USA, 1866: Chamberlain's Catalogue (Boston)

A Boston retail merchant, H.B. & W.O. Chamberlain's Catalogue of Chemical Apparatus (1866? 1868?) pp. 24, 27 etc.

"Item No. 196. Crucibles, platina; drawing full size. The numbers represent, nearly, the fluid ounces capacity and Troy ounce weight. The covers are made so as to be used as capsules. These are not soldered, but are wrought, and are warranted not to crack; per grain, 4 cents; per gramme, 60 cents."
 

"Item No. 408. Platina Wire, per grain 3 cents, per gramme, ............................. .45"

"Item No. 467. Spatulas, platina, according to weight, per gramme, ................... .60"

c.1866: 1 Troy Oz. Platinum (Semi-Mfg, Small ) = $ 14.40

c.1866: 1 Ozt. Platinum (Semi-Mfg, per Ozt) = $ 14.
c.1866: 1 Ozt. Platinum (Mfg: Spoons, Spatulas, etc.) = $ 18.66

At the Gold Rate, refined Platinum cost at least 50% more in the USA than in the UK.

1865: 1 Ozt. Platinum (refined, UK mkt) = £ 1.24 ($ 6.06)

1866: 1 Ozt. Platinum (UK retail) = £ 1.60 ($ 7.31)

1865-72: 1 Ozt. Platinum (Trade, Average) ~ $ 10.40

1865-72: 1 Ozt. Platinum (Mfg @ Gold Rate) = USD$ 12.63 - 14.65

1865-72: Philadelphia price 
Citation: Dental summary, Vol. 36 (1916) p.249

 
1866: 1 Ozt. platina (California ore, other PGM?) = $ 6.
 
1866: 1 Ozt. platina (ore @ Gold Rate) = USD$ 8.45

Citation: Hettingers dental news, Vol. 1-6 (1866), p.71

 

Where a carboy of Sulphuric Acid was 15 Imperial Gallons (68.2 Litres), the daily production was 360 Imperial Gallons (1,636.6 Litres) 

Citation: Annual report of the American Institute of the City of New York, 1867 p.885

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S.S. White Catalogue, January 1867:

1866/7: 1 Troy Oz. Silver-Platinum (Dental: Alloy) = $ 6.

 
USA, 1866: Platinum Import, $107, 028.




July 20, 1866 Import: 3 pkgs Platinum for $3,807. = $1,269./per
 

Germany, 1866

German Platinum crucible prices were ~25% cheaper than UK products and ~20% cheaper than French products.  


US Platinum Wire was about 4x more expensive than German prices, in Greenbacks.

1865: 1 Troy Oz. Platinum (Mfg: Small Crucible, Retail) = Fl 19.595 (£ 1.63)
1866: 1 Troy Oz. Platinum (UK Mfg: Crucible, Retail) = Fl. 24.02  

1865: 1 Troy Oz. Platinum (Mfg: Crucible, Ret. Discount) = Fl 17.11 (£ 1.42)
1867: 1 Troy Oz. Platinum (France Mfg: Crucible, Ret.) = Fl. 22.30
 
1865: 1 Troy Oz. Platinum (Semi-Mfg: Fine Wire, Ret.) = Fl 18.04 (£ 1.49) 
1865: 1 Troy Oz. Platinum (Semi-Mfg: Simple Wire, Ret.) = Fl 14.31 (£ 1.185)
1865: 1 Troy Oz. Platinum (Refined Sponge, Ret.) = Fl 14.31 (£ 1.185)

1866: 1 Troy Oz. Platinum (crucibles, retail) = Fl 17.11 - 19.59 (£ 1.43 - ) ;


Compare USA (April 1866 Gold Rate for Greenbacks): 
1866: 1 Troy Oz. Platinum (crucibles, retail) = USD$  4.08 - 5.47 ; 4.67 - 6.27

1866: 1 Troy Oz. Platinum (Sheet & Wire) = Fl 14.31 - 18.04 (£ 1.19 - 1.50) ;
(UK)  1866: 1 Troy Oz. Platinum (Sheet & Wire) = £ 1.60 (USD$   )
................................................................................(Fr 30.33 - 38.24) 
(France) 1866: 1 Troy Oz. Platinum (Sheet & Wire) = Fr 46.65 - 62.50


May/June, 1866: 1 Troy Oz. Platinum (Scrap, Buyer's Price) = Fl 9.02
1866: 1 Troy Oz. Platinum (Sheet & Wire) = USD$  3.41 - 4.58 > 4.30 - 5.77 

 
1865: 1 Troy Oz. Platinum (Wire) = USD$ 12. - 15.  (Gold) ;  USD$ 15. - 20.15 (Greenbacks)

1866: 1 Troy Oz. Palladium (pure) = Fl 108.08 
..........................................................................(£ 8.42 ; Fr 214.28 ; USD$ 24.10 - 32.34)

The US Palladium Price (presumably, Greenbacks) was more than 5x higher in 1864.

1864: 1 Troy Ounce Palladium (retail, refined, semi-mfg, pure)  = USD$ 150.00

1865: 1 Troy Oz. Osmium (Refined .999, Ret.) = Fl 46.66 (£ 3.865)
1865: 1 Troy Oz. Iridium (Refined .999, Ret.) = Fl 31.1035 (£ 2.58)
....................................................................(£ 2.59 ; Fr 65.53 ; USD$ 7.42 - 9.95)

January 1866:







May/June 1866: Frankfurt Supply-House, advertising in Austrian journal:

Citation: Deutsche vierteljahrsschrift fuer zahnheilkunde, Vol. 6 (1866)

Tariffs:

USA/UK: Platinum Foil

1808: 1 Troy Ounce Platinum (thin foil in slips, cost)  = £ 0.40 (USD$ 1.85)

1838:

1838: 1 Troy Ounce of Platinum (whols., foil, var.) = £ 0.40 (USD$ 1.85)

1838:
Citation: Chemical recreations: a compendium of experimental chemistry;  John Joseph Griffin (1838)

 



1855:

1855: 1 Troy Ounce of Gold (whols., foil, var.) = $ 32.
1855: 1 Troy Ounce of Platinum (whols., foil, var.) = $ 12.

1855:
Citation: Descriptive catalogue of chemical apparatus, chemicals and pure reagents (1855 Chilton , pp.)

1866:
In 1866 & 1877, Griffin's retail Platinum price was nominally the same, although unit prices varied.

1866: medium Platinum foil, 1" sq., cost £ 0.05 (-25% less than the 1877 Price) @ £ 1.65/oz. (the same nominal rate), the  

1866:

Capsule: approx. volume 1.5 drams, ~135 grains.
Foil cover: 1.5" sq. in. ~ 22 grains ; Foil: 1." sq. in. ~ 14.5 grains.

1872:

1877:

In Griffin's 1877 Catalogue, thin Platinum foil 1" sq. cost £ 0.025  and medium foil 1" sq. cost £ 0.067, both @ £ 1.65/oz.   

Per 1 troy ounce there were presumably 66 sq. in (132 sq.in. of surface) thin foil, or 24.75  sq. in (49.50 sq.in. of surface) medium foil.

c.1876/7: 1 Troy Oz. Platinum (semi-mfg., whols.)  = £ 1.65 (USD$ 8.94) 

Citation: Chemical handicraft: A classified and descriptive catalogue of chemical ... By John Joseph Griffin (1877) p.367

1877:

 
c.1878: 1 Troy Oz. Platinum (semi-mfg., retail)  = £ 1.60 (USD$ 7.82)

1"x1" = £ 0.01125 (USD$ 0.055) presumably Extra-Thin (142 sq. in. per oz. troy) and perhaps wholesale?

Citation: The British Journal of Photography,  (1879) , pp.136

1890: 1 Troy Ounce of Platinum (Market Peak) = $ 20.

1891: 1 Troy Ounce of Platinum (whols., refined, market) = $ 9.

c. 1891/2: 1 Troy Ounce of Platinum (whols., foil, var.) = $14.0 - 18.66

1892: 1 Troy Oz. Platinum (whols., foil)  = £ 1.60 (USD$ 7.79)

1"x1" (Extra Thin) = $0.20 @ $0.60/gr < 0.33gr

1"x1" (Thin) = $0.25 @ $0.50/gr < 0.5gr

1"x1" (Medium) = $0.30 @ $0.45/gr = 0.75gr
1"x1" (Heavy) = $0.40 @ $0.45/gr = 0.9gr

1"x0.5" (2 Medium) = 1"x1" = $0.60 @ $0.45/gr = 1.3gr

c. 1891/2:

USA, 1865/6: MIT Textbook; Luhme Catalogue (1866)

Assuming the lowest grade Osmiridium (Ir 47% / Os 49%; Ir 53.5% ) was meant; otherwise the SF Platinum market (Scrap) should estimated $7./Ozt at .999 Purity.

1865: 1 Troy Oz. platina (CA: Osmine, Ir 47%-54%) = USD$ 2. (USD$ 2.19)
1865: 1 Ozt. Ir (CA: Iridium, .999) ~USD$ 3.74 (USD$ 4.10) 
1865: 1 Ozt. Ir (CA: Iridium, .999) ~USD$ 4.25 (USD$ 4.67)
  
1865: 1 Ozt. platina (CA: "85.5% Pt") = USD$ 6. (USD$ 8.29 - 8.45)
1865: 1 Ozt. Pt (CA: .999 Pt) = USD$ 7. (USD$ 7.68)

 Citation: Mechanics Magazine; John Knight, Henry Lacey (June 1, 1866) p.347


1866:  1 Ozt. Platinum (UK: Semi-mfg., Whols/Ret.) = USD$ 12.50 (£ 1.65)
1866: 1 Ozt. Platinum (UK: Mfg, Whols./Ret.) = USD$ 14.70 (£ 1.94) 

1865: 1 Ozt. Platinum (Mfg, Bulk) = $ 6.35 ; USD$ 10. (Fr 32.66)
1866: 1 Ozt. Platinum (Semi-Mfg., Retail) = $ 6.09 (Fr. 31.1035) 

Larger Platinumware items of simpler construction were cheaper, but all paid a 40% US Import duty.  The US unmanufactured rate likewise appears ~42% higher than the Paris price, to include merchant costs and profit.


1866: 1 Ozt. Platinum ( > 1 Ozt. Semi-Mfg, Whols./Ret.) = $8.64 (USD$ 9.48)

1866: 1 Ozt. Platinum ( < 1 Ozt. Semi-Mfg, Whols./Ret.) = $9. (USD$ 9.87)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $7.20 (USD$ 7.90)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $8.40 (USD$ 9.22) 
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $8.64 (USD$ 9.48)
  
1866: 1 Ozt. Platinum ( > 1 Ozt. Semi-Mfg) = $9.87 (USD$ 13.91)
1866: 1 Ozt. Platinum ( < 1 Ozt. Semi-Mfg) = $14.40 (USD$ 15.80)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $12. (USD$ 13.17)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $14. (USD$ 15.36) 
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $14.40 (USD$ 15.80)
 

In Luhme's Descriptive Catalogue of Chemical, Pharmaceutical and Physical Apparatus, Meteorological & Mathematical Instruments (c.1866)

p. 43 "Blowpipe Spoons, Platina $2.00 to $2.50"p. 55 "Capsules, Apothecaries, of Platina or Iridio-Platina, Paris make, with or without lip, shallow or hemispherical, and with or without cover. Price according to the size From 40 to 45 cents pr. gramme, or 2 1/2 to 3 cents pr. grain.do., of Pure Silver, according to size. $3.00 to 4.00 pr. oz." 

p. 83 "Crucibles, Platinum or Iridio-Platinum (as used by St. Cair Deville); conical form; with covers having the form of a shallow capsule with handle. Best Paris make. Capacity fr. 1/8 to 1.5 oz. Price 3 cents per Grain, or 45 cents pr. gramme. The capacities of the different sizes, in comparison to their weight, are aboutCont. 1/8.....1/4....1/2....3/4........1....1 1/4....1 1/2 oz.Weight 120....180....240....320....400....500....650 grains about 676. 
Crucibles, pure Silver, conical form, with cover Cont. 2.........4 oz.Weight $5.....$7.50"

p. 107 "Galvanic Battery, Grove's. The size of the glass tumbler is 4 inches high by 3.75 inches in diameter. The weight of the amalgamated zinc* is 2.5 pounds the size of the platinum foil is 3 1/2 inches by 3/4 inch. 

Single cell with binding screw........$3.

Double Cell complete.....................$4.50

Intermediate Cells.........................$1.75

Six Cells in a wooden box...............$12.

Twelve...........................................$22."

(indicated as $0.25/lb., p.151)

p.134 "1259. Platinum Foil for Grove's Battery or Blowpipe use...... $9.00 pr. oz., 3 cts pr grain.

.............do., Wire, for Blowpipe use .....50 cts. to $1.00 pr foot

.............do., Wire, very fine, for ignition with the battery.....15 cts. pr foot

Before any import cost, duties, or profit the Dollar-depreciated values of foreign Platinum were much higher after April, 1864, but fluctuating in 1865:

4/1864 - 9/1864?: 1 Troy Ounce Platinum (mfg., whols.) = Market Price of Gold

1865/6: 1 Troy Ounce Platinum (mfg., whols.) = £ 1.60 - 2.40 (USD$ 12.30 - 18.46)

A Chemistry textbook was jointly produced by two brothers-in-law, Charles Eliot & Frank Storer, after the first year of a course they taught for the Massachusetts Institute of Technology (February, 1865) in Boston.

A 2:1 Gold ratio implies Platinum rose more significant than most commodities, before the 1866/7 price crash. A hypothetical Platinum price record in Greenbacks follows:

4/1864: 1 Troy Ounce Gold (refined) = USD$ 35.70
4/64: 1 Troy Ounce Platinum (refined) ~ USD$ 35.70
7/64: 1 Troy Ounce Gold (refined) = USD$ 53.41
7/64: 1 Troy Ounce Platinum (refined) ~ USD$ 53.41
10/64: 1 Troy Ounce Gold (refined) = USD$ 42.83
10/64: 1 Troy Ounce Platinum (refined) ~ USD$ 35.
1/65: 1 Troy Ounce Gold (refined) = USD$ 44.69
1/65: 1 Troy Ounce Platinum (refined) ~ USD$ 22.50
4/65: 1 Troy Ounce Gold (refined) = USD$ 30.72
4/65: 1 Troy Ounce Platinum (refined) ~ USD$ 15.35
7/65: 1 Troy Ounce Gold (refined) = USD$ 29.36
7/65: 1 Troy Ounce Platinum (refined) ~ USD$ 14.75
10/65: 1 Troy Ounce Gold (refined) = USD$ 30.09
10/65: 1 Troy Ounce Platinum (refined) ~ USD$ 15.
1/66: 1 Troy Ounce Gold (refined) = USD$ 28.96
1/66: 1 Troy Ounce Platinum (refined) ~ USD$ 14.75
4/66: 1 Troy Ounce Gold (refined) = USD$ 26.31
4/66: 1 Troy Ounce Platinum (refined) ~ USD$ 13.
7/66: 1 Troy Ounce Gold (refined) = USD$ 31.34
7/66: 1 Troy Ounce Platinum (refined) ~ USD$ 15.50
10/66: 1 Troy Ounce Gold (refined) = USD$ 30.66
10/66: 1 Troy Ounce Platinum (refined) ~ USD$ 15.
1/67: 1 Troy Ounce Gold (refined) = USD$ 27.82
1/67: 1 Troy Ounce Platinum (refined) ~ USD$ 14.

Richmond Price:
10/64 - 1/65: 1 Troy Ounce Gold (refined) = Gold $ 64. ; C$ 3,840.
10/64 - 1/65: 1 Troy Ounce Platinum (refined) = Gold $ 64. ; C$ 3,840.


Citation: "Dental Surgery as applied in the Armies of the Late Confederate States" W. Leigh Burton in American Journal of Dental Science, Vol. 1, No. 4 (August, 1867) , p.182



1866:

Citation: A manual of inorganic chemistry: arranged to facilitate the experimental ... By Charles William Eliot, Frank Humphreys Storer(1866), p.592

High though these Greenback prices might seem, dental suppliers were advertising/retailing refined Gold foil in Early-Mid 1866 for +75% the New York Market Spot. That implies retail prices for the far rarer imported Platinum rose above $26./oz. in Greenbacks.

In 1864, pure Palladium was reportedly sold for $150./oz. (in Greenbacks?), up from $30. - $60. in the mid-1850s. If following the price of Palladium +300%, refined Platinum products sold at retail might well have cost ~$45. in Greenbacks. In 1858, Platinum crucibles were reportedly sold for $18. - 19. ; a doubling of prices was by no means atypical in this period.

If Gold Foil in 1865 was 50% more expensive than it had been in 1855, Platinum Foil might easily have cost ~ $25 wholesale.

Citation: Hettingers Dental News, Vols. 1-6 (June 1866) p.71

Citation: Hettingers Dental News, Volumes 1-6 (Dec. 1866) p.178


1865-72: Philadelphia Platinum Price, $10.40, Gold Rate

1865-72: 1 Troy Oz. of Platinum (semi-mfg, retail) = USD$ 16.36 > 11.62)

Citation: Dental summary, Vol. 36 (1916) p.249


L.G. Tillotson's Catalogue (July, 1866):



Tables of the NY Gold/Greenback Price, 1862-65:

Inflation of Retail Prices in Greenbacks:

Russia, 1866: Low Price in Roubles

1866: 1 Troy Ounce Platinum (mkt: sponge, whols.) = Fr 14.2143 - 17.0758 ($2.843-3.415)

1866: 1 Troy Oz. Platinum (mkt) = 3.554-4.269 руб Silver ($ 2.66- 3.20)

1867: 1 Troy Oz. Platinum (Paris) = 5.89 руб ; Fr. 23.55= US Gold $ 4.41; USD$ 6.107

"According to reliable sources, the price per kg. of purified Russian platinum in 1865 was 501 francs and in 1866 from only 457 to 549 francs."

Spink & Son : The Numismatic Circular, Vol. 15, May 1907 p. 9885: 

"Nach zuverlässigen Quellen betrug der Kilopreis des gereinigten russischen Platins im Jahre 1865 501 Francs und 1866 gar nur 457 bis 549 Francs."

Citation: Bulletin de statistique et de législation comparée, Vol. 56 (1904) p.644

 
The 1866 Low is also cited in French Francs here.

1846: 1 Troy Ounce Platinum: 6.64 руб

1850: 1 Ozt. Platinum: 5.83 руб

1851: 1 Ozt. Platinum: 5.84 руб 

1859: 1 Ozt. Platinum: 5.58 руб

1860: 1 Ozt. Platinum: 4.28 руб

1866: 1 Ozt. Platinum: 3.56 руб    



At the Poud Rate of 1,877 руб Kr.

1866: 1 Ozt. Pt (SPb, Bulk Ore @SG 21.5) = 3.5641 руб Kr.
1866: 1 Ozt. Pt (+Assumed Refined Cost руб Kr. 1.1156) = 4.68 руб Kr.

Citation: Journal of the Society of Chemical Industry, Vol. 23  Society of Chemical Industry, GB (1904) p.568