Russia, 1862: Johnson & Matthey's Purchase

1862:  1 Troy Ounce Platinum (SPb: Scrap .95 Pt, Lg. Bulk) = 6.1842 руб Ag. (£ 0.8947)  

Citation:  Platinmetalle von Heinrich Quiring (1962) p. 72
After technological attempts to exploit the recalled Platinum coinage from the State coffers had been abandoned - for a Russian industry for Platinum manufactures did not exist - in 1857 654.4 kilograms (of Platinum, as Scrap) were sold for 215 Roubles per kg to the Paris refinery of Desmoutis.  In 1862, Johnson, Matthey & Co. of London took a further 11,800 kg at the price of 199 Roubles per kg. With this large supply, the English company was able to secure a world monopoly of trade for many years.  Prices for Russian crude platina, the refined metal and other PGMs hereafter rose or  fell according to the English market.

1862 Platina Yield: 142.025 Poud = 5,681 Funt = 74,796.72 Ozt. = 2,326.44 Kgs.
1862 Platina Export: 49 Poud = 1,960 Funt = 25,806 Ozt. = 802.65 Kgs.

  Citation: A Treatise on Chemistry: Metals; Henry Enfield Roscoe, Carl Schorlemmer (1879)


Platina export:


Sellon's purchase in 1862:

1862: "about 1860" (1902)

Important Summary of Platinum Production: The Journal of industrial and engineering chemistry, Volume 10, American Chemical Society, 1918

USA, 1911: Colombian ore and Iridium

1911 Platinum All-Time Record High (in avd.) noted in January 1912 journal.

The Price of Iridium increased in the latter part of 1911, 18.5%.

At especially exorbitant rates, these may be two leading indicators for war-time escalation: hoarding and inflation.  


1911: 1 Troy Ounce platina (Colombian import, 83%?) = USD$ 26.86
1911: 1 Troy Oz. Pt (Colombian ore @.999) = USD$ 32.36
1911: 1 Troy Oz. platina (SPb: Russian ore) = USD$ 35.19

1911: 1 Troy Oz. Pt (SPb: Russian ore @.999) = USD$ 42.40

1911: 1 Troy Oz. Platinum (USA: Ore & refined, Imported) = USD$ 38.48

Citation: Minerals Yearbook, 1911 ; US Geological Survey (1912) p.990



1911: 1 Troy Oz. platina (Mkt: US ore, 70%) = USD$ 28.8806
1911: 1 Troy Oz. Pt (Mkt: US ore & Scrap, .999) = USD$ 43.12

Citation: Congressional edition, Vol. 6419 p.984
 

Citation: The Mineral Industry, Vol. 20 (1912) p.597




1911: 1 Troy Oz. Platinum (refined ingot, NY mkt) = USD$ 43.12

NY Monthly Mkt Prices for Russian Ingot, 1910 - 15:
 
October 1911:
October 1911: 1 Troy Oz. Platinum (Mkt) = USD$ 46.25
October 3, 1911: 1 Troy Oz. Platinum (Mkt) = USD$ 47.50
 


October ? 1911: 1 Troy Oz. Platinum (Trade) = USD$ 50.06


Citation: The Commercial Telegraphers' Journal: The Official Organ..., Vol. 10 No.1



 


 
Iridium: 
 
1911: 1 Troy Oz. Iridium (refined, mkt.) = USD$ 63.

1911: 1 Troy Ounce Iridium (ingot, mkt) = USD$ 54.
1911: 1 Troy Ounce Iridium (ingot, mkt) = USD$ 60.
1911: 1 Troy Ounce Iridium (ingot, mkt) = USD$ 64. 

Germany, 1874: Robert Hasenclever's Table (ℳ)

In 1874, Robert Hasenclever assumed control of Chemische Fabrik Rhenania in Stolberg, Rheinland, where he had worked since 1864.


1874: 1 Troy Ounce Platinum (Mfg, Bulk) = ℳ  26.033 (Fr. 32.54)

Citation: Handbuch der chemischen Technologie: Neue Folge, Vol. 12;  Georges Lunge et al. (1903) p.785


Suspect table purporting to show deflation of PGMs in the 1870s. Compare this 1876 UK price table. The author was apparently misinformed, in error.


However, these Platinum prices contradict another German table showing the Platinum price had risen. Merck's Index for the lesser PGMs record much higher prices in 1874.

Citation: Kunst und Gewerbe: Zeitschrift zur förderung deutscher ..., Vol 20 (1886) p.192


1874: 1 Troy Ounce Platinum (Mfg, Retail) = ℳ 37.25 (USD$ 8.98)

1874: 1 Troy Oz. Osmium (wholsale?) = ℳ 98.82 (USD$ 24.)
1874: 1 Troy Oz. Iridium (wholesale?) = ℳ 96.52 (USD$ 23.46)

1884: 1 Troy Ounce Platinum (retail?) = ℳ 29.59 (USD$ 7.06)
1884: 1 Troy Ounce Osmium (retail?) = ℳ 79.34 (USD$ 19.)
1884: 1 Troy Ounce Iridium (retail?) = ℳ 61.21 (USD$ 14.90)



 
Unknown Price.

USA, 1867 - 1902: Neumann's Record

Bernhard Heinrich Neumann (1867-1953) worked as a practical chemist (1877/8) and began studies in electrochemistry around 1890.

His monograph, Die Metalle, Geschichte, Vorkommen, Gewinnung Statistik, 1903 includes a table with US trade prices quoted in German Marks. The original data is from two American sources, "M. Raynor" and the Franklin Institute of Philadelphia.  Herr 'M. Raynor' is in fact H.M. Raynor of New York.

The original price-table in USD$ was published by Charles Bullman, in an article of The Mineral Industry, Vol. 1, 1892.   Bullman's (problematic) data originates in Raynor's invoice list from Johnson & Matthey, in Pound Sterling.  Implicitly, prices were in US Gold, not German Marks nor (fluctuating) US paper currency, and herein lies one part of the error.

Bullman apparently used one forex rate and added a 3% shipping cost.

Citation: The Mineral Industry, Vol. 1, 1892, p.389

For this column I am indebted to the kindness of Mr. HM Raynor, the pioneer of New York in the platinum trade, who courteously gave me the invoice prices of his imports of plate and sponge from 1867 to 1890. To these prices three per cent is added...

Citation: Die Metalle: Geschichte, Vorkommen und Gewinnung, nebst ausführlicher ... By Bernhard Neumann (1904) p.367

Geo. F. Kunz's April 1898 'Lecture to the Franklin Institute of Philadelphia' : 
(USA) Platinum Wire, 1883-1898

Citation: Journal of the Franklin Institute, Vol. 146 ; Franklin Institute (Philadelphia, Pa.: 1898) p.210.


Bullman's calculated exchange rate USD$ 4.865 per Citation: Coinage laws of the United States, 1792 to 1894, with an appendix of ... US Senate Committee on Finance (1894)


c.1890/1:
Johnson & Matthey refining cost, per Troy Oz. Pt = £ 0.0625 (USD$ 0.30)
Small firm's refining cost, per Troy Oz. Pt = £ 0.1250 (USD$ 0.61)

Citation: Economic mining: a practical handbook for the miner, the metallurgist... ; Charles George Warnford Lock (1895) p.587

Germany, 1904: Neumann's Seminal Price Study for the PGMs

This is the most comprehensive historical 19th C. price table for the PGMs available, but with retail prices. Note the ~90% Palladium price collapse in 1875.

Citation: Die Metalle: Geschichte, Vorkommen und Gewinnung, nebst ausführlicher ... Bernhard Neumann (1904) p.367

France 1847: Paris Chemist Catalogue

October 1847: Quesneville, successor to Nicolas Louis Vauquelin's Catalogue (?)

Citation: Revue scientifique et industrielle, Vol. 31 (10/1847) p.149


1847: 1 Troy Ounce platina (Ore 75%, Retail) = Fr 24.88 (USD$ 4.75)
1847: 1 Troy Oz. Pt (Ore @.999, Ret.) = Fr 33.18 (USD$ 6.34) 
1847: 1 Troy Oz. Platinum (Sponge, Refined, Ret.) = Fr 37.32 (USD$ 7.13)
1847: 1 Troy Oz. Platinum (Semi-Mfg, Ret.) = Fr Fr 37.32 (USD$ 7.13)
 
1847: 1 Troy Oz. Platinum-Black (Residue, Ret.) = Fr 6.22 (USD$ 1.19)


1847: 1 Troy Oz. Palladium (Refined, Retail) = Fr 124.41 (USD$ 23.75)




1847: 1 Troy Oz. Iridium (Ore?, Retail) = Fr 31.103 (USD$ 5.94)
1847: 1 Troy Oz. Osmiridium (Ore, Retail) = Fr 46.66 (USD$ 8.91)






1847: 1 Troy Oz. Platinum Chloride (PtCl₂, Ret.) = Fr 31.103 (USD$ 5.94)



1847: 1 Troy Oz. Platinum Oxide (PtO2, Ret.) = Fr. 37.32 (USD$ 7.13)



Prices fell by a third, from this 1846 catalogue.

1847: 1 Troy Oz. Platinum (Mfg, Bulk) = Fr 30.72 (USD$ 5.72) 

1847: 1 Troy Oz. platina (Ore, Ret.) = Fr 24.88 (USD$ 4.75)  

1847: 1 Troy Oz. Platinum (Sponge, Refined) = Fr 37.32 (USD$ 7.13) 

1847: 1 Troy Oz. Platinum (Semi-Mfg) = Fr 37.32 (USD$ 7.13)  

1847: 1 Troy Oz. Palladium (Refined) = Fr 124.40 (USD$ 23.75) 

1847: 1 Troy Oz. Iridium (Refined) = Fr 93.30 (USD$ 17.82)  

Citation: Revue scientifique et industrielle, Vol. 27 (1847) p.129

Citation: Catalogue des livres francais, grecs, latins, allemand, anglais, espagnols ; Hector Bossange (1847)

c.1847/8: (Paul et Gabriel) Rousseau Frères

1847: 1 Troy Oz. Platinum Chloride (PtCl₂, Ret.) = Fr 31.103 (USD$ 5.94)

1847: 1 Troy Oz. Pt-Ir Sponge (Sponge, Ret.) = Fr 34.214 (USD$ 6.53)



Citation: Chimie élémentaire avec ses principales applications aux arts;  Apollinaire Bouchardat (1848) pp 595-




 

1921: "Mousse de platine" was unpurified Platinum-Iridium Sponge.


1847: 1 Troy Ounce platina (in Russia) = Fr 10.68 (USD$ 2.04)




1847: 1 Troy Oz. Platinum (High Grade Scrap?) = Fr 34.99 (USD$ 6.68)

Citation: Journal des économistes, Vol. 33, By Société de statistique de Paris (1852) p.122

c. 1847: 1 Troy Ounce Platinum (Mfg)  = Fr 30.72 (USD$ 5.86)  

c. 1848: 1 Troy Ounce Platinum (Semi-Mfg, Retail)  = Fr 37.32 (USD$ 7.13) 

Although the still indicated here is much larger, the price per Troy Ounce was about the same as in 1832.  This price persistence & stability may have been due to certain governmental decrees and regulations, which effectively fixed a floor.

Worked Platinum was often indicated at 1,000 Fr./kg.; likewise, it's perhaps not coincidental that the "80,000 Francs" price for a Platinum still was repeated as late as 1889 (unlikely as an actual cost, given Platinum's spectacular rise after 1874.) 

Citation: Précis de chimie industrielle à l'usage des écoles préparatoires aux ... Anselme, M. Payen (1849) p.98.

1848: 1 Troy Ounce Platinum (Intrinsic)  = Fr 24.88 (USD$ 4.75) 


Citation: Annalen der Physik und Chemie, Vol. 2; Vols. 73-74 (No. 6; 1848) p.320

1845: 1 Troy Oz. Platinum (semi-mfg., retail)  = Fr. 40.43 - 46.65 (USD$ 7.99 - 9.) 


Citation: Maison centrale de droguerie: prix courant général 1845, p. 50



Although neither edition quoted Platinum by the gram, the Bossange catalog had the same prices for Grove batteries in 1845 and 1847.  This suggests a stable retail price.


Citation: Catalogue générale de Hector Bossange (1845) p.55






Citation: 1ere Supplement ; Catalogue générale de Hector Bossange (1847) p.55

Lightning Rod Tip, Fr. 20. -25. (USD$ 3.84 - 4.80)

c. 1848: 1 Troy Oz. Platinum (Semi-Mfg, Ret.)  = Fr 37.32 (USD$ 7.13) 

1848: 1 Troy Oz. Platinum (NYC: Semi-Mfg, Trade)  = USD$ 11.00  

c.1848: 

Citation: Manipulations électrotypiques ou traité de Galvanoplastie ; Charles-V. Walker, J. Fau (1849) p.148

Chlorure de platine sec, le gramme (variable).... 1 Fr.

Platine en fils de diverses grosseurs .... 1 20 Fr.

Dental pivots were a Platinum alloy, perhaps 30% Ag:


1847: Platinum Workers in Paris