France, 1894

Suspect?

Russia, 1894

 
1894: 1 Troy Oz. platina (Ural Contract: 83% ore) =13.29 руб
1894: 1 Troy Oz. Pt (Contract @ .999) =16.01 руб
1894: Russian Refiner's Cost @208 руб/Poud = 0.395 руб 
1894: 1 Troy Oz. Platinum (SPb: Refined Poud) =16.409 руб

Citation: The Mineral Industry, Vol. 7 (1899) p.570


 
1894: 1 Troy Ounce platina (Russian ore, 83%; Ural Spot) = 8.91 руб (Fr. 24.14)
1894: 1 Troy Oz. platina (Russian ore, 83%; Ural Spot?) = 9.81 руб (Fr. 26.58)
1894: 1 Troy Oz. platina (Russian ore, 83%; SPb Spot?) = 13.67 руб (Fr. 37.05)

1894: 1 Troy Oz. Platinum (manufactured, wholesale) = £ 2. (18.614 руб)

Colombia, 1894

In 1894, Colombia produced ~139,939 ozt (4,352.6 kgs) Gold.  

Where the Colombian libra is suggested at 14.792 ozt.,

1894: 1 Troy Ounce platina (Paris: Colombian ore, 83%?) = Fr. 60.84
1894: 1 Troy Oz. platina (Paris: Chocó ore, at purity) = Fr. 73.30

1894: 1 Troy Ounce platina (London: Chocó ore, 83%?) = £ 1.15
1894: 1 Troy Oz. platina (UK: Chocó ore, at purity) = £ 1.38

1894: 1 Troy Oz. Platinum (manufactured, wholesale) = £ 2. (USD$ 9.78)

 

 

Citation: Mineral Resources of the United States 1906 (1907) p.30 


The Chocó platinum is the purest and best sold in foreign markets, as it contains from 80 to 85 per cent of pure metal. Its price had already risen in 1894 to 900 francs, or £36 ($180), per pound. In spite of the high price it commands in the world's markets, the exploitation of the potentially rich platinum deposits of Colombia has been so slight that, as stated by Mr. P.P. Demers, the American consul at Barranquilla, only 661 pounds of it were produced in the Chocó in 1905.

UK, 1870s/80s: Jamieson's Record

Presumable ore at the intrinsic rate, Dr. Alexander Jamieson's London price record for wholesale Platinum Sponge (1870-93) may be compared to this other records, (presumably, currency adjusted for fineness to Spot-Price for import crude ingot & Ural ore.)

Citation: The Electrical Engineer, Vol. 15, No. 254, 3/15/1893 p.268

1870: 1 Troy Oz. Pt (London, bulk) ~ £ 0.90 (USD$ 5.03)

1870: 1 Ozt. Platinum (semi-mfg, whols.) = £ 1.60 (USD$ 8.94)

1871: 1 Ozt. Pt (London, bulk) ~ £ 0.925 (USD$ 5.05)

1871: 1 Ozt. Platinum (semi-mfg. & mfg.) ~ £ 1.65 (USD$ 9.0)

1872: 1 Ozt. Pt (London, bulk) ~ £ 0.95 (USD$ 5.18)

1873: 1 Ozt. Pt (London, bulk) ~ £ 0.975 (USD$ 5.33)

1873: 1 Ozt. Platinum (semi-mfg, whols.) = £ 1.60 (USD$ 8.88)

1873: 1 Ozt. Platinum (dubious Low: mfg.) = £ 1.40 (USD$ 7.77)

1873: 1 Ozt. Platinum (Bid: Scrap) = £ 0.60 (USD$ 3.33)

1874: 1 Ozt. Pt (London, bulk) ~ £ 1.0 (USD$ 5.42)

1874: 1 Ozt. platina (Ural price) = £ 0.95 (USD$ 5.15)

1874: 1 Ozt. Platinum (ingot) = £ 1.26 (USD$ 6.82)

1874/5: 1 Ozt. Platinum (semi-mfg., retail) = £ 1.50 (USD$ 8.13)

1875: 1 Ozt. Pt (London, bulk) ~ £ 1.0 (USD$ 5.59)

1876: 1 Ozt. Pt (London, bulk) ~ £ 1.03 (USD$ 5.57)

1877: 1 Ozt. Pt (London, bulk) ~ £ 1.08 (USD$ 5.47)

1878: 1 Ozt. Pt (London, bulk) ~ £ 1.13 (USD$ 5.50)

1879: 1 Ozt. Pt (London, bulk) ~ £ 1.15 (USD$ 5.58)
1880: 1 Ozt. Pt (London, bulk) ~ £ 1.25 (USD$ 6.05)
1881: 1 Ozt. Pt (London, bulk) ~ £ 1.36 (USD$ 6.58)

1882: 1 Ozt. Pt (London, bulk) ~ £ 1.46 (USD$ 7.09)
1883: 1 Ozt. Pt (London, bulk) ~ £ 1.55 (USD$ 7.52)
1884: 1 Ozt. Pt (London, bulk) ~ £ 1.64 (USD$ 7.94)

1885: 1 Ozt. Pt (London, bulk) ~ £ 1.74 (USD$ 8.44)
1886: 1 Ozt. Pt (London, bulk) ~ £ 1.83 (USD$ 8.87)
1887: 1 Ozt. Pt (London, bulk) ~ £ 1.90 (USD$ 9.22)
1888: 1 Ozt. Pt (London, bulk) ~ £ 2.08 (USD$ 10.11)

1889: 1 Ozt. Pt (London, bulk) ~ £ 2.21 (USD$ 10.77)

1890: 1 Ozt. Pt (London, bulk) ~ £ 2.75 - 4.20 (USD$ 13.37 - 20.41)

1891: 1 Ozt. Pt (London, bulk) ~ £ 2.75 - 1.94 (USD$ 13.37 - 9.45) 
1892: 1 Ozt. Pt (London, bulk) ~ £ 1.75 - 2. (USD$ 8.50 - 9.74)

1893: 1 Ozt. Pt (London, bulk) ~ £ 1.50 - 1.95 (USD$ 7.29 - 9.50)

A. Jamieson, 10 Broad Street , Golden Square, London W. was a dentist in practice before 1878, manufacturing and patenting platinum alloys. His industrial purchases of platina (ore) would likely be bulk-rate at .999 Fine (Specific Gravity = 22) in London.

March, 1880:

Principal in The Dental Manufacturing Company, c. 1882

Where a 'Young Head' Full Sovereign of Queen Victoria weighted 7.98 g (7.315 g pure Gold) we may assume 7.3 g of pure Platinum valued at £ 0.5 intrinsic at the money-changers.

1888: 1 Troy Oz. Platinum (London, scrap) = £ 2.13 (USD$ 10.355)
c.1888:


1891:

1872-1897: London Silver Price


1872: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2714
1873: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2669
1874: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2627
1875: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2559
1876: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2387
1877: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2466
1878: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2368
1879: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2306
1880: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2354
1881: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2331
1882: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2334
1883: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2278
1884: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2283
1885: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2190
1886: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2044
1887: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2010
1888: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1931
1889: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1923
1890: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2151
1891: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.2030
1892: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1793
1893: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1605
1894: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1306
1895: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1346
1896: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1385
1897: 1 Troy Oz. Silver (Fine, Mint Rate.) = £ 0.1242

USA, 1894: Fluctuating Prices

1894: London Price firm : £  1.8875



May, 1894: San Francisco hardware dealer in assay equipment (then agent of Eimer & Amend), Justinian Caire's bill should have included transcontinental freight & markup:


May 1894: 1 Troy Oz. Platinum (San Francisco, Wire) = USD$ 13.80
May 1894: 1 Troy Oz. Platinum (SF, wire) = USD$ 13.06

Citation: Annual Report of the Secretary to the Regents Appendix ("Fiscal Year Ending June 20, 1894") Appendix No. 6, p.159


Caire's "Ounce" presumably avoirdupois:

May 1894: 1 Troy Oz. Platinum (SF: Semi-Mfg, Foil) = USD$  12.07
May 1894: 1 Troy Oz. Platinum (SF: Semi-Mfg, Wire) = USD$  13.16




Presumably, "Richards & Co." of NYC or Philadelphia? and 0.5 Ozt Pt Wire

July, 1894: 1 Troy Oz. Platinum (Phila.: Semi-Mfg) = USD$ 10.44?




1894: 1 Troy Ounce Platinum (Mfg, Trade) =

Citation: The Dental Cosmos, By Edward C. Kirk (Dec. 1894) p.26


May 1894: 1 Troy Oz. platina (SF: CA ore, 75%?) = USD$ 6.
May 1894: 1 Troy Oz. platina (SF: CA ore .999) = USD$ 8.

Citation: 16th Annual report of the US Geological Survey, Part 3 ; Geological Survey (1894





Global Platina Analysis for Purity

UK, 1894/5

Letter Dated 2 Feb 1894:

1894: 1 Troy Oz Platinum (UK: Whols., Bulk) = £ 1.20
 1894: 1 Troy Oz Platinum (UK: Whols., Bulk) = £ 1.40

Citation: Annual Report - New South Wales Department of Mines (1895) p.130



1894/5: 1 Troy Oz Platinum (UK: whols., bulk) = £ 1.50 - 2.0 (USD$ 7.32 - 9.72)

c.1897: 1 Troy Oz platina (Russian ore, at SPb?) = £ 1.40 (USD$ 6.80)
1895: 1 Troy Oz platina (Australian Spot: ore, 75%) = £ 1.20 (USD$ 5.87)
1895: 1 Troy Oz Platinum (NSW, intrinsic) = £ 1.60 (USD$ 7.83)

1895:
Citation: Economic mining: a practical handbook for the miner, the metallurgist... (1895) p.587


Citation: The Electrical review, Vol. 40 (1897), p.277

December 1895:

Where 1 Troy Ounce of Broken Hill/Fitfield platina was 76.9% Pt, refiners also retained at no cost to them any residual PGM: ~1 gram Ir, 2.3 g Os, 0.4 g Rh.  Trade value of PGMs deducts from refiners' cost or adds to profit, accordingly.

Citation: 1894 Annual report , New South Wales. Dept. of Mines (1895) p.205


1895 :1 Troy Ounce platina (NSW: ore, 75%) = £ 1.20 (USD$ 5.87)
1895 :1 Troy Ounce Pt (NSW: ore, .999) = £ 1.60 (USD$ 7.83)

Citation: The Electrical Journal, Vol. 1, Issue 20 (3/15/1896) p.397

USA, 1865 - 1894: Worst 30-Years for US Deflation, Measured in Metals

The End of the US Civil War marked the beginning of a record 30-Year period for deflation in the USA.  The US Price Index fell -64.25%.  The Index of Wholesale Metal Prices (Table 100: Warren &Pearson, 1932) fell -71.9% and between July 1864 - December 1894, -81.8% (Table 40: Ibid.)


It is well worth examining & comparing the New York prices of precious metals for this, one of the longest & most severe deflationary periods in US history.

By 1889, the average monthly Price of Platinum had risen to $16. (and approached $20./oz.) but retreated to $8.-9. for a couple of years.  By 1895, it was again nearly the Price of Gold.  The price of Platinum was volatile but rising.

1865: 1 Troy Ounce Platinum (manufactured, wholesale)  = USD$ 12. - 15.00
1865: 1 Troy Ounce platina (ore, retail)  = USD$ 6.

1893: 1 Troy Ounce Platinum (semi-refined, retail) = USD$ 10. -13.
1894: 1 Troy Ounce platina (Russian ingot) = USD$ 9.33


Mid-1893:


Apparently, the markup on platinum salt solution sold to photographers was 100 - 200%.  One manufacturer was enraged when a home chemist dared publish the economical recipe.

Citation: The American amateur photographer, Volume 5 (1893), p.55

Citation: The American amateur photographer, Volume 5 (1893), p.124


Citation: Western Druggist, Volume 17 (1895) p.341


Conservatively estimating for similar products in 1865, platina & Platinum manufacturers probably cost about the same in 1894.

1865-94: Silver Fell -52.57%
 
1865: 1 Troy Ounce Silver = USD$ 1.3384
1894: 1 Troy Ounce Silver = USD$ 0.6348

 
1865-94: Gold Fell -53.5%

1865: 1 Troy Ounce of Gold = $ 44.44
1894: 1 Troy Ounce of Gold = $ 20.67

USA, 1893-6: Russian Price in Dollars

1893: 1 Troy Oz. platina (Russia, export: crude ingot?) ~ USD$ 5.06

(US govt estimate, from Silver Rouble, @$0.10)

Citation: Monthly Summary of Commerce and Finance of the United States (1899) p. 2587




1893: 1 Troy Ounce of Platinum (semi-refined ingot) = $ 8.93

1894: 1 Troy Ounce of Platinum (semi-refined ingot) = $ 9.33

1895: 1 Troy Ounce of Platinum (semi-refined ingot) = $ 10.93

1893: 1 Troy Ounce of platina (US/Cdn ore) = $ 6.8933

1894: 1 Troy Ounce of Platinum (US/Cdn ore) = $ 6.

1895: 1 Troy Ounce of Platinum (US/Cdn ore) = $ 6.

1896: 1 Troy Ounce of Platinum (US/Cdn ore) = $ 5.7914

Citation: Report of the United States Geological Survey to the ..., Vol. 20, Part 6; US Geological Survey, p.293


Citation: La Russie industrielle: étude sur l'Éxposition de Nijni-Novgorod; Maurice Verstraete, p.293


1893: 1 Troy Oz. platina (Russia: ore, 82%) = £ 1.292 (USD$ 6.28)
1893: 1 Troy Oz. platina (Russia: intrinsic) = £ 1.58 (USD$ 7.65)

c.1893: 1 Troy Oz. Platinum (scrap) = £ 1.20 (USD$ 5.83)

  Citation: The Mineral Industry, its statistics, technology and trade, Vol. 17 p.717