Germany, 1921

In Germany, Platinum was 3.822 - 3.933x the Price of Gold, 122.18 - 126.13x the Price of Silver.   

1921/2: 1 Troy Ounce Gold (Mkt) = ℳ 5,536.42 - 5,940.84
1921/2: 1 Ozt. Silver (Mkt) = ℳ 172.62 - 185.84
1921/2: 1 Ozt. Platinum (Mkt) = ℳ 21,772 - 22,705.50

Chemiker-Zeitung, Vol. 46 (1922):  
"Der Preis für Gold schwankte zwischen 178,000 und 191,000 ℳ, der für Silber zwischen 5,550 und 5,975 ℳ. Platin notierte zwischen 700 und 730 ℳ für 1 g." 


"The price of Gold traded between 178,000 - 191,000 ℳ, of Silver between 5.550 to 5.975 ℳ. Platinum 700 - 730 ℳ for 1 g."

Early 1921:
"Der Preis des Platine, welcher vor einem Menschenalter 1 M. für das Gramm betrug. war allmählich bis auf 6 M. im Jahre 1914 gestiegen und beträgt jetzt über 100 M." 

"The price of Platinum, which was for the grams of a generation ago ℳ 1. was gradually increased up to ℳ 6. in 1914 and is now about ℳ 100."

1921: 1 Ozt. Platinum (Mkt) = ℳ 96.75




A Platinum Evaporating Basin to contain 1 Imperial Fluid Ounce (79.912 cc) should weigh 28.41 grames

UK (Australia), 1921

At times, the price of osmiridium is very high. In 1921, £42 10s. an ounce was being paid for it on the Tasmanian fields. The London price is said to have once touched the surprising figure of £85 an ounce.

February 1921: "The buyers of Tasmania's production of osmiridium are not quoting, and although recent sales were made on the basis of £34 per oz. for average metal, it is expected that the price will be serious reduced."

January(?) 1921: 1 Troy Oz. Osmiridium (Tasmania) = £ 42.50
February(?) 1921: 1 Troy Oz. Osmiridium (Tasmania) = £ 34.
  
August, 1921: 1 Troy Oz. Osmiridium (Tasmania) = £ 18.

August, 1921:

Russia, 1921: Price Collapse

January 1920: 1 Troy Oz. platina (Ural@ Copenhagen) ~ £ 42. (USD$ 148.26)
January 1920: 1 Troy Oz. Platinum (NYC mkt) = USD$ 160.
c.July? 1921: 1 Troy Oz. platina (Ural ore at Copenhagen) ~ £ 15. (USD$ 66.39)
July 1921: 1 Troy Oz. Platinum (NYC mkt) = USD$ 80.

Mid-January, 1920 the USD/Rouble exchange rate was 1: 200 officially.
Late January, 1920 the USD/Rouble exchange rate was 1:1,200.
February?, 1920 the USD/Rouble exchange rate was 1:2,400.
August, 1920 the USD/Rouble exchange rate was 1:4,000.
September, 1920 the USD/Rouble exchange rate was 1:5,000.
February, 1921: a 1 Rouble Gold was worth 10,000 Soviet Roubles

April, 1921: the USD/Rouble exchange rate was 1:15,000.
Mid-May 1921, the USD/Ru was 1:20,000
June, 1921, the USD/Ru was 1:25,000
July 1921, the USD/Ru was 1:40,000
August 1921, the USD/Ru was 1:45,000
November 1921, the USD/Ru was 1:120,000
January, 1922: the USD/Ru 1:151,200.
April 1922, the USD/Ru was 1:2,000,000
c.May, 1922: a 10 Rouble Gold Coin was worth 24,000,000 Soviet Roubles
May 1922, the USD/Ru was 1:4,000,000
July 1922, the USD/Ru was 1:3,800,000

April 1922, the (official? new?) USD/Ru was 1:100,000 The Russian Price Index rose from 1 in 1913/4 to 3,400 in January, 1920.; to 9,390 in July 1920 ; to 20,339 in January, 1921 ; and 70,021 in July 1921.

January 30, 1920, the USD/GBP was 3.53:1

Mid-July 1921, the USD/GBP was 4.43:1




May, 1921: 1 Troy Ounce Gold (London) = £ 5.133 
May, 1921: 1 Troy Ounce Silver (London) = £ 0.1396 

May 1921:






1921:







July 1922:

USA, 1921: Secrecy of US Platinum Refiners, >60% Price Collapse Noted.

Platinum was 233x the Price of Silver in January, but down to 123.4x the Price of Silver in December.


January, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 155. 
February, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$
March, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$  
April, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
May, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
June, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
July, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 80.
August, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 120.
September, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
October, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
November, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 
December, 1921: 1 Troy Oz. Platinum (Refined, Mkt) = USD$ 75.




The Price of Silver in January was $0.664; in July $0.5851; in December,

John Story Jenks Collection Sale, mid-December 1921 shows the numismatic premium at very high Platinum prices was only ~26.5%.

An 1831 "Proof" 12-Rouble coin sold for $150.; where a full-weight 12-Rouble was 1.3292 ozt. (638 Grains Troy)

December, 1921: 1 Troy Oz. Platinum (Numismatic: 12-руб) = USD$ 112.85
December, 1921: 1 Troy Oz. Platinum (Numismatic: 6-руб) = USD$ 133.73
December, 1921: 1 Troy Oz. Platinum (Numismatic: 3-руб) = USD$ 87.15

Citation: The Numismatist, Vol. 35 (1922) p.226




 
Following the parabolic price rise of Platinum in WW1, the US refined market collapsed from the beginning of 1920 through the summer of 1921. 


With Russian platinum embargoed, supplies dwindled; the US govt's strategic stockpile was released, @ $ 85./oz. in 1919. Demand remained strong; then a speculative frenzy drove the spot price 60% higher in the next few months. That Peak & Crash were epic, perhaps a record.

January 26, 1920: NY Spot Price = $160./oz
August 1, 1921: NY Spot Price = $ 65./oz

Contemporary US government summaries do not convey the extent of the Platinum Price Collapse: see the 1919-1920 Metal Price Chart.

In 1920, the Spot Price of Platinum fell from $160. to ~ $83.50 by year end, or -47.8%. The price fell further in July/August, a low of $58. is mentioned. That's a total decline of -63.75% from the Peak within 20 months. Between 1920 and 1921, the Canadian Platinum Producer Price likewise dropped -58.6% ($ 67.63 > $ 27.97) .

Citation: Tariff information surveys on the articles in paragraph 1 ..., Issues 333-386; United States Tariff Commission (1921), p.34.

Citation: Metal industry, Vol.19 (1921), p.56


A time of secrecy & smuggling (again)?

Citation: The Mining magazine, Vol. 23 (1920), p.116.



Gauges of Wire, Foil, etc.

Pure Platinum Foil (Light, 0.03 mm): 1 Sq. In. = 5.45 Grains
Pure Platinum Foil (Medium, 0.04 mm): 1 Sq. In. = 8.18 Grains
Pure Platinum Foil (Heavy, 0.05 mm): 1 Sq. In. = 10.88 Grains




Pure Platinum Wire (Heavy?, 2.02 mm): 12 In. = 328.25 Grains

 

In the last 30 years of the 19th C., Platinum rose 367%; Pt peaked 50 years after 1870.
At the same time, Silver and fell -53.4% on London.

1899-1921:
Citation: Engineering and Mining Journal, Vol. 112 American Institute of Mining Engineers (1921) p.478

Adjusting for Real Inflation since 1920 (5,206%) we can extrapolate the "1920 Peak" spot price for Platinum (refined ingot, 89% pure) to be $ 8,490. (in 2009 USD$.)

Adjusting for Real Inflation since 1921 (5,238%) the lowest 1921 Platinum Spot Price would be $ 3,469. (in 2009 USD$.)