On Platina.: Luhme

December 2, 2013

Germany, 1849

The Catalogue/Retail Platinum Price in Berlin was apparently stable (1836-1849), taking merchant discount. Platinumware was still 5.8x more expensive than Chemical Silverware.

1836/7: 1 Troy Oz. Platinum (Berlin: Ore?, Retail) = Thlr. 10.6
1836/7: 1 Ozt. Platinum (Berlin: Intrinsic, Ret.) = Thlr. 11.70
1836/7: 1 Ozt. Platinum (Berlin: Intrinsic, Mfg., Ret.) = Thlr 13.83

1849:

http://digital.slub-dresden.de/werkansicht/dlf/13378/8/0/
"17. Evaporating Basins, of Platinum (excluding Manufacture) .... Thlr.6./Loth"

1849: 1 Ozt. Platinum (Erfurt: Intrinsic, Mfg., Ret.) = Thlr 12.77 ($ 8.94)

http://digital.slub-dresden.de/werkansicht/dlf/13378/30/0/
"409. Wire, of Platinum .... Thlr.6./Loth"

1849: 1 Ozt. Platinum (Berlin: Wire, Ret.)= Thlr. 12.7677 ($ 8.94)

http://digital.slub-dresden.de/werkansicht/dlf/13378/39/0/
"579. Grove's Element, 6x3 ZollWire, of Platinum .... Thlr.6./Loth"

http://digital.slub-dresden.de/werkansicht/dlf/13378/78/0/

"1048. Platinum Sheet and Wire .... Thlr.6./Loth"

1849: 1 Ozt. Platinum (Berlin: Scrap, Ret.)= Thlr. 9.5762 ($ 6.70)
1849: 1 Ozt. Platina (Berlin: Ore 80%, Ret.)= Thlr. 10.6402 ($ 7.45)
1849: 1 Ozt. Platinum (Berlin: Sheet &Wire, Ret.)= Thlr. 12.7677 ($ 8.94)
1849: 1 Ozt. Platinum (Berlin: Fine Wire, Ret.)= Thlr. 14.8963 ($10.43)
1849: 1 Ozt. Platinum-Black (Erfurt: Chemical, Ret.) = Thlr 17.00

Where the larger dimension (6 x 3 zoll-maße) Platinum Sheet was 123.13 cm² (~ 246.26 cm² Surface Area) and cost an assumed Preuss.Thlr 7.75 (Net Cost of Carbon Plate Element, same dimensions), ∴

Battery Platinum Plate: 1 US Sq.In. cost Preuss.Thlr 0.4061 ($ 0.2843)

In 1849, the basic charge on manufactured Platinumware was Thlr 1./Loth.

1 Preuss.Loth = 14.616 g or ~0.47 Troy Ounce.

Citation: Preisverzeichniß chemischer, pharmaceutischer, physicalischer, meteorologischer, mineralogischer und geognostischer Instrumente, Gerätschaften und Apparate; J F Luhme: Berlin, 1849.

Pg. 2:
#17: Evaporating Basins in Platinum, from 1-10 Zoll in diameter, in a flat or semi-spherical shape, with or without spout, but also in each and every form, excluding the manufacture, per Loth Thlr 6.50. (Reduced: Thaler 6.)

#18: Evaporating Basins in Silver, per Loth Thlr 1.033

Pg. 24:
#413: Platinum Wire, per Loth Thlr 6.50. (Reduced: Thaler 6.)

Pg. 28:
#496: Eudiometer, Mitscherlich's Thlr. 7; Doebereiner's Thlr. 2; Ure's Thlr. 2.33; Fontana's Thlr. 5; Volta's Thlr. 15.

Pg. 33:
#578: Galvanic Apparatus, Grove's: consisting of Platinum Foil 4 Zoll high, 2 Zoll wide (in Poggendorf's specified curved-shape form) in a porcelain cylinder, toghether w/ Zinc and glass cylinder = Thlr. 5. (6 for Thlr. 30.)

#579: Same - 6 Zoll high, 3 Zoll wide = Thlr. 10. (4 for Thlr. 40.)

Pg. 36
#616: Gramme Weights (2g) in Platinum = Thlr. 4.17 ( ~Thlr. 4.50 for Set to 1 Decimilligram)

1849: 1 Troy Oz. Platinum (Erfurt: Weights, Mfg., Ret.) = Thlr 14.91

1 Unit 1 Gramme (Thlr. 0.83)
1 Unit 5 Decigramme (Thlr. 0.66)
1 Unit 2 Decigramme (Thlr. 0.50)
2 Units 1 Decigramme (Thlr. 0.83)
1 Unit 5 Centigramme (Thlr. 0.33)
1 Unit 2 Centigramme (Thlr. 0.25)
2 Unit 1 Centigramme (Thlr. 0.50)
1 Unit 5 Milligramme (Thlr. 0.17)
1 Unit 2 Milligramme (Thlr. 0.17)
2 Unit 1 Milligramme (Thlr. 0.17)

Pg. 72
#1048 Platina:
a) Sheet and Wire: per Loth, Thlr 6.50. (Reduced: Thaler 6.)
b) Sheet, Very Thin: per Loth, Thlr 7.
c) Wire, Very Thin: per Loth, Thlr 7.
d) Foil, thin as gold leaf: per Leaf, Thlr 0.5833
e) Platinum-Residue: per Loth, Thlr 7.
f) Platina ore, South American: per Loth, Thlr 5.
g) Platinum Sponge: per Unit, Thlr 2.13 - 2.83

Platinum-Black: (Ozt) Thlr 17.

1849:

Where the Pfund = 32 Loths = 7,680 Gran (467.74 Grams; 15.04 Troy Ounces.) The Mark Pfund = 15.03 Troy Ounces and the Gulden/Florin was worth USD$ 0.395, Gold was 5x Platinum, which was ~ 3x more than Silver

1 Pfund platina cost руб. (Ag) 91.13 ; USD$ 51.45
1 Kg platina cost руб. (Ag) 207.67 ; USD$ 110.
1 Poud platina cost руб. (Ag) 3,401 ; USD$ 1,802.

1849: 1 Troy Ounce platina (Russian 80% ore, mkt) = Fl 12.17 / Thlr. 6.954
.... (USD$ 4.80)
1849: 1 Ozt. Platinum (Ru Ore, .999) = Fl 15.21 / Thlr. 8.69
.... (USD$ 6.00)
1849: 1 Ozt. Platinum (German Mkt) = Fl 16.62 / Thlr. 9.50
.... (USD$ 6.56)

1849: 1 Ozt. Gold (refined, mkt) = Fl 50. (USD$ 19.75)
1849: 1 Ozt. Silver (refined, mkt) = Fl 3.22 (USD$ 1.27)
1849:

Prices of the principal metals. A Pfund costs as follows Gold {Fl.) 900., platina ore 183, refined Platinum 250, Silver 58 ....

Late 1849 - January 1851?:
Citation: Das Neueste und Nützlichste der Erfindungen, Entdeckungen u. Beobachtungen ...(1850) p.20

Where simple calculation erroneously doubles the Loth to 1 Ounce Troy, a correction to 1 Loth @ Thlr. 4.25 = 0.469685406 Ozt; noting the forex discrepancy in 5 years delay:

1849: 1 Troy Oz. Platinum (Ask: Scrap) = Thlr 9.05 ; Fl. 13.57
......(£1.236; Fr. 33.93, $6.15)

Citation: The Mining magazine and journal of geology, mineralogy, metallurgy ..., Vol. 2 (1854) p.469

Unknown.

Erroneous Assumption based on Raw platina ore

August 15, 2010

USA, 1865/6: MIT Textbook; Luhme Catalogue (1866)

Assuming the lowest grade Osmiridium (Ir 47% / Os 49%; Ir 53.5% ) was meant; otherwise the SF Platinum market (Scrap) should estimated $7./Ozt at .999 Purity.

1865: 1 Troy Oz. platina (CA: Osmine, Ir 47%-54%) = USD$ 2. (USD$ 2.19)
1865: 1 Ozt. Ir (CA: Iridium, .999) ~USD$ 3.74 (USD$ 4.10)
1865: 1 Ozt. Ir (CA: Iridium, .999) ~USD$ 4.25 (USD$ 4.67)

1865: 1 Ozt. platina (CA: "85.5% Pt") = USD$ 6. (USD$ 8.29 - 8.45)
1865: 1 Ozt. Pt (CA: .999 Pt) = USD$ 7. (USD$ 7.68)

Citation: Mechanics Magazine; John Knight, Henry Lacey (June 1, 1866) p.347

1866: 1 Ozt. Platinum (UK: Semi-mfg., Whols/Ret.) = USD$ 12.50 (£ 1.65)
1866: 1 Ozt. Platinum (UK: Mfg, Whols./Ret.) = USD$ 14.70 (£ 1.94)

1865: 1 Ozt. Platinum (Mfg, Bulk) = $ 6.35 ; USD$ 10. (Fr 32.66)
1866: 1 Ozt. Platinum (Semi-Mfg., Retail) = $ 6.09 (Fr. 31.1035)

Larger Platinumware items of simpler construction were cheaper, but all paid a 40% US Import duty. The US unmanufactured rate likewise appears ~42% higher than the Paris price, to include merchant costs and profit.

1866: 1 Ozt. Platinum ( > 1 Ozt. Semi-Mfg, Whols./Ret.) = $8.64 (USD$ 9.48)

1866: 1 Ozt. Platinum ( < 1 Ozt. Semi-Mfg, Whols./Ret.) = $9. (USD$ 9.87)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $7.20 (USD$ 7.90)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $8.40 (USD$ 9.22)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $8.64 (USD$ 9.48)

1866: 1 Ozt. Platinum ( > 1 Ozt. Semi-Mfg) = $9.87 (USD$ 13.91)
1866: 1 Ozt. Platinum ( < 1 Ozt. Semi-Mfg) = $14.40 (USD$ 15.80)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $12. (USD$ 13.17)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $14. (USD$ 15.36)
1866: 1 Ozt. Platinum (Mfg, Whols./Ret.) = $14.40 (USD$ 15.80)

In Luhme's Descriptive Catalogue of Chemical, Pharmaceutical and Physical Apparatus, Meteorological & Mathematical Instruments (c.1866)

p. 43 "Blowpipe Spoons, Platina $2.00 to $2.50"p. 55 "Capsules, Apothecaries, of Platina or Iridio-Platina, Paris make, with or without lip, shallow or hemispherical, and with or without cover. Price according to the size From 40 to 45 cents pr. gramme, or 2 1/2 to 3 cents pr. grain.do., of Pure Silver, according to size. $3.00 to 4.00 pr. oz."

p. 83 "Crucibles, Platinum or Iridio-Platinum (as used by St. Cair Deville); conical form; with covers having the form of a shallow capsule with handle. Best Paris make. Capacity fr. 1/8 to 1.5 oz. Price 3 cents per Grain, or 45 cents pr. gramme. The capacities of the different sizes, in comparison to their weight, are aboutCont. 1/8.....1/4....1/2....3/4........1....1 1/4....1 1/2 oz.Weight 120....180....240....320....400....500....650 grains about 676.
Crucibles, pure Silver, conical form, with cover Cont. 2.........4 oz.Weight $5.....$7.50"

p. 107 "Galvanic Battery, Grove's. The size of the glass tumbler is 4 inches high by 3.75 inches in diameter. The weight of the amalgamated zinc* is 2.5 pounds the size of the platinum foil is 3 1/2 inches by 3/4 inch.

Single cell with binding screw........$3.

Double Cell complete.....................$4.50

Intermediate Cells.........................$1.75

Six Cells in a wooden box...............$12.

Twelve...........................................$22."

(indicated as $0.25/lb., p.151)

p.134 "1259. Platinum Foil for Grove's Battery or Blowpipe use...... $9.00 pr. oz., 3 cts pr grain.

.............do., Wire, for Blowpipe use .....50 cts. to $1.00 pr foot

.............do., Wire, very fine, for ignition with the battery.....15 cts. pr foot

Before any import cost, duties, or profit the Dollar-depreciated values of foreign Platinum were much higher after April, 1864, but fluctuating in 1865:

4/1864 - 9/1864?: 1 Troy Ounce Platinum (mfg., whols.) = Market Price of Gold

1865/6: 1 Troy Ounce Platinum (mfg., whols.) = £ 1.60 - 2.40 (USD$ 12.30 - 18.46)

A Chemistry textbook was jointly produced by two brothers-in-law, Charles Eliot & Frank Storer, after the first year of a course they taught for the Massachusetts Institute of Technology (February, 1865) in Boston.

A 2:1 Gold ratio implies Platinum rose more significant than most commodities, before the 1866/7 price crash. A hypothetical Platinum price record in Greenbacks follows:

4/1864: 1 Troy Ounce Gold (refined) = USD$ 35.70
4/64: 1 Troy Ounce Platinum (refined) ~ USD$ 35.70
7/64: 1 Troy Ounce Gold (refined) = USD$ 53.41
7/64: 1 Troy Ounce Platinum (refined) ~ USD$ 53.41
10/64: 1 Troy Ounce Gold (refined) = USD$ 42.83
10/64: 1 Troy Ounce Platinum (refined) ~ USD$ 35.
1/65: 1 Troy Ounce Gold (refined) = USD$ 44.69
1/65: 1 Troy Ounce Platinum (refined) ~ USD$ 22.50
4/65: 1 Troy Ounce Gold (refined) = USD$ 30.72
4/65: 1 Troy Ounce Platinum (refined) ~ USD$ 15.35
7/65: 1 Troy Ounce Gold (refined) = USD$ 29.36
7/65: 1 Troy Ounce Platinum (refined) ~ USD$ 14.75
10/65: 1 Troy Ounce Gold (refined) = USD$ 30.09
10/65: 1 Troy Ounce Platinum (refined) ~ USD$ 15.
1/66: 1 Troy Ounce Gold (refined) = USD$ 28.96
1/66: 1 Troy Ounce Platinum (refined) ~ USD$ 14.75
4/66: 1 Troy Ounce Gold (refined) = USD$ 26.31
4/66: 1 Troy Ounce Platinum (refined) ~ USD$ 13.
7/66: 1 Troy Ounce Gold (refined) = USD$ 31.34
7/66: 1 Troy Ounce Platinum (refined) ~ USD$ 15.50
10/66: 1 Troy Ounce Gold (refined) = USD$ 30.66
10/66: 1 Troy Ounce Platinum (refined) ~ USD$ 15.
1/67: 1 Troy Ounce Gold (refined) = USD$ 27.82
1/67: 1 Troy Ounce Platinum (refined) ~ USD$ 14.

Richmond Price:
10/64 - 1/65: 1 Troy Ounce Gold (refined) = Gold $ 64. ; C$ 3,840.
10/64 - 1/65: 1 Troy Ounce Platinum (refined) = Gold $ 64. ; C$ 3,840.

Citation: "Dental Surgery as applied in the Armies of the Late Confederate States" W. Leigh Burton in American Journal of Dental Science, Vol. 1, No. 4 (August, 1867) , p.182

1866:

Citation: A manual of inorganic chemistry: arranged to facilitate the experimental ... By Charles William Eliot, Frank Humphreys Storer(1866), p.592

High though these Greenback prices might seem, dental suppliers were advertising/retailing refined Gold foil in Early-Mid 1866 for +75% the New York Market Spot. That implies retail prices for the far rarer imported Platinum rose above $26./oz. in Greenbacks.

In 1864, pure Palladium was reportedly sold for $150./oz. (in Greenbacks?), up from $30. - $60. in the mid-1850s. If following the price of Palladium +300%, refined Platinum products sold at retail might well have cost ~$45. in Greenbacks. In 1858, Platinum crucibles were reportedly sold for $18. - 19. ; a doubling of prices was by no means atypical in this period.

If Gold Foil in 1865 was 50% more expensive than it had been in 1855, Platinum Foil might easily have cost ~ $25 wholesale.

Citation: Hettingers Dental News, Vols. 1-6 (June 1866) p.71