Colombia, 1829

1829: Gold Coin:  Ozt. = 44,130 Ozt. = 1,372 Kgs.
1829: Est. Gold yield: ~ 53,366 Ozt. = 1,660 Kgs.
1829: Est. Platina yield: ~ 17,607 Ozt. = 547.63 Kgs.

Austria, 1829

DSQ

{Beware inconsistency: although printed in Nuremburg, Bavaria, Batka's 1829 Prag Catalogue most likely cites standard Austrian Commercial (Handelgeweight) prices.  Catalogues printed for retail elsewhere may include other, different weights!}

(Austrian) Handelsgewicht Unze .........    1.12528 Ozt.
(Austrian) Handelsgewicht Loth ...........  0.56264 Ozt.
(Austrian) Handelsgewicht Drachme .... 0.14066 Ozt.
(Austrian) Handelsgewicht Gramme ....  0.03517 Ozt.
(Austrian) Handelsgewicht Gran ..........  0.00257 Ozt.

In 1829, Druggist Wholesaler W. Batka in Prague sold Platinum Wire/Sheet by the Standardized Austrian Commercial "Loth" {= 17.5 Grammes} for Gold Fl. 10, so


1829: 1 Troy Ounce Platinum (Semi-Mfg: Wire/Sheet)  Fl. 17.77 ($ 7.83)

Mid-August 1828: 1 Troy Ounce platina (@ Bogota) = Fl. 2.380/ Rh Thlr 1.587
  At Prag Retail/Ozt (Fl 632.26) 1 Kilogram Russian Ore (81% Pt, 11% Rh, 1.6% Pd) net retail value for all PGMs: ~ Fl 1,082. - 1,113. (assuming 1822 rates)

At the SPb Mint (1827 price: Fr. 623.) the same Kilogram of Ural platina cost Fl. 245, ~four times less.

26.0 Ozt Platinum = Fl 462.64
3.5 Ozt Rhodium = £ 53.0 = Fl 499.-530.5
0.5 Ozt Palladium = Fr. 304. = Fl. 119.85 

1829: 1 Troy Ounce platina (Prag: Colombian Ore) = Fl 8.863
..... £ 0.9194, Fr 22.60, ℳ 12.21, USD$ 4.36
   
1829: 1 Troy Oz. platina (Prag: Ru Ore, retail: 80%) = Fl 14.18
..... £ 1.47, Fr 36.17, ℳ 19.54, USD$ 6.97

1829: 1 Troy Oz. Platinum (Prag: Refined, retail) = Fl 17.765  
..... £ 1.843, Fr 45.31, ℳ 24.47, USD$ 8.74

1829: 1 Troy Oz. Platinum (Prag: Mfg, retail) ~ Fl 27.371
..... £ 2.853, Fr 70.14, ℳ37.88, USD$ 13.46

(Abdampfschale) - Evaporating Capsule of solid Platinum plate, reinforced with copper.   

Impossible to determine the exact Platinum-weight of this article; the Silver 'Evaporating Boiler' (Abdampfkessel) may have been a different, heavier object; the Platinum Dish was 2.5x the Silver.  Assuming the capsule actually 6 zoll-durchmesser (Radius = 1.38197655 Zoll) or 15.8040 cm² (Radius = 2.2428933 cm) the basin would approximate the diameter of contemporary AR Thaler of Franz II (42mm).
 
Schmelztiegel - Platinum 
Crucible with cover, Capacity : 1 Fluid Ounce ( 29.6 cc  ~25 gr.) = Fl. 25 (£ 2.79)
Crucible w/cover .....................  2 Fluid Ounce ( 59.2 cc  ~50 gr.) = Fl. 35
Crucible w/cover ...................... 3 Fluid Ounce ( 88.7 cc  ~70 gr.) = Fl. 45
Crucible w/cover ...................... 4 Fluid Ounce (118.3 cc ~100 gr.) = Fl. 55 

Tiegelchen und Schälchen zum ausglühen - Platinum 
Pots and Bowls for Refining = Fl. 10. - 12.

Löffelchen zu Löthrohrversuchen
Spoon for Blowpipe = Fl. 2.5 - 3.

Löthrohrspitze nach harkort massiv
Grand Blowpipe w/ massive stem = Fl. 2.5

Spatel (auch als zange zu gebrauchen)

Spatula (to use as pliers) = Fl. 12. - 15.
Ditto, with iron handle = Fl. 6.. 

Taschenmesser mit Platinklinge
Pocket knife with Platinum blade = Fl. 12.

Wagschalen, zu einer Granwage das Paar
Scale Balance, to a Gram weight = Fl. 8. - 10.

Platinafolie, Drath und Blech das Loth
Platinum Foil, Wire and Sheet, per Loth = Fl. 10.
c. 1829: 1 Troy Oz. Platinum (producer's mfg) = Fl C.M. 11.04 (Fr 28.44) 
March, 1829: 1 Troy Oz. Platinum (Sponge, mfg) ~ Fl 15.20 (£ 1.60)  

1835: 1 Troy Oz. Silver (Prag: Refined, retail) = Fl C.M. 3.545
..... £ 0.3697, Fr 9.137, ℳ 4.683
 
1835: 1 Troy Oz. Palladium = NA.
1835: 1 Troy Oz. Rhodium = NA.


Citation: Verzeichnis der neuesten Chemischen und Pharmaceutischen Geraethschaften: mit Abbildungen. Wenzel Batka. (1829) 
 




























Where 1 Wiener Apotheker Pfund = 5760 Gran, 1 Unze weighed 480 Gran (35 Grams) = 1.1253 English Troy Ounces; 1 Kilogram = 1,3714 Gran; 1 Ozt. =  426.5530753 Gran, 0.88865 Unze.

  



"W. Batka" = Wenzel Batka in Prague, c.1794
1802, 1811, 1814:















"W. Batka" = Johann Baptist Batka, c. 1820.


 
1824: Advertising Platinum


c.1834/5

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.

Austria, 1828

Where 1 Prague Loth weighed ~16.08 g.,  

1828: 1 Troy Oz. Platinum (Prag: Mfg, Retail) = Fl. 23.2135
1828: 1 Troy Oz. Platinum (Prag: Semi-Mfg, Ret.) = Fl. 19.345
1828: 1 Troy Oz. platina (Prag: Ural Ore, Ret.) = Fl. 15.4756
1828: 1 Troy Oz. platina (Prag: Colombian Ore, Ret.) = Fl. 9.6723

Late 1828, Early 1829?:

Citation: Archiv für Chemie und Meteorologie, Vol. 15;  Karl Wilhelm Gottlob Kastner (1828)





Where 1 Kilogram Colombian platina at Bogota = Fl. 76.50/ Rh Thlr 51.

Mid-August 1828 : 1 Troy Ounce platina (@ Bogota) = Fl. 2.38/ Rh Thlr 1.59
1828: 1 Troy Oz. platina (UK estimation) = Fl. 4.16/~Rh Thlr 2.77

1828: 1 Troy Oz. platina (SPb: ore) = Fl. 9.30/ Rh Thlr 6.20
1828: 1 Troy Oz. Platinum (SPb: semi-mfg) = Fl. 15.50/ Rh Thlr 10.33

Summer 1828?: 1 Troy Oz. platina (Paris: whols.) = Fl. 2.-2.41/Rh Thlr 1.33-1.60
Summer 1828: 1 Troy Oz. platina (Paris: ore, retail) = Fl. 4.-4.81 
Summer 1828: 1 Troy Oz. Platinum (Paris: sponge) = Fl. 6.41
Summer 1828: 1 Troy Oz. Platinum (Paris: Sheet) = Fl. 9.62


Cost of Silverwork:

 
 
1827/8 Forex






1827:




.......

Russia, 1824-30: First Stage of Russian Platinum Production

Even to contemporaries, the valuation of Platinum in 1824-28 was problematic, uncertain, sometimes incorrect. In the comment about the St. Petersburg Price Drop, the Russian Platina Price Peak may be dated to November-December, 1825.

1825/6: Assuming the Colombian platina ban was somewhat effective, the large French consumption in 1825 & 1826 can be explained by early Russian platina export.

Citation: Aperçu sur les monnaies russes et sur les monnaies étrangères ..., Vol. 1; Stanislav Shoduar(1836) p.147


1822-1823: Platina was found but not yet fully identified.

In early 1826, von Humboldt calculated the 1824 Oural mine output in Francs (@ Fr 19,500,000/ 5700*32.15.) and it appears that intrinsic Platinum was implied or inferred to the Price of Gold at the monopolist St. Petersburg Mint.

Decades later, authors mistakenly continued to cite this as an actual Russian market 'Gold Price' for the period. It is nowhere evident nor established that unrefined or refined platinum (platina) in Russia ever sold at an intrinsic rate equal to Gold.

The Paris Price for refined Platinum was also not so high, perhaps 2/3rds the Gold Price (in December, 1825) according to Breant's table. However, on other markets this confusion may have advantageously favored speculators as Paris Platinum rose episodically & stratospherically on rumors and shortages.

Citation: Le globe, Volume 3 (1827), p.478

An unconfirmed expert opinion looking back ~80 years. This is may be an erroneous forex calculation (in Paper Rouble rates), the discrepancies below noted.

1) Among contemporary observers, however, the highest Paris-reported period Price for Russian platina was ~ Fr 32. (<£ 1.50), nearly matching a London Price for Colombian ore circa 1825, ~£ 1.55.

2) If otherwise correct, an extraordinarily circumstance occurred: refined Platinum sold at market in Paris for less than the "Ural Price for Crude" cited below at the Peak (December, 1825.) Those traders purchasing w/gold or silver would have paid higher 'metallic equivalent rates' at a Peak - an exceedingly poor (and unlikely) trade at the Troy Ounce, indeed.   Therefore, dubious estimations, 1819-27.

1825: 1 Troy Ounce platina (ore, @ Silver Rouble rate) = £ 2.10 (USD$ 10.14)

Citation: The Mineral industry, Volume 17 (1908), p.718

1836:
Official Russian estimation (1824-34)

1824-36: 1 Troy Oz. Platinum (est. avg.) = 22.30 Banco руб (USD$ 4.31)

Citation:Handels-Geographie: Ein Handbuch für Handels-, Gewerbs-, Real- und andere... ; Adolph Nischwitz (1835) p.641

The platina demand in France 1824-1826 exceeded Russian production by ~20%; it seems likely Russian platina exported to Paris.

1822-31: Russian platina production and French platina imports, in Troy Ounces



1918 Historical Platinum Production Summary:


Citation: Traité de chimie appliquée aux arts; Jean-Baptiste Dumas (1833) p.432


The early Platinum years coincided with increasing Russian bond market volatility, with notably higher bond prices (& speculative activity?)




Poud, in English Troy Ounces and Marcs, etc.

As late as the 1860s, this sort of transport from the Ural placers was common. The caravan journey took 5 months?