Russia, 1843

1843 Platina Yield: 213.757 Poud =  8,550.3 Funt = 112,574 Ozt. = 3,501.4 Kgs



Citation: Commercial Statistics;  John MacGregor (1844) p.755


The purity of Russian platina was presumed to be 65% (1843)


1843 Platina Yield:  ~203.35 Poud =  8,134 Funt = 107,094 Ozt. = 3,331 Kgs



Also, but likely in error, another Yield in German Thaler estimation for 1843:

1843 platina yield: 200.377 Poud = 8,015.1 Funt = 105,527.6 Ozt. = 3,282.3 Kgs = 14,039.15 Cologne Gold Marks (@ 7.51667 Ozt.) = 14,008.1 Berlin Gold Marks (@ 7.533 Ozt.)

= 7,019.57 Cologne Pfund Marks (@ 15.03 Ozt.) = 7,005. Berlin Pfund Marks (@ 15.06 Ozt.) ; so "8,028 Marks" = 60,307.5 Ozt. is a major discrepancy in calculation.

Citation: Neuer Schauplatz der Bergwerkskunde, Vol. 12 (1848) p.57

Donald MacDonald's explanation ignores the large Colombian export to Europe before 1843, c. 1840/1.

The issue of the rouble coins went on satisfactorily under Kankrin's watchful guidance and under the stimulus of this demand the output of the mines increased rapidly to some 60,000 ounces in 1830, reaching a record of about 120,000 ounces in 1843 but then declining rapidly. This was occasioned by a serious fall in the demand for platinum outside Russia, causing a fall in price in the western markets and a drop in production in Colombia. In 1843 the output there was only 1,600 ounces and in due course the price fell to a level lower than the exchange value of the Russian platinum coins. Kankrin, alarmed at the prospect of extensive counterfeiting, put a severe limitation on the amounts coined and strengthened his customs regulations at the frontiers.


Citation: Transactions of the Institution of Mining and Metallurgy, Vol. 21 (1912) p.650



1854: Approximately correct yield, with suspect valuation £ 14./lb. avd = 

1843?: 1 Troy Oz. Platinum (1854 Est.??) = £ 0.96




1843, not 1848:



1843: 1 Troy Ounce Pt (intrinsic?) = Preuss. Thlr. 6.8572 (USD$ 4.697)
1843: 1 Troy Oz Pt (intrinsic?) ~ 5.363 руб (USD$ 4.70)

1842: 1 Troy Oz. Platinum (pure, intrinsic, mkt) = USD$ 6.80

c.1840: 1 Troy Oz. platina (Low: importer's bulk) ~ USD$ 2.60

1841/2: 1 Troy Oz. retail platina = USD$ 4.39

Notably different, the English wholesale-retail price was stable from 1831-1855.

1843: 1 Troy Oz. Platinum (English catalogue: semi-mfg.) = £ 1.20 (USD$ 5.76) 


Here, the Source-Spot for unprocessed 'Platinum Black' was confused with a Paris Price for refined Iridium (selling much higher.)  But from 1834, it appears the Spot-Price for Platinum Black had fallen -62.22%


1834: 1 Troy Oz. Platinum-Black (SPb: residue) = руб Acc. 7.29; руб Ag 2.054

1843: 1 Troy Oz. 'Platinum-Black' (SPb mkt) = ~руб Acc. 2.83; руб Kr 0.776



The Great Demidov Platinum Nugget was found in Niznhi-Tagilsk in 1843. It weighed 23 Funt, 48 Zolotniks (9.624 Kgs, 25.7836 Troy Pounds, 309.4 Ozt.)

Colombia, 1802

1801-1802:

The Spanish King's Order of 30 October 1801 and Edict #729 (19 January 1802)  likely triggered a platina price spike on European markets.

Citation: Relaciones de los vireyes del Nuevo reino de Granada  ,  Relacion de Pedro Mendinueta (1802) p.

 

 Madrid, Spain, bust 2 escudos, Charles IV, 1801FA, contemporary counterfeit made in gold-plated PLATINUM. CT-342 (for type); KM-435.1 (for type). 6.8 grams. Slightly different details from genuine issues, the platinum revealed by slight wear on high points, AU grade. 

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:




.......

Germany, 1827

The Spring 1828 the retail Price of Platinum was the Price-of-Gold, but the reported Paris Price had suddenly dropped by half.  The Platinum Price kept falling through 1830, but that appears to have been a recent Low (by 1835.)

Where 1 Loth = 14.613 - 15.04 Grams or 1 Pfund 467.78 - 468.53 Grams 
1827?: 1 Troy Ounce Gold (Mkt) ~Fl 46.81 - Fl 46.83 


1827?: 1 Troy Ounce Platinum (Market, estimation) ~< Fl 23. ; Rthlr 12.83

Platina is much higher in value than silver and yet almost half that of gold.  Gold is more than 15 times as expensive as silver, usually on the Loth, 22 Fl., the Pfund to 704 Fl. 
 
c.1827?:  Manuscript not dated after 1827.

Citation: Umrisse zur Landes-, Volks- und Staats-Kunde von Bayern: Zum Gebrauche...Friedrich Wilhelm Walther (1833) p.249

31 January 1827: Intended Colombian Platinum rate (June 1826) reported nearly six month later in Germany.  The S$ was Rthlr. 1.374: 1 Onza was Rthlr. 8.244; where 1 Onza was 28.765 Grams (0.924816237 English Troy Ounce) :

1826: 1 Troy Oz Pt (Colombian Hypo.) = S$ 6.4878 (Rthlr. 8.65)

Where the Cologne Marc (233.856 g.; 7.52 ozt.) was $9.7253 in Peso Duro, 1 Troy Oz. Silver (in Prussia) = S$ 1.293;

Platinum Coinage.  In Colombia, the export of raw platina has been banned and this metal will now be minted there.   The parting of one Unze can be difficult, so pronounced at 12 Gran lighter by Mark-weight than an Unze of Silver or Gold, to cover seigniorage, and worth 6 Pesos.
 

 

October,1827: February 1827 Paris Price for refined metal (Fr. 898.58/Kg) and an undated  platina price for Chocó (likely, Cochrane's) is suspect and out-of-date.

In Nuremburg, February 1827 (Fl. 1 = Fr. 2.12-2.20)

1827: 1 Troy Oz. Platinum (Paris Mkt) = Fl 12.50-12.97 ; Rthlr. 6.873 - 7.15

The Messrs. Cuoq, Couturier and Co. in Paris have the largest bar of a platinum delivered, that has been yet made to date: it weighs 2,910 Once (89.03 Kgs) and is worth Fr. 80,000.  It was 15 years ago they introduced a great quantity to market and brought down the price by half.



Dubious compendium data.


 

Where 1 Preuss. Thaler = Fl 1.722167 and 1 Loth = 0.4701568 Ozt., 

Jan.-Mar. 1827: 1 Troy Oz. Pt (Paris Mkt) = Thlr 13.83 (Fl. 23.81)
Oct. 1827: 1 Troy Oz. Pt (Paris Mkt) = Thlr 11.70 - 10.64 (Fl. 20.20 - 18.37)





News of the massive platina yield for the first half of 1827 reached Bavaria in late November.  News from St. Petersburg to Central Europe, ~20 days.

Citation: J.C. Nelkenbrecher's Allgemeines Taschenbuch der Münz-: Maass- () p.129

Where 1 English Troy Ounce weighs 2.12695 Loth, so 1 Loth = 0.4701568 Ozt ; 14.6235108 Grams.   Therefore, 1 Kilogram = 68.38303 Loth

USA, 1827

1826/7:  US textbooks did not mention the Russian platina discovery of 1824

In the USA, Platinum was no longer scarce by late 1827.  Also, news from Cartagena reached New York in five weeks.

In October 1827,  a The Christian Advocate of Philadelphia reported news of large masses of Ural platina.  This accurately presupposes the falling price of the (formerly) rare commodity; implicit to "the first instance" comment is that Platinum was still sold at a high price in New York in late 1827.

Citation: The Christian Advocate, Vol. 5  (Oct. 1827) ; Ashbel Green

The Boston Medical Intelligencer (November, 1827) advertised "platina in wire & grains" from Samuel N. Brewer & Brothers, Druggists & Chemists at 90-92 Washington Street, Boston.

Gold premium, 1827:

New York to Liverpool: 25 days, +3 days to London
Liverpool to New York: 45 days, +3 days from London

Germany, 1825

Where 2.1875 Unzen = 2.06 Ozt, each medal would contain ~Thlr. 21.88 Platinum (@Thlr. 10.64)

Assuming 1 (Leipzig) Pfund = 32 Loths = 467.54 g. ; 1 Loth = 14.614 g., and where
1 (Frankfurt) Pfund = 32 Loths = 467.98 g. ; 1 Loth = 14.624 g.

May? 1825: 1 Ounce Platinum (Intrinsic) = Thlr. 7.2312 - 7.2365 (~Fr. 27.10)
September 1825: 1 Oz. Platinum (Intrinsic) = Thlr. 10.634 - 10.642 (~Fr. 38.86)

1825: 1 Oz. Pt Mfg (Labor) = Thlr. 4.54 (~Fr. 17.02)

October, 1825: 1 Oz. Platinum ( Intrinsic) = Thlr. 11.68 (Fr. 43.75)
October, 1825: 1 Oz. Platinum (Mfg, Medal Quote) = Thlr. 16.22 (Fr. 60.766)

Kanzler (Friedrich) von Müller an Soret, 24 Oktober 1825:
Verehrter Herr Hofrat, ich beeile mich , Ihnen zu melden , daß jede der Platinmedaillen 2.1875 Unzen wiegt . Nach der beiliegenden Auskunft eines hiesigen Goldschmieds bezahlt man in Leipzig und Frankfurt Platina mit 3 Thaler 12 Groschen bis 5 Thaler das Loth oder die halbe Unze . Die Medaillen dürften demnach allerhöchstens 21 Thaler 25 Groschen oder 81 Francs 80 Centimes kosten. Es wäre also recht und billig, den Preis um 35 francs pro Stück zu ermäßigen; Herstellung und Material (hierfür der Höchstpreis angesetzt) können unmöglich mehr als 90 Francs ausmachen; die Platinamedaille wurde uns aber mit 125 Francs berechnet.

Chancellor (Friedrich) Müller to Soret, 10/24/1825:
Dear Councillor, I hasten to report to you that each of the Platinum medals weighs 2.1875 Unzen. According to  information from a local goldsmith, Leipzig and Frankfurt pay for Platinum Thlr 3.40 to Thlr 5. per Loth or half Unze.  The medals should therefore cost {intrinsically} at most Thlr. 21.833 or Fr. 81.80. It would thus right and proper reduce the price {labor charge?} to Fr. 35 per piece; Manufacturing and material (for this is the maximum price set) can not possibly account for more than Fr. 90 francs; we calculated the Platinum Medal at Fr. 125.



The gold-price for a battery from Arnold of Munich (? & Kreuz: Glockenstraße 1262) 7" tall battery with Platinum & zinc element pair, including shipping & handling: Fl. 13.20.  

At Fl. 12 (£ 1.06) per battery, and contained within a 6" x 6" area, the tumbler itself may be presumed 5" diameter with a Platinum Foil of (max.) 4" wide and thus 6" tall.

Citation: Der Bayerische Landbote, Nr. 105, 2 September 1825
 

Russia, 1824

Reported in 1825:


von Humboldt's estimation was probably rough and incorrect. If true, however, the Platinum market price was nearly Fr. 35./once.

Rating 4,684.817 Kilogrammes of Fine Gold @Fr. 3,434.50/Kg. = Fr. 16,090,006.
Rating 5,700 Kilogrammes of Fine Gold @Fr. 3,434.50/Kg. = Fr. 19,576,650.

Deducting a maximum  33.17 Kgs Platinum @Fr. 1,123.68 = Fr. 37,272,

c.1824: 1 Troy Oz. Platinum (Paris Mkt) = Fr. 34.95

Citation: The Edinburgh Journal of Science, Vol.6 p.324



Source:


81 Funt = 1,066. Ozt (1893 citation)


73 Funt = 961. Ozt (1832 citation)

Citation: Narrative of a Visit to the Courts of Russia and Sweden: In the Year 1830 & 1831, Vol. 2;  Charles Colville Frankland (1832)






1836: No mention of any Platinum price fluctuation, in a quasi-official summary.

40.865 Funt = 538 Ozt.

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



October 3, 1823: A German-language newspaper in St. Petersburg first reported chemical analyses of 'white gold' as platina.

In the Fall of 1824 the amount of platina recovered was yet unknown, but historical data suggests an annual yield of 33 kilograms in 1824. The first major platina placer discovery was in May, 1824; the final Uralian caravans with appreciable amounts of the metal arrived in St. Petersburg by sledge around February 1825.

The seasonal port of St. Petersburg typically remained frozen and closed to export commerce until April/May. Although the port opened on 5 April 1825, flooding perhaps delayed normal business for several weeks longer. Therefore, at the earliest, the first significant quantities of Russian platina (1824) may have reached Paris and London markets after June 1825.

Citation: Journal für Chemie und Physik, Vol. 46; Johann Salomo Christoph Schweigger, Franz Wilhelm Schweigger-Seidel

Reported 14 November in Franfurt Am Main and 18 November, 1824 in Kaiserlich-Königlich privilegirter Bothe von und für Tirol und Vorarlberg, (Western Austria) :

Leaves Public Report from St. Petersburg 22 October 1824: According to reports, is expected before the end of this year, from the Ural gold mines, especially the Goldsandmäschereien, 200 poods, or 8,000 pfund of gold. part of the crown, but mostly individuals belonging. This significant mass, against 3,280 French kilograms, and beneath which there is sometimes Platina, is worth about one million ducats. At the beginning of this century, the annual yield from all over America to 17.291 kilograms, including those of Brazil : 6,873 kilograms. So Russia now gives about half as much gold as Brazil, and it is significant growth in the near future be expected. The processing of gold-washing has prompted several mine owners, to reduce the less profitable processing of iron and copper-rich, since Russia is now a major producer of copper, so this seems to expect a rise in copper prices can be.

Citation: Journal de pharmacie et de chimie (1895) p.132

1827: The major discovery was in 1825, but lesser placers with some platina were discovered in the Autumn of 1824. Russian Platina may have started arriving in Western Europe in the Winter of 1824, or by the Summer of 1825.

If the Pt was 538.2 ozt and the Au 37,390 ozt., only 1,180 kilos.

1822-4: Vasily Vasilyevitch Lyubarsky's analysis of the Ural ore confirms 60% Ir, 30% Os, 2% Pt.  This was well-known in Europe by 1829/30, after Berzelius, as M. Laugier had reported in July 1825.  Rastorgujers =




Misstating the Ir/Os purity:








1829:

Gold Yield, 1823-4:


Discovery in March, 1825; St. Petersburg news in June 1825?

Miner's salary  0.20 - 0.48 руб Acc.

Citation: Annales des voyages, de la géographie, de l'histoire et de l'archéologie 2nd Series, Vol 2, (Nov. 1826) p.116

Gold Yield, 1824 - 1848: