Colombia, 1846

An October 1846 storm hit Havana, sank a Liverpool vessel with 1,372 ounces of platina.

8/31/1846: Where 79.2 Libras (= 1,169 Ozt.) x ~C$59.66/Libra = C$ 4,725, so

8/31/1846: 1 Ozt. Pt (Tariff Export Price: Colombian ore, .999) = C$ 4.04

Citation: Gaceta oficial, (10/25/1846) Issue 828 Trm. 62: p.4

UK, 1806-1846: Falling Price of English Bar Iron

English Bar Iron Price at Liverpool

UK, 1846

In 1845, refined & manufactured Platinum retailed 4x higher than refined Silver and 1/6 the Price of Fine Gold. The wholesale ratio Pt & Ag appears the same.

1843: 1 Troy Oz. Platinum (semi-mfg, whols.) = £ 1.20 - 1.75 (USD$ 5.76 - 8.38)

1845: 1 Troy Oz. Platinum (UK Mkt: 75%) = £ 1.125 (USD$ 5.47)

1845: 1 Troy Oz. Platinum (UK Mkt: 75%) = £ 1.125 (USD$ 5.47)


1846: 1 Troy Oz. Platinum (StPb: Refined, Mint) = £ 1.1051 - 1.1052
 
1846: 1 Troy Oz. Platinum (UK Mkt: Intrinsic) = £ 1.50 (USD$ 7.294)
1846: 1 Troy Oz. Platinum (UK Mkt: Intrinsic) = £ 1.60 (USD$ 7.78)

1846: 1 Troy Oz. Platinum (UK Semi-Mfg, Whols.) = £ 1.75 (USD$ 8.51)
1846: 1 Troy Oz. Platinum (UK Mfg, Whols) = £ 2.10 (USD$ 10.21)
 
1846: 1 Troy Oz. Platinum (UK Semi-Mfg, Ret.) ~ £ 1.85 (USD$ 9.)
1846: 1 Troy Oz. Platinum (UK Mfg, Ret.) ~ £ 2.35 (USD$ 11.42)

1846: 1 Troy Oz. Silver (Sterling) = £ 0.25
1846: 1 Troy Oz. Silver (pure) = £ 0.28
1846: 1 Troy Oz. Silver (mfg, retail) = £ 0.45


Citation: The British quarterly review, Vol. 4 ; Robert Vaughan (1846) p.91





Refined Platinum was sold 6x higher than Silver ore.




Refined Platinum was sold retail about half the 'common price' of Gold:

Citation: A technological dictionary: explaining the terms of the arts, sciences ...W. M. Buchanan (1846) p.572




1845: 1 Troy Oz. Platinum (semi-mfg, Retail) = £ 2.00 (USD$ 9.74)
1845: 1 Troy Oz. Silver (semi-mfg, Retail) = £ 0.50 (USD$ 2.44)
1845: 1 Troy Oz. Gold (semi-mfg, Retail) = £ 12.00 (USD$ 58.32)

Citation: A treatise on optical drawing instruments. Also A method of preserving... Charles Varley (1845) pp. 96,101








Artinsal platino-silver vase, c.1844: exorbitant rate or weight.


Newman's 1845 listed no price for Platinum, but the Platinum blowpipe was 2.78x more expensive than the Silver. It would be a mistake to think these different PM items were the same size or weight. Adjusting for mass/weight (2.05x greater for Pt) Silver = 10.49 grams per cubic centimeter and Platinum = 21.5 grams per cubic centimeter.

Less volatile manufactured Silver prices known, the Silver blowpipe weighed <56 grams (to perhaps an ounce and a half, troy) and the Platinum 'Wollaston's Pocket blowpipe' likely weighed <37 grams (to a troy ounce or so.)

1845: 1 Troy Oz. Platinum (mfg, whols) = £ 2.10
1845: 1 Troy Oz. Silver (mfg, 9s. 9d. Stowe's Catalogue price) = £ 0.50

Citation: A treatise on optical drawing instruments. Also A method of preserving, (1845) pp. 96,101

Newman's 1852 & 1856 Catalogues had identical prices for "Platinum Plates"; likewise estimated, ~ 2 troy oz. or less.

1856: 1 Troy Oz. Platinum (semi-mfg, whols.) ~ £ 1.60

Assuming Grove's Sheet Battery, ea.: Pt 9.41 Grams/ 145.2 Grains Troy = £ 0.55 (USD$ 2.70), nearly the same price as 1853 elsewhere. 

1852: 

c. 1845/6:

In 1846 Nicholas J. Callan published a paper entitled On a new voltaic battery;  in a Grove's Battery, he replaced a Platinum Foil with a piece of lead (0.15875 cm x 5.08 cm x 7.62 cm = 6.14515 cm³) "the same size." The Platinum Foil at 6.14515 cm³ and a presumed density of 21.37 (21.37 Grams per cm³), the "same size" foil should weigh ~ 131.3218 Grams or 4.22 Ozt. At B.P.G. 18, 2" x 3" Platinum should weigh 4.15 Ozt.

For "nearly £ 3." this amount of Platinum was excessively "cheap" and probably far too thick for typical Battery use. Instead, the foil might be half as thin and weigh 2.11 ozt.

1846: 1Troy Oz. Platinum (Foil, Estimate) ~ £ 1.60

Citation: The Farmer and Mechanic, Vol. 1; Ed. William Holt Starr 10/21/1847 p.507
 

"One square foot" is normally understood to mean 144 square inches (Sq In) : as the double-sided area of a single foil would be 72 sq. in. per side = 8.45" x 8.45", 6" x 12", etc.

Assuming 'Thin Foil', a 12" x 12" Sheet (144 Sq. In.) would weigh 57.60 Grams (1.852 Ozt)

In the correct calculation however, "12 Square Inches" of area (or 6 sq.in. per side) should be a foil 3.464" x 3.464", 2" x 3", etc.


Grove's Battery, 1840s?

Colombia, 1846

Where 8,020.5 Libras = 16,041 Marcos Fine Gold, only C$ 398, 248 in Gold Coin was produced. (Too low!) However, the value of the Gold

1846: 1 Troy Ounce Gold (Colombian Ore price) = £ 3.1277

Citation: Commercial Statistics. John MacGregor (1848) p.278


(Erroneously?) assuming USD$ 20.50/Ozt.

 

Previous editions did not include this data.

c.1846: Assay of Colombian platina 84% - 85% Pt

Citation: Histoire naturelle des drogues simples ou cours d'histoire naturelle, Vol. 1;  Nicolas Jean Baptiste Gaston Guibourt

Russia, 1846

In 1827, the SPb Mint was sold 1 Kg. Platinum @ 1,172.13 руб Kr in 1827.
.... 1 Kg SPb Platinum (8/1827) = £ 48.84;  Fr 1,251.20 ; ~USD$ 241.55 - 243.44
 
Where the Russian Poud was 16.3805 Kgs @ 3,499 руб Kr, 1 Kg. Pt ('Fine') cost 213.61 руб Kr in 1846. 
 .... 1 Kilogram Mint-Refined Platinum £ 33.793;  Fr 866.21 ; ~USD$ 160.

1846: 1 Troy Ounce platina (StPb rate, 75% ore) =    руб Ag
1846: 1 Troy Oz. Platinum (StPb rate: SG 21.5) = 6.644 руб Kr
1846: 1 Ozt Pt (+Assumed Refined Cost руб Kr. 1.1156) = 7.76 руб Kr.

1846: 1 Troy Oz. Alluvial Gold (22 carat?) = 30.84 руб

Where the Poud was 526.6447 English Troy Ounces,  
1846: Gold Yield: 336.587 Poud= 13,463.48 Funt= 177,261.8 Ozt= 5,513.46 Kgs


1847: platina yield: 0.474 Poud = 18.9583 Funt = 249.61 Ozt. = 7.764 Kgs




c. 1846: Ural Price for 70% ore

1846: 1 Troy Ounce platina (Ural rate, 70% ore) = 1.1393 руб Kr
1846: 1 Troy Oz Pt (Ural rate, Intrinsic) = 1.6276 руб Kr

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


1846:

1847:

 

Export:



Platinum Price Fell:

Citation: Journal of the Society of Chemical Industry, Vol. 9 (May 31, 1904) p.568

1846 Gold Yield:

Germany, 1846

Where 1 kilogram =  Fl 373.7337 = Fr 800.,

Estimating the intrinsic Platinum value in Bavaria, by the Paris Price:

1846: 1 Troy Oz. Platinum (intrinsic) = Fl 11.62 (USD$ 4.52)

1846: 1 Troy Oz. Platinum (intrinsic) = Fr 24.88 (USD$ 4.79)

Citation: Dinglers polytechnisches journal, Vol.104; Ed. Johann Gottfried Dingler, Emil Maximilian Dingler (1846) p.204p.429

1847/8:

Russia, 1866: Low Price in Roubles

1866: 1 Troy Ounce Platinum (mkt: sponge, whols.) = Fr 14.2143 - 17.0758 ($2.843-3.415)

1866: 1 Troy Oz. Platinum (mkt) = 3.554-4.269 руб Silver ($ 2.66- 3.20)

1867: 1 Troy Oz. Platinum (Paris) = 5.89 руб ; Fr. 23.55= US Gold $ 4.41; USD$ 6.107

"According to reliable sources, the price per kg. of purified Russian platinum in 1865 was 501 francs and in 1866 from only 457 to 549 francs."

Spink & Son : The Numismatic Circular, Vol. 15, May 1907 p. 9885: 

"Nach zuverlässigen Quellen betrug der Kilopreis des gereinigten russischen Platins im Jahre 1865 501 Francs und 1866 gar nur 457 bis 549 Francs."

Citation: Bulletin de statistique et de législation comparée, Vol. 56 (1904) p.644

 
The 1866 Low is also cited in French Francs here.

1846: 1 Troy Ounce Platinum: 6.64 руб

1850: 1 Ozt. Platinum: 5.83 руб

1851: 1 Ozt. Platinum: 5.84 руб 

1859: 1 Ozt. Platinum: 5.58 руб

1860: 1 Ozt. Platinum: 4.28 руб

1866: 1 Ozt. Platinum: 3.56 руб    



At the Poud Rate of 1,877 руб Kr.

1866: 1 Ozt. Pt (SPb, Bulk Ore @SG 21.5) = 3.5641 руб Kr.
1866: 1 Ozt. Pt (+Assumed Refined Cost руб Kr. 1.1156) = 4.68 руб Kr.

Citation: Journal of the Society of Chemical Industry, Vol. 23  Society of Chemical Industry, GB (1904) p.568

France, 1846: Deluil's Catalogue ; Lerours & Secretan (Paris)

November 1845: Nicolas Louis Vauquelin's Catalogue (?)

Citation: Revue scientifique et industrielle, Vol. 23 (11/1845) p.309



1845/6: 1 Troy Ounce platina (Ore 75%, Retail) = Fr 24.88 (USD$ 4.56)
1845/6: 1 Ozt. Pt (Ore @.999, Ret.) = Fr 33.18 (USD$ 6.08) 
1845/6: 1 Ozt. Platinum (Refined, Ret.) = Fr 24.88 (USD$ 4.56)
1845/6: 1 Ozt. Platinum (Ingot, Ret.) = Fr 24.88 (USD$ 4.56) 
1845/6: 1 Ozt. Platinum-Black (Residue, Ret.) = Fr 62.21 (USD$ 11.41)


1845/6: 1 Ozt. Palladium (Refined, Retail) = Fr 124.41 (USD$ 22.82)




1845/6: 1 Ozt. Iridium (Ore?, Retail) = Fr 93.31 (USD$ 17.11)
1845/6: 1 Ozt. Osmiridium (Ore, Retail) = Fr 46.66 (USD$ 8.56)







1845/6: 1 Ozt. Platinous Chloride (PtCl2, Ret.) = Fr 31.103 (USD$ 5.70)
1845/6: 1 Ozt. Platinous Chloride (, Ret.) = Fr 31.103 (USD$ 5.70)


1845/6: 1 Ozt. Platinum Oxide (PtO2, Ret.) = Fr. 37.32 (USD$ 6.84)



1846: 1 Ozt. Platinum (Producer, Intrinsic)  = Fr 24.88 (USD$ 4.56)

a) Cited by Dingler (1846) the intrinsic rate was about 75% lower than Platinumware in catalogues. 


b) M. Deleuil's Catalogue des instruments de physique, de chimie, d’optique de mathématiques, de chirurgie, d’hygiene et d’economie domestique... (Paris : Impr. D’A. Rene et Cie, 1846) 

An 1846 Paris catalogue records the 3 Fr price of a one gramme weight in Platinum (p.7) and
  
"1  élément de Growe, en platine..... 25[Fr]" (p.30) and "971 Creusets en platine et capsules.... de 10 à 30 [Fr]" ; "Petites cuillères en platine, avec manche.....de 5 à 10 [Fr]" ; "Lames en platines et fil en platine, le gramme  à 1 Fr 50." (p.43)   

Reference to current prices (volatility?) and additional charges for the fabrication of Platinumware are also noted.

M. Deleuil's Catalogue des instruments de physique, de chimie, d’optique de mathématiques, de chirurgie, d’hygiene et d’economie domestique... (Paris : Impr. D’A. Rene et Cie, 1846)


1846: 1 Troy Oz. Platinum (Semi-Mfg., Trade)  = Fr. 46.65 ($USD 8.56)
1846: 1 Troy Oz. Platinum (Mfg., Trade)  = Fr. 93.30 ($USD 17.11)



c)  Lerebours et Secretan's Catalogue et prix des instruments d’optique, de physique, de chimie, de mathématiques, d’astronomie et de marine : qui se trouvent ou s’exécutent dans les magasins et ateliers (Paris : Typographie Plon Freres, 1846.) 

1846: 1 Troy Ounce Platinum (identical?) = Fr 46.65  (USD $ 8.56)


p. 55 "Un  élément avec de pinces et lanieres, en platine.....  7 [Fr]" 
"Batteries de six éléments... 40 [Fr]; de 10... 65 [Fr]; de 20... 130 [Fr]" 
p. 81 "788 Fils de platine, au poids, suivant le cours; 789 Creusets et capsules en platine.... de 10 à 30 [Fr]"

d) Another Paris Catalogue didn't even bother to describe capsule or dish weights, perhaps due to price volatility in 1845.  Otherwise, the same wholesale prices for the same items:

1845: 1 Troy Oz. platina (Paris: Ore, Retail)  = Fr 29.  (USD$ 5.39)  ??
1845: 1 Troy Oz. platinum (Sponge?)  = Fr 31.1  (USD$ 5.97)
1845: 1 Troy Oz. Platinum (Semi-Mfg., Ret.)  = Fr 38.88 - 46.75 (USD$ 7.50 - 8.97)   
1845: 1 Troy Oz. Platinum (Semi-Mfg., Ret.)  = Fr 46.65 ($USD 8.99) 

1845: 1 Troy Oz. Platinum (Official, Intrinsic)  = Fr 31.10 ($USD 5.97)

c. 1846:

1846: 1 Ozt Pt. (Scrap, Mkt) = Fr 24.88 (USD$)

Citation: Kunst- und Gewerbeblatt des Polytechnischen Vereins für das ..., Vol. 33 (1847) p.549


c:1845/6:

1845: 1 Troy Oz. Platinum (Mfg., Bulk) ~ Fr 30.722 ($USD 5.926)

Citation : Précis de chimie industrielle: à l'usage des écoles préparatoires ; Anselme Payen (1851) p.124


Same data, published the the late 1870s!


1847?
 

Study of 1847:



1846:
 

Iridium Demand in pens, rising: Mallat's Pen

USA, 1840s: Erratic Platinum Rise

The formal de-monetization of the Platinum Rouble (and the subsequent breakdown of  Russian mining operations) triggered global price fluctuations that lately effected US prices. As production ceased, supplies briefly became strained c. 1847,  indicated by higher US prices.  Most platina probably came via the Caribbean.

US tariffs on refined Platinum products encouraged fledgling US refiners.

(Subsequent editions repeat this data and the forex tables above it.)
1845:  1 Troy Ounce Platinum (Russian sponge/ingot @ Europe) ~ USD$ 4.
1846/7: 1 Troy Ounce Platinum (ingot, whols.)  = USD$ 7.50 - 8.33 
1846/7: 1 Troy Ounce Platinum (est. refined)  = USD$ 8.82 - 9.80


See Also:

c.1842: 1 Troy Ounce platina = USD$ 4. 
1848:  1 Troy Ounce of Platinum (refined, US whols.) = $ 10.0
1849: Troy Ounce of platina (ore, market) = $ 6.80 
1850: 1 Troy Ounce platina (ore, domestic )  = USD$ 6.10 

Citation: Manual of mineralogy: including observations on mines, rocks, reduction of ... By James Dwight Dana (1850) p.387

The allusion to high Platinum prices suggests that the US price was trending higher, regardless of other markets and because of battery & telegraph industrial demand.

1847:

1846: The Tariff of 1846 was 30% on manufactured Platinum goods


c.1845: Dr. Hare was working platina in Pennsylvania


Cost of Refining Gold, Silver:




c. 1845/6: Platinum Coin as Counterfeit Gold

Citation: Adulterations of Various Substances Used in Medicine and the Arts (1846)


1844/5: Rouble Rate, in Silver