Described in 1851 a s 1 Kilogram, is was likely 900 Ounces.
Value?
Showing posts with label 1824. Show all posts
Showing posts with label 1824. Show all posts
December 4, 2016
May 8, 2013
Russia, 1918: Platinum Production, 19th C.
In 1918, if Gold was caculated at 4.5 Roubles per zolotnik
1918: 1 Troy Ounce Gold = 11.93 руб
Important summary of Russian Platinum production, 1824 -1917
Citation: The Journal of Industrial and Engineering Chemistry, Vol. 10 ; American Chemical Society p.921
Also:
January 4, 2012
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.
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
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:
December 15, 2011
UK, 1824: Platina ore adulterated
January-December, 1823: 1 Troy Oz. Platinum (refined) = £ 1.28 - £ 1.5039
In 1824, Dr. Wollaston recorded Rhodium receipts of £ 42.75
In an 1824 treatise, Accum's old partner Fredrick Joyce warned consumers of duff platina sold by vendors. Best quality ore samples were 55% - 65% Platinum, c. 1823/4.
c.1824
Citation Practical chemical mineralogy; or, Concise and easy methods ... for readily; Frederick Joyce, 1825
In 1824, Dr. Wollaston recorded Rhodium receipts of £ 42.75
In an 1824 treatise, Accum's old partner Fredrick Joyce warned consumers of duff platina sold by vendors. Best quality ore samples were 55% - 65% Platinum, c. 1823/4.
c.1824
Citation Practical chemical mineralogy; or, Concise and easy methods ... for readily; Frederick Joyce, 1825
In mid-1824 (?) a single cell of Wollaston's Voltaic battery cost £0.17 ; in 1825, a larger platino-zinc pile in Germany cost >5 x more. Assuming a common thickness and 120 sq. in. per English Troy Ounce, ~£1.10 for 160 sq. in. Pt (for the English set, in 1824) and ~£0.50 for 24 sq. in. Pt (for the single German unit, in 1825) makes German Platinum ~3.25x more expensive by weight, less than a year later.
Citation: The Chemist (November 1824) p. 158
c.1824 Suggestion of Gold Foil-covered Platinum counterfeit Sovereigns. The surface area of a full-weight, milled-edge Sovereign should be ~9.42 cm² (1.46 Sq. In.) Whereas a full-weight Sovereign ought to weigh 7.988 g. (.91665 Fine), a well-gilded counterfeit might have as much as 2.2 g. Gold alloy (~2 g. Fine Gold) with a Platinum alloy core weighing 5.8 g.
For the correct Specific Gravity (w/ Sb & Cu), which most counterfeiters failed to achieved, the Platinum alloy should have been between 87%-91% Pt (~5.10-5.30 g.)
Dr. Wollaston claimed his refined Platinum had a Specific Gravity between 21.25-21.5, but contemporaries preferred and noted the better quality or French crucibles.
Even assuming the an English counterfeiter already had the necessary tools (otherwise, a capital outlay), the purchase of refined Platinum was certainly not economical; commercial Platinum for the flan or planchet would have cost £ 0.25, before any cost for additional materials, labor and above any routine costs for such a criminal endeavor.
Given the extant technology prior to the 1830s (when cheap plating with Galvanic batteries was known), this particular type of false coining would not have been remunerative or profitable, unless the counterfeiter had been a chemist or refiner (such as a Mint employee) and with access to cheap ore.
November 7, 2011
Russia, 1824-30: First Stage of Russian Platinum Production
Even to contemporaries, the valuation of Platinum in 1824-28 was problematic, uncertain, sometimes incorrect. In the comment about the St. Petersburg Price Drop, the Russian Platina Price Peak may be dated to November-December, 1825.
1825/6: Assuming the Colombian platina ban was somewhat effective, the large French consumption in 1825 & 1826 can be explained by early Russian platina export.
Citation: Aperçu sur les monnaies russes et sur les monnaies étrangères ..., Vol. 1; Stanislav Shoduar(1836) p.147
1822-1823: Platina was found but not yet fully identified.
In early 1826, von Humboldt calculated the 1824 Oural mine output in Francs (@ Fr 19,500,000/ 5700*32.15.) and it appears that intrinsic Platinum was implied or inferred to the Price of Gold at the monopolist St. Petersburg Mint.
Decades later, authors mistakenly continued to cite this as an actual Russian market 'Gold Price' for the period. It is nowhere evident nor established that unrefined or refined platinum (platina) in Russia ever sold at an intrinsic rate equal to Gold.
The Paris Price for refined Platinum was also not so high, perhaps 2/3rds the Gold Price (in December, 1825) according to Breant's table. However, on other markets this confusion may have advantageously favored speculators as Paris Platinum rose episodically & stratospherically on rumors and shortages.
Decades later, authors mistakenly continued to cite this as an actual Russian market 'Gold Price' for the period. It is nowhere evident nor established that unrefined or refined platinum (platina) in Russia ever sold at an intrinsic rate equal to Gold.
The Paris Price for refined Platinum was also not so high, perhaps 2/3rds the Gold Price (in December, 1825) according to Breant's table. However, on other markets this confusion may have advantageously favored speculators as Paris Platinum rose episodically & stratospherically on rumors and shortages.
Citation: Le globe, Volume 3 (1827), p.478
An unconfirmed expert opinion looking back ~80 years. This is may be an erroneous forex calculation (in Paper Rouble rates), the discrepancies below noted.
1) Among contemporary observers, however, the highest Paris-reported period Price for Russian platina was ~ Fr 32. (<£ 1.50), nearly matching a London Price for Colombian ore circa 1825, ~£ 1.55.
2) If otherwise correct, an extraordinarily circumstance occurred: refined Platinum sold at market in Paris for less than the "Ural Price for Crude" cited below at the Peak (December, 1825.) Those traders purchasing w/gold or silver would have paid higher 'metallic equivalent rates' at a Peak - an exceedingly poor (and unlikely) trade at the Troy Ounce, indeed. Therefore, dubious estimations, 1819-27.
1) Among contemporary observers, however, the highest Paris-reported period Price for Russian platina was ~ Fr 32. (<£ 1.50), nearly matching a London Price for Colombian ore circa 1825, ~£ 1.55.
2) If otherwise correct, an extraordinarily circumstance occurred: refined Platinum sold at market in Paris for less than the "Ural Price for Crude" cited below at the Peak (December, 1825.) Those traders purchasing w/gold or silver would have paid higher 'metallic equivalent rates' at a Peak - an exceedingly poor (and unlikely) trade at the Troy Ounce, indeed. Therefore, dubious estimations, 1819-27.
1825: 1 Troy Ounce platina (ore, @ Silver Rouble rate) = £ 2.10 (USD$ 10.14)
Citation: The Mineral industry, Volume 17 (1908), p.718
1836:
Official Russian estimation (1824-34)
Citation:Handels-Geographie: Ein Handbuch für Handels-, Gewerbs-, Real- und andere... ; Adolph Nischwitz (1835) p.641
The platina demand in France 1824-1826 exceeded Russian production by ~20%; it seems likely Russian platina exported to Paris.
1822-31: Russian platina production and French platina imports, in Troy Ounces
1918 Historical Platinum Production Summary:
Citation: Traité de chimie appliquée aux arts; Jean-Baptiste Dumas (1833) p.432
The early Platinum years coincided with increasing Russian bond market volatility, with notably higher bond prices (& speculative activity?)
Poud, in English Troy Ounces and Marcs, etc.
As late as the 1860s, this sort of transport from the Ural placers was common. The caravan journey took 5 months?
August 18, 2011
Colombia, 1824
The ms. of José Manuel Restrepo was completed 3 June 1825; the first ~50 pages presumably date to late 1823. The official estimated annual gold yield in Chocó was very low, only 299 kilograms; where platina was assumed 4:10, the platina yield (1820-1824) is roughly estimated 119.6 kilgrams. It is doubtful there were 22,000 washers
Late 1823: 1 Troy Ounce platina (@ Choco) = S$0.5408
Late 1823: 1 Troy Oz. Gold (@ Choco) = S$ 13.52 - 15.21
[n. e.: en la edición de 1827 se hacía la siguiente anotación en pie de página:
* La parte mas abundante de platina en la provincia del Chocó es el canton de Novita, y las aguas que fluyen al rio San Juan. De las ocho partes de platina las siete son de Novita, y una de las minas de Quibdó ó Citará. No hay un dato positivo de la platina que se saca de las minas del Chocó; mas, conforme á un estado aproximado que formó el actual gobernador de aquella provincia coronel Pedro Murgucitio á solicitud mil son cuatrocientas libras poco mas ó menos las que dan sus minas cada año. Segun el mismo estado el oro que se estrae en un año por un medio tomado de un cuatrienio asciende á seiscientas cincuenta libras. He aquí lo que produce una poblacion de veinte y dos mil almas ocupada esclusivamente en lavar oro. La platina jamas se saca sola y siempre se halla mezclada con el oro. Es cierto que ninguno trabajaría una mina de platina cuando no son abundantes de este metal, y cuando su mayor valor apenas es de ocho pesos la libra, siendo asi que la de oro vale de doscientos á doscientos veinte y cinco pesos.
* In the province of Chocó, the most abundant portion of platina is from the city of Novita and the flowing waters of the San Juan River. Seven-eighths come from Novita, and one-eighth from the mines in Citará Pretoria. While there is no positive data on platina drawn from the mines of Chocó, according to a statement requested from the current governor of that province, Colonel Pedro Murgucitio, approximately four hundred libras (more or less) per thousand {libras Gold} are taken from the mines every year. According to the same source, the annual Gold yield (from a four year period) amounted to six hundred and fifty libras (299 kgs). This is what a total of 22,000 gold washers can produce. Platina is never found by itself, it's always mixed with gold. It is true that no one will work a platina mine when there is an abundance of this metal, as its greatest value is only eight dollars a pound, with gold well worth the two hundred to two hundred twenty-five dollars per libra.
Citation: Compendio de la historia de Colombia, José Manuel Restrepo (1827) p.44
The official report of May 1823 indicated no progress on the purification of platina by Colombian authorities.
European merchants made fortunes "trading platina" or rather smuggling it. Rising platina prices in Colombia and Jamaica anticipate by 3-4 months rising Continental Platinum Prices reported in von Humbolt's Paris price-record (1822-26.) Logically, London platina prices may have risen somewhat earlier than Paris, as British merchants carried most of the platina to European markets and had better information-networks for their shipping. Mentioning the imposition of a platina export ban, Cochrane cited the early 1824 price at S$ 8-10 Dollars/piastres per libra.
From Hurtado as the source, Cochrane estimates 914.25 - 1,015.75 kgs Au, plus 508 kgs Pt. (Local estimate, c.1823)
c. Late 1823: 1 Troy Ounce. platina (@ Choco) = S$0.5408
Late 1823: 1 Troy Ounce platina (@ Choco) = S$0.5408
Late 1823: 1 Troy Oz. Gold (@ Choco) = S$ 13.52 - 15.21
[n. e.: en la edición de 1827 se hacía la siguiente anotación en pie de página:
* La parte mas abundante de platina en la provincia del Chocó es el canton de Novita, y las aguas que fluyen al rio San Juan. De las ocho partes de platina las siete son de Novita, y una de las minas de Quibdó ó Citará. No hay un dato positivo de la platina que se saca de las minas del Chocó; mas, conforme á un estado aproximado que formó el actual gobernador de aquella provincia coronel Pedro Murgucitio á solicitud mil son cuatrocientas libras poco mas ó menos las que dan sus minas cada año. Segun el mismo estado el oro que se estrae en un año por un medio tomado de un cuatrienio asciende á seiscientas cincuenta libras. He aquí lo que produce una poblacion de veinte y dos mil almas ocupada esclusivamente en lavar oro. La platina jamas se saca sola y siempre se halla mezclada con el oro. Es cierto que ninguno trabajaría una mina de platina cuando no son abundantes de este metal, y cuando su mayor valor apenas es de ocho pesos la libra, siendo asi que la de oro vale de doscientos á doscientos veinte y cinco pesos.
* In the province of Chocó, the most abundant portion of platina is from the city of Novita and the flowing waters of the San Juan River. Seven-eighths come from Novita, and one-eighth from the mines in Citará Pretoria. While there is no positive data on platina drawn from the mines of Chocó, according to a statement requested from the current governor of that province, Colonel Pedro Murgucitio, approximately four hundred libras (more or less) per thousand {libras Gold} are taken from the mines every year. According to the same source, the annual Gold yield (from a four year period) amounted to six hundred and fifty libras (299 kgs). This is what a total of 22,000 gold washers can produce. Platina is never found by itself, it's always mixed with gold. It is true that no one will work a platina mine when there is an abundance of this metal, as its greatest value is only eight dollars a pound, with gold well worth the two hundred to two hundred twenty-five dollars per libra.
Citation: Compendio de la historia de Colombia, José Manuel Restrepo (1827) p.44
The official report of May 1823 indicated no progress on the purification of platina by Colombian authorities.
European merchants made fortunes "trading platina" or rather smuggling it. Rising platina prices in Colombia and Jamaica anticipate by 3-4 months rising Continental Platinum Prices reported in von Humbolt's Paris price-record (1822-26.) Logically, London platina prices may have risen somewhat earlier than Paris, as British merchants carried most of the platina to European markets and had better information-networks for their shipping. Mentioning the imposition of a platina export ban, Cochrane cited the early 1824 price at S$ 8-10 Dollars/piastres per libra.
From Hurtado as the source, Cochrane estimates 914.25 - 1,015.75 kgs Au, plus 508 kgs Pt. (Local estimate, c.1823)
c. Late 1823: 1 Troy Ounce. platina (@ Choco) = S$0.5408
c. February 1824: 1 Troy Oz. platina (@ Choco) = S$0.6792
Citation: Journal of a residence and travels in Colombia during the years ..., Vol. 1, Charles Stuart Cochrane (1825) p.421
Early 1823: Mollien noted the enormous stockpile of platina in Bogota, in 1823 platina was officially estimated at half the value of Gold. Prior to the Decree prohibiting platina export August 1823 (as reported by Mollien in October 1823 in the 1824 Edition.)
Citation: Journal of a residence and travels in Colombia during the years ..., Vol. 1, Charles Stuart Cochrane (1825) p.421
Early 1823: Mollien noted the enormous stockpile of platina in Bogota, in 1823 platina was officially estimated at half the value of Gold. Prior to the Decree prohibiting platina export August 1823 (as reported by Mollien in October 1823 in the 1824 Edition.)
November, 1823 @ Choco: 3 - 4 Spanish Piastres (Official Rate?)
November, 1823 @ Cartagena: ~6-8 Spanish Piastres
Official rate: 1 Troy Ounce platina (@ Choco) = $0.20 - 0.27 per troy ounce
1822: 1 Troy Ounce auro-platina (@ Choco) = S$10.24 per troy ounce
c.1825: 1 Troy Oz. Gold (high-grade ore @ Choco) = S$ 13.52 per troy ounce
c.1825: 1 Troy Oz. Gold (Contraband @ Jamaica) = S$ 16.90 per troy ounce
1822: 1 Troy Ounce auro-platina (@ Choco) = S$10.24 per troy ounce
c.1825: 1 Troy Oz. Gold (high-grade ore @ Choco) = S$ 13.52 per troy ounce
c.1825: 1 Troy Oz. Gold (Contraband @ Jamaica) = S$ 16.90 per troy ounce
1825 Edition, by then a dated price (1822/3):
A Castillan in Gold was 0.15 Troy Ounce, or S$ 1.50, or the local equivalent (in 1822) S$10.34 per English Troy ounce. In Spanish Dollars, Gold was 25% more valuable in Jamaica (S$ 12.75) an a commodity for European export & commercial trade.
January 1824: As reported early January 1824 by Cochrane, 8 - 10 Spanish Piastres ($) at the source; Gold was 25% higher in Jamaica.
c. January 1824: 1 Troy Oz. platina (@ Choco) = S$0.54
c. January 1824: 1 Troy Oz. platina (@ Cartagena) ~ S$0.72
c. September 1823: 1 Troy Oz. platina (@ Choco) = S$0.68
c. December 1823: 1 Troy Oz. platina (@ Choco) = S$0.54
c. September 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.85
c. December 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.68
At 46 kgs per Spanish quintal, Coffee sold at Caracas @ S$ 0.2174 - 0.228 per kg.
At 45.36 kgs per hundredweight, Coffee sold at London @ £ 0.13.23 (S$ 0.5879 per kg.), ~ 150% markup.
At 45.36 kgs per hundredweight, Coffee sold at London @ £ 0.13.23 (S$ 0.5879 per kg.), ~ 150% markup.
Die Regierung will jetzt aus Platin Geld münzen Da aber die Britten für das Pf 10 Piaster zahlen so geht sie im Schleichhandel nach Jamaica.
European merchants made fortunes "trading platina," or rather smuggling it. Rising platina prices in Cartagena or Jamaica have anticipated by 3-4 months the rising Continental Platinum Price, such as von Humbolt's Paris price-record (1822 - 1826.)
Logically, London platina prices may have risen somewhat earlier than Paris, as British merchants carried most of the platina to European markets and had better information-networks for their shipping. Mentioning the imposition of a platina export ban, Cochrane cited the early 1824 price at 8-10 Dollars/piastres per libra, the Choco precious metal yield (2:1 Gold/Platina) and the annual platina yield 460.1 kgs.
Citation: Journal of a residence and travels in Colombia during the years ..., Volume 1, Charles Stuart Cochrane (1825)
Citation: Journal of a residence and travels in Colombia during the years ..., Vol. 1, Charles Stuart Cochrane (1825)
Early 1823: Mollien noted the enormous stockpile of platina in Bogota, in 1823 platina was officially estimated at half the value of Gold. Prior to the Decree prohibiting platina export August 1823 (as reported by Mollien in October 1823 in the 1824 Edition.)
November, 1823 @ Choco: 3 - 4 Spanish Piastres (Official Rate?)
November, 1823 @ Cartagena: ~6-8 Spanish Piastres
Official rate: 1 Troy Ounce platina (@ Choco) = $0.20 - 0.27 per troy ounce
1822: 1 Troy Ounce auro-platina (Colombia: mkt) = S$10.24 per troy ounce
c.1825: 1 Troy Ounce Gold (Mint: Gold Dust) = S$ 13.50
c.1825: 1 Troy Ounce Gold (Jamaica: Gold Dust mkt price) = S$ 16.90
1822: 1 Troy Ounce auro-platina (Colombia: mkt) = S$10.24 per troy ounce
c.1825: 1 Troy Ounce Gold (Mint: Gold Dust) = S$ 13.50
c.1825: 1 Troy Ounce Gold (Jamaica: Gold Dust mkt price) = S$ 16.90
1825 Edition, by then a dated price:
A Castillan in Gold was 0.15 Troy Ounce, or S$ 1.50, or the local equivalent (in 1822) S$ 10.34 per English Troy ounce. In Spanish Dollars, Gold was 25% more valuable in Jamaica (S$ 12.75) an a commodity for European export & commercial trade.
c. March, 1823: Notes on Colombia, taken in the years 1822-3: Appendix C, p. 302
"Gold Dust from Choco, 1st Quality $200 per lb.; Platinum, (crude), from $4 to 6 per lb."
January - March, 1823: 1 Troy Oz. platina (@ Choco) = $0.34 - 0.61
"Gold Dust from Choco, 1st Quality $200 per lb.; Platinum, (crude), from $4 to 6 per lb."
January - March, 1823: 1 Troy Oz. platina (@ Choco) = $0.34 - 0.61
January 1824: As reported early January 1824 by Cochrane, 8 - 10 Spanish Piastres ($) at the source; Gold was 25% higher in Jamaica.
c. January 1824: 1 Troy Oz. platina (@ Choco) = S$0.54
c. January 1824: 1 Troy Oz. platina (@ Cartagena) ~ S$0.72
c. September 1823: 1 Troy Oz. platina (@ Choco) = S$0.68
c. December 1823: 1 Troy Oz. platina (@ Choco) = S$0.54
c. September 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.85
c. December 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.68
Where the Spanish libra was 460 grams or 14.792 English Troy Ounces, Gold sold at Cartagena for
1823/4: 1 Troy Oz. Gold (dust@ Cartagena) = S$ 13.521
1823/4: 1 Troy Oz. Gold (dust@ Jamaica) = S$ 16.90
Where the Spanish libra was 460 grams or 14.792 English Troy Ounces, Gold sold at Cartagena for
1823/4: 1 Troy Oz. Gold (dust@ Cartagena) = S$ 13.521
1823/4: 1 Troy Oz. Gold (dust@ Jamaica) = S$ 16.90
The highest Pt/Au ratio, 3:1 was confirmed by USGS in 1969 (Geological Survey professional paper, Volumes 630-631) for two areas only, the Condo and Iró River districts. Prices paid (in currency, or traded goods' value) for native platina at these locales would represent the true 'Colombia Source Spot-Price' in all periods prior to the Russian discovery.
Higher prices encouraged a 'search for platina' in the 1820s.
c. 1822 - 1828:
Citation: An Encyclopaedia of Geography ; Hugh Murray(1834)
The Colombian government paid for Gold in depreciated paper, so even the official price is misleading. Also unknown is the merchants' price for Gold dust. It was widely believed that 3/5ths of the precious metals were traded with British merchants for British manufactures during this period (1818-1825), at unknown rates (Colombian Gold dust for British manufactures.)
"Gold, Silver and platina will pile up almost exclusively in the ports of Great Britain."
Citation: Bulletin universel des sciences et de l'industrie. 6 ..., Vol. 3 ; Société pour la propagation des connaissances scientifiques et industrielles Paris (1825)
c. 1822 - 1828:
Citation: An Encyclopaedia of Geography ; Hugh Murray(1834)
The Colombian government paid for Gold in depreciated paper, so even the official price is misleading. Also unknown is the merchants' price for Gold dust. It was widely believed that 3/5ths of the precious metals were traded with British merchants for British manufactures during this period (1818-1825), at unknown rates (Colombian Gold dust for British manufactures.)
"Gold, Silver and platina will pile up almost exclusively in the ports of Great Britain."
Citation: Bulletin universel des sciences et de l'industrie. 6 ..., Vol. 3 ; Société pour la propagation des connaissances scientifiques et industrielles Paris (1825)
c. December 1824:
Citation: Travels through the interior provinces of Colombia; John Potter Hamilton (1827)
1824: Prices
1 Fish (Salmonetta) 60 lbs = $1.
1 arroba tobacco (best quality) = S$ 5.
260 lbs dye-wood = S$ 8.
1 horse (fine quality) = S$ 200.
Bouga: Population =
Alluvial mining operation: 12 slave women, 4 days of work
News from Bogotá, via New York, reached Milano ITALY 17 weeks (+4 months) later.
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