France, 1803: Silver & platina equivalent

Where unworked platina is approximately the same value as fine silver, there is another reason Platinum wouldn't suit a Silver fraud: the much greater specific density. 

In London, where Wollaston's imported platina cost £ 0.13 and refined metal retailed for £ 0.75, the ratio appears equivalent: ~5x raw ore cost (in 1805.)  The French price didn't drop until Breant's discovery of Wollaston's method and the large importation of 1811/2.

c. 1802: 1 Troy oz. Fine Silver = Fr 6.91 
c. 1802: 1 Troy oz. platina ~ Fr 6.5
c. 1802: 1 troy oz. Platinum (refined, mfg) ~ Fr 40. ?

The price in 1812 was reportedly Fr 36.57/oz.  troy. 
 
c. 1803: 
 Citation: Encyclopedie Methodique, Ou Par Ordre De Matieres: Par Une..., Vol. 13  Antoine François de Fourcroy, Felix Vicq-d'Azur, Jean Le Rond d' Alembert (1805), p.72

1804: Silver and Platinum pens



Citation: Annales des arts et manufactures: ou mémoires technologiques sur ..., Vol. 26, R. O'Reilly (1804) p.125


c.1803?




1802:

A German reference from 1802: 16 Pfund platina for a 10,000 Franc telescope.

1700-1800, Europe: Platinum Prices Very Volatile

The price of platina had been less than Silver for some time, but rose in the late 1750s (shortly after its 'discovery' was announced.) Platina was first rendered malleable in Spain, then worked/sold in Paris by Chabaneau after 1780; he had taken a 19kg stockpile of ingots from the Spanish Mint.

c.1742?:

 Where 64 drachme = 1 once, ÷ 128 ; 

c.1757: 1 Troy Ounce Platinum = Fr 1,260.

Perhaps half-gros (~29.5 English Troy Grains) ? c.1757

Citation: The Quarterly journal of science and the arts, Vol. 3 By Royal Institution of Great Britain (1817), p.259

c.1760

In 1772, the Paris platina price was equivalent to ~5s 8d. per (UK) troy ounce.

1772 : 1 Troy Oz. platina (Paris Price, retail?) = Fr 6.10 (£ 0.28)

1772:

c.1774 After Buffon, Compt de Milly assumed gold had a specific density of
19.08397; converted (19.32 g/cm³), the specific denisty of Platinum shows the Buffon platina sample to be only 68.12% pure.

Dr. Lewis' Platinum sample appears to have been 79.52%

As cited from Lewis, via Parisian texts in Russia:

Apparently an editorial footnote from Engeström (c.1778?) or the later translator?:

Citation: An essay towards a system of mineralogy, Vol. 2;  Axel Fredrik Cronstedt, Gustav von Engstrom & John Hyacinth de Magellan (1788)




Quiring (1962) p. 73:
1778: "Die entschädigung betrug 10 pesetas für 1 pfund (460g) rohplatin. Daraus läßt sich eine Bewertung des rohplatins zu 18,5 Goldmark je kg. errechnen. Ein ähnlicher Preis ($4,4 je kg) wird fur 1788 angegeben."

1778: "The compensation was 10 pesetas for 1 Libra (460g) platina. From this we can extrapolate and calculate platina at to 18.5 goldmarks per kg. A similar price ($ 4.4 per kg) is indicated for 1788."

Quiring (1962) p. 73: Erroneous dates

"Englische kaufleute boten 1790 in dem platinausfuhrhafen Cartagena 25 Dollar fur 1kg Rohplatin. A. v. Humboldt, der 1819-20, Colombien bereiste, gibt den Preis ab wäsche mit 17 Dollar (71.37 Goldmark), in Paris mit 220-260 Frcs (42-50 Dollar) je kg an."

"English merchants offered in 1790 in the platinum export port Cartagena $ 25 for 1kg crude platinum. A. von Humboldt, who traveled 1819-20, Colombia, are the award from linen with $ 17 (71.37 Goldmark) in Paris with 220-260 francs (42-50 dollars) to each kg."

Counterfeit Platinum Coins were known from this period, although it cannot be certain this ungilded 8-Escudos example isn't a reproduction counterfeit, at 26.8 g. 

c.1800: suspect anecdote (1845 hindsight) but evidence of stockpiling

c.1815 history of platina: as a substitute for Gold, refined & manufactured Platinum could command nearly the same price (~75% ?)

Citation: The National register, Vol. 1, Dated 8/3/1816 p.365

France, 1792: Platina; Discourse on Money

Where the Paris Marc (0.24475 Kg) = 7.86889533 Ozt., 28 Marcs = 6.853 Kg or 220.33 Ozt.

Lavoisier had bought from Breguet in January 1792, "28 Marcs of platina at 9 Livres per Once, which comes to a sum of 2,016 Livres Tournois."

1792: 1 Troy Ounce platina (Paris: whols, 75% ore) = L.T. 9.15
1792: 1 Troy Ounce platina (Paris: Pt at purity) = L.T. 12.20
1792: 1 Troy Ounce Pt (Paris: Labor) = L.T. 10.574


 





 

Recent Annual PMG Prices

New York Dealers' Prices 1998-2008

USA, 1900s: PGMs

1897: 1 Troy Ounce of Platinum (US, refined, whols.) = $ 15. - 16.

1907?: 1 Troy Ounce of Platinum (US, refined, whols.) = $ 38.

1910: 1 Troy Ounce of Platinum (US, refined, whols.) = $ 34.

1912:

UK, 1862-90: Johnson & Matthey's monopoly

ref

Citation: The Journal of industrial and engineering chemistry, Vol. 10, By American Chemical Society (1918) p.920

Citation: Treatise on general and industrial inorganic chemistry, Volume 1, By Ettore Molinari, Thomas Henry Pope, (1920), p.853

UK, 1862/1864: Platinum Still

1862: 1 Troy Ounce Platinum (refined, retail) = £ 1.20 (USD$ 6.67)

1862: 1 Troy Ounce Platinum (refined, wholesale?) = £ 1.18 (USD$ 6.57)

1862: 1 Troy Oz. Platinum (refined,whols.) = £ 1.35 - 1.50 (USD$ 7.51 - 8.34)

Boiler: £ 1,500. (1,250 ounces, troy?)

Boiler: £ 350. (291.7 ounces, troy?)

Boiler: £ 120. (100 ounces, troy?)

Citation: Handbook to the industrial department of the International exhibition, 1862, By Robert Hunt (186?) p.22

1862, 1864:

1864:

1868:

France, 1889: Metals Compared

1889: 1 Troy Oz. Platinum (Wholesale) = Fr 27.99 (USD$ 5.42)
1889: 1 Troy Oz. Gold (Wholesale) = Fr 107.87 (USD$ 20.886) 

1889: 1 Troy Oz. Platinum (Wholesale) = Fr 34.21 (USD$ 6.62)
 
1890: 1 Troy Oz. Platinum (Wholesale) = Fr 74.65 (USD$ )
1890: 1 Troy Oz. Gold (Wholesale) = Fr 107.93 (USD$ ) 
 
1891: 1 Troy Oz. Platinum (Wholesale) = Fr 45.10 (USD$ ) 
1891: 1 Troy Oz. Gold (Wholesale) = Fr 108.365 (USD$ )  

Citation: Commission Permanente des Valeurs de Douane (1890)








1889: 1 Troy Oz. Platinum (Wholesale) = Fr 34.21 (USD$ 6.62)  

Citation: Revue philomathique de Bordeaux et du Sud-Ouest, Vol. 1 (1898) p.314


October 1890:

12/1889: 1 Troy Ounce Platinum (Ingot) = Fr 34.21 (USD$ 6.625)





1889: 1 Troy Oz. Platinum (Retail?) = Fr 37.635 (USD$ 7.287)


Citation: Traité des gîtes minéraux et métallifères, recherches, étude et ..., Vol. 2; Edmond Fuchs, Louis Launay (1892) p. 995

1889: 1 Troy Oz. Ruthenium = Fr 822.08 (USD$ 159.17) 
1889: 1 Troy Oz. Palladium = Fr 482.43 (USD$ 93.41)
1889: 1 Troy Oz. Osmium = Fr 446.25 (USD$ 86.41)  
1889: 1 Troy Oz. Iridium = Fr 373.25 (USD$ 72.27)

Citation: Année industrielle (1890) p.124 

1890:



In 1889, when Platinum was not less than Fr 30./Ozt in bulk, the number of circulating Counterfeit Fr 20 (Platinum Gilts) was estimated at 1: 18,689, a -58.4% decline in one year.  

Of 4,115,650 French coins, 363 were Pt counterfeit (8.82 per 100,000) in 1889.
Of 6,132,136 French coins, 225 were Pt counterfeit (3.67 per 100,000) in 1890.


Citation: Annual Report of the Director of the Mint (1891) p.288


 

Citation: L'Économiste français: journal hebdomadaire, Vol. 2; Paul Leroy-Beaulieu 8/15/1891 p.206


In 1893, of  , only 2 Counterfeits were detected. 

Of 41,713 Fr 20 examined, 1 was (Pt?) counterfeit (2.40 per 100,000) in 1893.

 
 

France, 1892: Iridium, Osmium

1890?: 1 Troy Ounce Iridium ~ Fr 373.20 (USD$ 72.46)
1893/4: 1 Troy Oz. Platinum ~ Fr 90. (USD$ 17.50)
1895: 1 Troy Oz. Iridium = USD$ 15.

Citation: Proceedings: General index to volumes one to fifty of the Proceedings ; American Pharmaceutical Association (1894) p.1041


Citation: Revue des questions scientifiques, Vol. 33-34, Société scientifique de Bruxelles, Union catholique des scientifiques français (1893)p.691


Citation: Boletin de Minas, Industria y Construcciones (1892) Peru.

2/24/1892:





Most likely a typo, the price of Osmium was Fr 15,000./kg, not 1,500. Had the price dropped ~90% (well-below Platinum) in two years, such a crash would have been noteworthy and occasioned suggestions that Osmium was 'much less costly' (w/explanations why.)

1889: 1 Troy Ounce Osmium = Fr 446.25 (USD$ 86.25)

c.1891/2:

1892: 1 Ozt. Osmium (pure, lowest price) = Fr 466.60 (USD$ 90.60)

Citation: Chemical news and journal of industrial science, Vol. 67 ; Sir William Crookes (1893), p.173