl. 10.50
	Ditto			14.62 g.	Fl. 7.00

USA, 1821

1822: 1 Troy Oz. Platinum (Vienna: Mfg, Jewelry Retail) = $         (Fl C.M. 26.745)


News from Russia to the Eastern Seaboard was ~ 2 months.

c. 1821: Platina was so expensive, it was not considered worth counterfeiting Gold for the effort.

Citation: Chemical instructor: presenting a familiar method of teaching the chemical... ; Amos Eaton (1822)

Platina wire recommended (and available) for New York college chemistry laboratories and lectures.

1821: Curious (dated) statement: 'platina cheaper than Silver'?

A Commercial Directory for the USA indicated the 1822 tariff for (Colombian) platina: 15%.

Citation: Commercial directory: containing, a topographical description... (1823) p.17
 


1820/1 Prices: 

UK, 1821: Price Approximation to Francs and Roubles

Circa 1820, the similarity of Paris & London prices appears to indicate a stable market for refined Continental Platinum, but that period was ending.  

In Pound Sterling, the Price of Gold stabilized in London to the 1800 level.

c.1821: 1 Troy Ounce Platinum (refined) ~ Fr 25. - 27.  (£ 1.05 - 1.15)
c.1821: 1 Troy Oz. Platinum (scrap)  = £ 0.6441 (USD$ 3.08)
 

The Russian assumed rate may have dated to 1821, prior to the cornered market or price-hike that mysteriously began in 1822.  It is by no means certain Platinum traded wholesale at this rate in 1821/2.

c.1821:  1 Troy Oz. coined Platinum = 9.31 Silver руб = 37.24 Banco руб
 ~£ 1.55

Citation: The Gentleman's magazine, Volume 143 By John Nichols (1828)  p.482

 

France, 1821: Paris Retail Prices

Writing in 1822, a German chemist in St. Petersburg confirms "Fr. 16. to Fr 24. per Once" represented retail prices for various forms of Platinum sold retail: ore, scrap, sheet and manufactures relevant to chemists. (Wholesale, trade and jewelry prices are unstated.) No other source indicate this address for Jeannetty and "Rue Neuve de l'Abbaye" had been renamed "Rue l'Abbaye" in 1815. (Presumably in 1821, Frankfurt semi-manufactured retail cost 30.2% more than Paris.)


1821: 1 Troy Ounce platina (Paris: Ore, Retail) = Fr. 15.25 (Fl. 7.512)
1821: 1 Troy Oz Platinum (Paris: Scrap, Ret.) = Fr. 15.25 (Fl. 7.512)
1821: 1 Troy Oz Platinum (Paris: Semi-Mfg, Ret.) = Fr. 2o.33 (Fl. 9.536)
1821: 1 Troy Oz. Platinum (Paris: Mfg, Ret.) = Fr. 24.40 (Fl. 11.443)

"I think the friends of Practical Chemistry in Russia's empire might find useful this communication of a price list for Platinum apparatus which I have just received from Frankfurt am Main, especially since I have been frequently observing platinum crucibles from France as followed.

Previously known to be manufactured by Janety the Younger in Paris (Rue Colombier, 21 and Rue Neuve de l'Abbaye 14, Faubourg Saint-Germain) are Platinum crucibles, evaporating basins, spatulas, funnels and various chemical equipment : Fr. 24. per Once ; Platinum foil and wire: Fr. 20. per Once ; and Platinum scraps and platina: Fr. 15. per Once. Also assumed to be observed the same at the Pharmacist Guilbert in Paris (Rue Dauphiné, No. 38).

Citation: Allgemeine nordische Annalen der Chemie für die Freunde..., Vol. 8;  Alexander Nicolaus Scherer (October, 1822)



In flux, the early 1820s witnessed turbulent Platinum prices.  In Colombia, new laws reintroduced a monopoly and export ban; in Russia, discoveries of major fields suggested new supply.  

As refined product prices rose by 33% from just 5 years earlier, retail prices for refined & manufactured Platinum showed greater breadth and supply & demand dislocations.  Although not clearly defined, the wide range likely reflects the incremental rise over the previous 5-6 years.

c. 1821/2: 1 Troy Ounce Platinum (refined) = Fr 16. - 24.  (USD$ 2.89 - 4.33)

c. 1821/2: 1 Troy Ounce platina in Paris  = Fr 5. - 6.  (USD$  0.90 - 1.08)

1820/1: 1 Troy Ounce Platinum (mfg, whols?) = Fr. 15. - 18. (USD$ 2.79 - 3.35) 

1819/20: 1 Troy Ounce platina in Paris  (crude, whols?) = Fr. 4. - 5.  (USD$ 0.73  - 0.91)

Citation: Traité élémentaire de minéralogie ; François Sulpice Beudant (1824), p.786.

1821: Uncertain, possibly translated price.

1822: In 1821, the price of Copper doubled in Paris.

Colombia, 1821: A Coinage Intent, Unfullfilled

A German merchant, writing in 1826, mentions the local platina price in 1821 and the dramatic price-hike.  Tomas C. Mosquéra was ~25 years old at this time; Joaquin Mosquéra a brother or cousin?

"In the real province there is also platina: I have several samples of most types, mixed with gold. To Taddo (Quibdo?) There are mines that give almost no metal other than Platina; to that, very little platina comes from the gold mines of Popayan. Taddo is by the San Juan River, also called Nuanamo, and up, not far from Novita, is a mine of Mr. Mosqueta, one of the richest men in Colombia, who owns several gold mines and several thousands (?) of negro slaves, whom he allows to process (his Gold.) - The aforesaid San Juan River, who pours into several branches, is about the 4th degree of north latitude from the peaceful sea and Boca de Viegas, behind the Cap Chirambira, now the most commonly used port, standing almost in conjunction with the Atrato River, and probably the ravine of Raspadura (mentioned in Stein's Geography) where a cura (Father) Cacao has embarked from the South-Sea to the Atlantic in canoes.

When I first came here 5 years ago (circa Spring 1821) a libra of platina  cost 2 Spanish {Dollars} and now it costs 10 dollars."

Citation: Columbus: amerikansiche Miscellen (1827) p. 18



Where 1 libra = 14.792 English Troy Oz., S$2./libra = 

1821: 1 Troy Ounce platina (Chocó: Source) = S$ 0.135208221
1826: 1 Troy Ounce platina (Chocó: Source) = S$ 0.676041103

At Chocó, S$ 1. @£0.2750,
 1 libra (S$2.) cost £ 0.483 in 1821.

At Cartagena, 1 libra (~S$ 2.85) cost ~£ 0.6888 in 1821.

September, 1821: The Colombian government quantified the intrinsic price of Platinum at "$4 an ounce."  That news reached secondary Continental markets in Europe by December 1821 or January, 1822.

French Platinum had sold ~$2.50/ounce (~Fr 13.5. ~£ 0.6888) in 1817; the price nearly doubled in peace-time.  Speculators likely became interested at this coinage news.

In Colombia, restrictions of the monopoly effectively put a S$6.-8./libra floor under the black market price.  With penalties & punitive costs factored, in 1822-5 platina presumably rose to S$8-10. (Piastres)  at the source, or S$16.-20. at Cartagena.  

Incidentally, the multa would have effectively cost an English trader £ 1.14 per Troy Ounce, an additional risk-factor to the British platina business. 

In Europe, with a three-four month delay in news to primary  markets, the Platinum Price began rising sharply by January 1822. 

1820: 1 Troy Oz platina (ore @ Choco)  ~ S$ 0.1521

1821: 1 Troy Oz platina (ore @ Choco)  = S$ 0.2704
December, 1821: 1 Troy Oz platina (ore @ Choco) = S$ 0.3380

Early 1821: 1 Troy Oz platina (Cartagena)  = S$ 0.41 

Late 1821 : 1 Troy Oz platina (Cartagena)  = S$ 0.54 

1821: 1 Troy Oz Platinum (refined)  = S$ 4.39

News in Europe, by mid-1822:

1821: The 1828 version of von Humboldt's seminal text had this telling revision: the platina prices was no longer "8 piastres on the spot" (1801's Specimen-Price) but "4-5 piastres."

A close friend of Boussingault, Joaquin Acosta had left the Popyan region for Bogota on 2 December, 1821; then, he left Bogota for Paris 11 October, 1825. The new price cited by von Humboldt was likely Acosta's recollection, dated to theColombian officer's departure from the vicinity of Choco in November, 1821.

Citation: Essai politique sur le royaume de la Nouvelle Espagne ; Alexandre de Humboldt (1828) p.156

Citation: Biografía del general Joaquín Acosta; Soledad Acosta de Samper (1901 ) p.74

Encyclopedias report or repeat prices woefully out-of-date: this 1829 edition was written in 1826, during the Colombian export ban on platina.  The cited low price matches another recorded by Capitan (1979?) for 1818, which is closer to Alexander Walker's 33 s. (c.1821?)

c.1820/1: 1 Troy Ounce platina (raw ore, in Colombia) =  £ 0.11 (USD$ 0.49)

Accum's Catalogue price for platina (1816/7) would indicate a 100% mark-up, far too low.  The retail price should have been 4-5x higher.

c.1817: 1 Troy Ounce platina (ore, in London) =  £ 0.25 (USD$ 1.15)

Citation: The London encyclopaedia, or, Universal dictionary of science, art ...edited by Thomas Curtis (of Grove house sch, Islington) 1829, p.647

France, 1820: Refined Platinum for (Military) Weaponry

Assuming Coin-Par in Silver (£ 1. = Fr. 23.25) and given a costly transport charge (Fr. 68.50/kg.), the Once rate for refined ingot offered by Cuoq, Couturier et Cie. would appear to be Fr. 16.30 (no mention of bulk discount at merchant-rate to a new client.) However, at the Fall 1819 London sight rate of Fr. 25.15,

1819: 1 Troy Oz Platinum (Paris: Ingot, Whols.) = Fr. 16.565 (Coin)

1819: 1 Troy Oz Platinum (UK: Ingot, Imported) = Fr. 18. (Merchant's Bill)
 
"Once platinum was no longer available from Wollaston, it would have been necessary for Troughton to seek further supplies from abroad, perhaps from France. A note recorded by Wollaston in 1820 shows that Cary acquired some platinum ingots from the firm Cuoq, Couturier et Cie., in Paris; the price charged was equivalent to 16s. 1d. an ounce, of which 1s. 10d. covered freight charges (38).


1820/1: 1 Troy Ounce platina (Paris: Ore, Retail) = Fr. 15.24
1820/1: 1 Troy Oz Platinum (Paris: Scrap, Retail) = Fr. 15.24
1820/1: 1 Troy Oz Platinum (Paris: Semi-Mfg, Retail) = Fr. 2o.32
1820/1: 1 Troy Oz. Platinum (Paris: Mfg, Ret.) = Fr. 24.38

"I think the friends of practical chemistry in Russia's empire might find useful this communication of a price list for Platinum apparatus which I have just received from Frankfurt am Main, especially since I have been frequently observing platinum crucibles from France as followed.

Previously known to be manufactured by Janety the Younger in Paris (Rue-Colombier, 21 and Rue Neuve de l'Abbaye 14, Faubourg Saint-Germain) are Platinum crucibles, evaporating basins, spatulas, funnels and various chemical equipment : Fr. 24. per Once ; Platinum foil and wire: Fr. 20. per Once ; and Platinum scraps and platina: Fr. 15. per Once. Also assumed to be observed likewise at the Pharmacist Guilbert in Paris (Rue Dauphiné, No. 38)"

Citation: Allgemeine nordische Annalen der Chemie für die Freunde..., Vol. 8;  Alexander Nicolaus Scherer (October, 1822) 





c.1819/20: 1 Troy Ounce Platinum (Intrinsic, Retail) = Fr 18.29 (USD$ 3.40)

A member of the School of Pharmacy, Guilbert had a retail dispensary on the 4e & 5e of 38, Rue Dauphine.

*) Platinum apparatus such as spoons, spatulas, dishes, forceps, crucibles, etc. can be gotten from Paris and London.  This glorious metal is now quite cheap in price.  In Paris, an ounce of refined platinum is currently 18 French Francs,  so you can contact Pharmacist Guilbert, Rue Dauphine, Nr. 38 in Paris (also in German, written letters, it is understood under proper safety performance, with respect to the payment.)  Also, Hr. Cuoq Couturier & Comp. Rue Richelieu Nr. 107 in Paris can deliver pure and beautifully crafted Platinum apparatus.

Citation: Vollständiger Inbegriff der Pharmacie in ihren Grundlehren ..., Vol.1, Johann A.Buchner, Achille Richard et al (1822) p.101



c.1820/1, Platinumware 3.33x the price of Silverware, at Jeannetty's.

Citation: Recueil de lois et règlemens concernant l'instruction publique, Vol. 6 () p.39


Presumably, a modestly rising price range for the previous five years.

1817-21: 1 Troy Oz. Platinum (Refined) = Fr. 15.24 - 18.29 (USD$ 2.84 - 3.40)

Citation: Dictionnaire de l'artillerie, Hermann Cotty (1822) p.337
 

1822/3?: 1 Troy Oz. Platinum (Refined) = Fr 31.

August 1820 - August 1822:

Citation: Frédéric Soret und Goethe: Correspondence
"...n'auroient point dû nous séduire par l'avance de la modicité du prix à commander plusieurs médailles en Platine... en marge de la lettre je puis les résoudre moi-même, le prix du platine est exhorbitant, il a augmenté de 18 francs par once en quelques mois puisque j'en ai acheté à Paris pour le G. Duc au mois d'Août à environ 31 francs l'once"

c. 1820:  Specific Gravity of Platinum was assumed to be 21.4: