If the Mint cost, as noted, was 6,714.24 руб Acc. per Poud, the SPb Mint the first base cost for 'pure' Pt was 409.89 руб Acc./Kg (= £ 17.08; Fr 437.55; ~USD$ 84.47-85.13).
Kancrin also estimated the London Price of Platinum @ 771.62 руб Acc./Kg (£ 32.15)
If the Russian Government paid 2,300 руб Acc. per Poud, Kancrin's estimate was wildly mistaken; instead, it appears the 20th C. observers have misstated and miscalculated the contemporary Banco/Silver Rouble rates.
From Kancrin's cost estimate for 70% ore, delivered at SPb: 1,372.57 руб Ag, or 83.79 руб Ag/Kg.; and for refined 1,591.47 руб Ag, or 97.16 руб Ag/Kg.
By the Russian Poud, 1 Kg. Platinum at the SPb Mint was sold @ 1,172.13 руб Kr in 1827.
.... 1 Kg SPb Platinum (8/1827) = £ 48.84; Fr 1,251.20 ; ~USD$ 241.55 - 243.44
c.1827: 1 Troy Ounce platina (SPb)= 4.3673 руб Acc. (1.1704 руб Ag)
Citation: Transactions of the Institution of Mining and Metallurgy, Vol. 21 (1912) p.650
c.1827-1832: 1 Troy Oz. Platinum (SPb)= 34.18 руб Acc. (9.18 руб Ag)
Qiring's estimate errs in calculating the Silver Rouble rate.
Citation: Die metallischen rohstoffe, ihre lagerungsverhältniss und ihre wirtschaftliche bedeutung..., Vol. 16 (1962) Heinrich Quiring
"1826/27 wurde in St. Petersburg Rohplatin mit 171.5 Rubel, reinplatin mit 283 Rubel je kg. bewertet."
Citation: Bulletin universal des sciences et de líndustrie..., Vol. 9 (1828) p.3
July, 1827:
7/27: 1 Troy Ounce platina (SPb: 71.37% pure) ~ 15.61 руб Acc. ~ 4.19 руб (Ag)
7/27: 1 Troy Ounce platina (SPb)= 21.87664 руб Acc. ~ 5.873 руб (Ag)
7/27: 1 Troy Oz. Pt (SPb: refining 'cost') ~ 7.292 руб Acc. ~ 1.9575 руб (Ag)
7/27: 1 Troy Oz. Pt (SPb: refining price) ~ 11.303 руб Acc. ~ 3.0342 руб (Ag)
7/1827: 1 Troy Oz. Pt (SPb, sponge) = 29.16885 руб Acc. ~ 7.83 руб (Ag)
7/1827: 1 Troy Oz. Pt (SPb: semi-mfg) = 36.46107 руб Acc. ~ 9.7875 руб (Ag)
July, 1827: 1 Troy Oz. Platinum (Paris retail) = 32.16 руб Acc. ~ 8.633 руб (Ag)
From von Humboldt's data, Count Kankrin estimated the average Chocó platinum yield to be 20,012.5 ozt (~622.5 kgs.) Kankrin also estimated the platina purity at 71.36735%, so
1827: 1 Troy Oz. Platinum (Cost Basis) = 17.866 руб Acc. ~4.796 руб (Ag)
He estimated the Platinum value at 4.41 руб Banco per Solotnik (equivalent to the Paris Price) so:
1827: 1 Troy Oz. Platinum (cited UK Price) = 24. руб Acc. ~6.44 руб (Ag)
1827: 1 Troy Oz. Platinum (Cancrin's est.) = 32.16 руб Acc. ~ 8.633 руб (Ag)
1827: 1 Troy Oz. platina (miner cost, at purity) = 11 руб Acc. ~ 2.95 руб (Ag)
1827: 1 Troy Oz. Pt (refiner cost) = 1.75 руб Acc. ~ 0.47 руб (Ag)
1827: 1 Troy Oz. Platinum (First Base Cost) = 12.75 руб Acc. ~ 3.423 руб (Ag)
1827: Miner Cost (Russia) = £ 0.4584 ; Fr 11.74
1827: Refiner Cost (Russia) = £ 0.0731 ; Fr 1.872
1827: First Base Cost (Russia) = £ 0.5315 ; Fr 13.612
1827: 1 Troy Oz. platina (SPb: 80% pure) = £ 0.73 ; Fr 18.70
1827: 1 Troy Oz. platina (SPb: at purity) = £ 0.9115 ; Fr 23.34
1827: 1 Troy Oz. Pt (SPb, sponge) = £ 1.215 ; Fr 31.12
1827: 1 Troy Oz. Pt (SPb, semi-mfg) = £ 1.519 ; Fr 38.90
"It is not likely that the expected global supply of Platinum will even increase much, because after your own estimation of the gold-yield from Choco is 10,800 marks, assuming a full third of which is Platina, will come out to about 3,000 marks, or nearly 38 pouds."
Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...Alexander von Humboldt, Egor F. Kankrin
"In any case, it's unlikely to suddenly happen that the collapsing value of platina and Münzemanation (coin debasement?) can be circumstantially foreseen. Therefore, I believe that no interfering coin confusion could arise."
"How have I valued the coin? Platina to silver is calculated at '5 to 1.' The value of legal Rouble-weight in Platinum would be 5.7526 Roubles (this deviates from the calculations of the last letter somewhat) and with seigniorage of approximately 24 Kopecks per Six Silver Roubles; half Rouble-weight so 3 Roubles, and this should be the smallest coin struck. Platinum would then be worth to 4.41 руб Banco per Zolotnik, and therefore isn't excessively profitable over the mining cost.
In the case that the proportion of 5 to 1 would be too high, I would have suggested of 4.25, where the weight Platinum would make 5 Roubles silver, but that would puts Zolotnik at 3.75 Roubles Banco. This coin is not as uncomfortable as it was only the size of half a Rouble; beat to a 2.5, but it would not quite fit.
If both ratios to be high, it might be to go even safer, the Rouble weight Platina to 4 and take half to 2 Roubles silver coin. This would be the proportion of 3.25 to 1, the value of 3.74 rubles weight fraudulent rubles silver coin and a seigniorage of 26 Kopecks, 4 rubles, ie 2 half rubles, a very suitable coin. In paper this would be 2.865 руб Banco per Solotnik, which still came out a little advantage, or no one would give his Platina to be coined. You can broadly estimate production of 10 Solotniks raw Platina costs 15.08 руб Banco. The cleaning cost is about 2.405 руб Banco, 17.485 руб Banco in total. The pure Platinum obtained will be 7 Solotniks, so pure Platinum comes to 2.495 руб Banco per Solotnik. Against the 3.25:1 ratio, the profit, except for Seigniorage, is therefore only 0.37 руб Banco.
However, contrary to this insignificant profit trade prices. After just received news from London Platina troy ounce can be sold in bars for twenty shillings, which account for about 24 rubles paper. After that, the Solotnik such Platina would come to 3.29 Rubles paper. The value of silver is o.23703 руб Banco per Solotnik, so the relation of Platina to silver would be in this case as 3.73:1. It follows that the proportion of 3.25:1 is too low."
1827 Platina Yield (at Mint Price, Retail)
13,561 Ozt : 296,638 руб Acc. = 79,499 - 79,849 руб Ag
.... @ £ 0.1542 руб Ag: £ 12,256 - 12,310 ; @ £ 0.0427 руб Acc. : £ 12,669
1827: 1 Troy Oz. platina = £ 0.9038 - £ 0.9342
Citation: Narrative of a Visit to the Courts of Russia and Sweden: In the Year 1830 & 1831, Vol. 2; Charles Colville Frankland (1832)
Citation: St. Petersburgh, a journal of travels to and from that capital, Vol. 2; Augustus Bozzi Granville (1828) p.158
'Common platina' bluish tint: Specific Gravity of 17. - 17.61 = ~72% Pt
Better quality nuggets (Specific Gravity of 19.17) were 80.9% Pt, 11.07% Rh, 1.64% Pd
No. 1: A Platinum Pattern-piece, struck on the Rouble Die (1827?)
Weight: 8 Sol. 42 Th. (35.99 g. = 1.572 Ozt) -- The Onza was 28.76g. ; 0.92466 Ozt)
No. 8: The largest Coronation Medal.
Perhaps Bonham's 8 Dec 2010, Auction 18404 Lot 1034: a Coronation Medal weighing 15.6 g sold for USD$ 12,870 (incl premium) 1,388.4% over Spot.
Citation: Im Ural und Altai Alexander von Humboldt (1869) p.5Found in 1827, reported in Europe February 1828.
1836: Russian 10.5625 Funt = 4.326 Kgs (9.536 Lbs avd.) ~66% Pt, ~68% PGMs
June 1827: The largest platina mass then found, 4.33 kgs (~12 English Troy Pounds, 139 Ozt)
Largest Nugget 'yet discovered' in June 1827, reported in St. Petersburg August 1827 (+1.5 months), Southern Germany (+2 months), in London October 1827 (+3.5 months), on the Eastern seaboard USA by January 1828 - a delay of +7 months.
The 1827 Nugget weighed 10.5625 фунт (139.067 Ozt; 4.3255 Kgs) at 50% Pt
Still described & reported by travelers as "the largest nugget," as late as 1835 (1838)
Außerordentliche Beilage zur Allgemeinen Zeitung 1827. Nr. 43. (12/8/1827)
Von den in Sibirien aufgefundenen gediegenen Platina-Massen.
Extra Supplement to the Allgemeine Zeitung in 1827. No. 43 (12/8/1827)
On the discovery in Siberia of solid platina nuggets.
1827 Platinum Yield of Urals, as reported in 1829:
13,557 Ozt. = 25.74 Pouds
1827: 1 Troy Oz. Platinum (SPb) ~ руб Acc 9.85 - 10.09 (£ 0.420447)
1827: 16.564 Pouds ~8,723 Oz, ~ 271.33 Kgs.
Citation: The Encyclopaedia Britannica: Or, Dictionary of Arts..., Vol. 7; Vol. 15 (1842) p.254
Purity of Ural platina
1827: Purity of platina sold at SPb Mint: 81%
