On Platina.

October, 1820: 1 Troy Ounce Platinum (Bruns.,Germ. retail) = Thlr 6.39
1821/2: 1 Troy Oz. Platinum (Frankfurt: Mfg, Ret.) = Preuss. Rthlr. C. 10.34 (Fl. 14.8967)
Early 1822:1 Troy Oz. Platinum (Paris: Mkt, Intrinsic) = Preuss. Rthlr. C. 5.91 (Fr 21.35)
Mid-1822?: 1 Troy Oz. Platinum (Paris: Mkt, Intrinsic) = Preuss. Rthlr. C. 6.20 (Fr 22.37)

After about 20 years residence in Paris, Alexander von Humboldt returned to Berlin in 1826. In November 1827, he corresponds with Count Cancrin (in St. Petersbourg) on Platinum's valuation a precious metal and reports a price-record for Platinum 1822-7. Although von Humboldt asserts these are Paris Prices, it is circumstantially obvious he's reporting German (likely, Berlin) retail prices, for several reasons:

1) Paris sources should report Once p.d.m. (not Berlin Silbergewicht Loth) and also in Francs (not Preussiche Riechsthalern Current.)

2) Exceedingly high retail "Paris" prices, contradicted by numerous other official, local and non-local Paris price-reports for the period.

3) Reference to the French Royal Mint refiner and leading platinum producer, M. Bréant, is a possible source for the Berlin merchant ("10% discount") and Humboldt's price-confusion. Also, he appears ignorant of the Platinum industry and its consumer base (~80% gun-manufacturers, jewelers and dentists) which confirms the Berlin merchant dealt retail to chemists only (not more than ~15% of the total market.)

Yet it must be noted that at these prices, the manufacture mainly in round vessels, brings relatively little value. In the cleaning of platina, Mr. Bréant appears to be the most successful among any other chemists, and he has supplied the public with refined metal usually 8-10 per cent cheaper than the above information.

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...; A. von Humboldt, Egor F. Kankrin

4) Count Cancrin reports the 'average Paris Price' platina and Platinum for unknown period, prior to July 1827 (likely: 1824-26), far lower than von Humboldt's data.

I brought together various news about the value of the platina from France and England, from which we have here want to conclude that on average an Once raw platina costs about Fr. 8 or more, as opposed to a completely purified Ounce for Fr. 32.

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...; A. von Humboldt, Egor F. Kankrin p.3

5) Most importantly, factoring a 10% discount on Paris common prices and presumed Berlin merchant profit, von Humboldt's retail price-record is consistent with known Paris prices.

At Frankfurt Retail prices, the Prussian Silbergewicht Loth sold for Preuss. Rthlr. C. 4.86 in 1821/2. At the Paris 'common price' of Fr. 21./Once, the same Berlin Loth cost Preuss. Rthlr. C. 2.50 in early 1822. The Berlin Merchant's Profit was ~20%.

This price-table summarizes the course of the first recorded Platinum Bubble in its full magnitude. By dates and approriate forex, Bréant's data gives fuller context than retail ore prices noted elsewhere by a famous French dentist F. Maury. (Refined Platinum rose twice as high in December 1825, for example; whereas Maury/Tillett only sketched the average annual retail ore price.)

My apologies if I have left you waiting so long, for in determining to respond on this important subject to express to a statesman, the delay was solely to gain time to gather a few notes on the platina traffic from friends in France, England and South America. It is found (and these points will appear very important, Your Excellency, in terms of political economy...)

Unfortunately, prices for manufactured Platinum (in crucibles, exhaust-vials, retorts and sheets of various lengths) are still very unstable, costing in Paris:

{Where 1 Loth = 225.76 grains = 0.4703 Ozt. and the Paris Once = 0.983688 Ozt., with a contemporary Gold Coin forex Thlr 1 = Fr 4.08, we may ascertain the Manufactured Platinum Paris Once-rate originally reported by Bréant to von Humboldt:}

1822: 1 Paris Once Platinum (Mfg, Retail) --------------------------------- (Fr 26.50)

1823: 1 Paris Once Platinum (Mfg, Retail) --------------------------(Fr 34.50 -42.50)

Jan.-Mar. 1824: 1 Paris Once Platinum (Mfg, Retail) -----------------------(Fr 38.25)

July & Aug. 1824: 1 Paris Once Platinum (Mfg, Retail) ----------------------(Fr 47.00)

December, 1824: 1 Paris Once Platinum (Mfg, Retail) -----------------------(Fr 61.75)

Feb.-Mar. 1825: 1 Paris Once Platinum (Mfg, Retail) ---------------(Fr 61.75 - 64.75)

July, 1825: 1 Paris Once Platinum (Mfg, Retail) -----------------------------(Fr 53.00)

December, 1825: 1 Paris Once Platinum (Mfg, Retail) -----------------------(Fr 70.50)
1826: 1 Paris Once Platinum (Mfg, Retail) --------------------------(Fr 66.25 - 57.50)
Jan.-Mar. 1827: 1 Paris Once Platinum (Mfg, Retail) ------------------------(Fr 48.50)
Oct. 1827: 1 Paris Once Platinum (Mfg, Retail) ---------------------(Fr 46.25 - 44.00)

1822: 1 Troy Ounce Platinum (sheet & mfg) = Thlr 6.38 ---------------- (Fr 23.5)

1823: 1 Troy Oz. Platinum (do.) = Thlr 8.51-10.28 -----------------------(Fr 31.5 -38.)

Jan.-Mar. 1824: 1 Troy Oz. Platinum (do.) = Thlr 9.21 ----------------------(Fr 32.50)

July & Aug. 1824: 1 Troy Oz. Platinum (do.) = Thlr 11.34 -----------------(Fr 42.)

December, 1824: 1 Troy Oz. Platinum (do.) = Thlr 14.8 ------------------------(Fr 55.)

Feb.-Mar. 1825: 1 Troy Oz. Platinum (do.) = Thlr 14.88-15.59 ----------(Fr 55. - 57.5)

July, 1825: 1 Troy Oz. Platinum (do.) = Thlr 12.76 -----------------------------(Fr 47.)

December, 1825: 1 Troy Oz. Platinum (do.) = Thlr 17. ----------------(Fr 62.)
1826: 1 Troy Oz. Platinum (do.) = Thlr 14.88 - 13.82 ------------(Fr 55. - 51.)
Jan.-Mar. 1827: 1 Troy Oz.Platinum (do.) Thlr 13.82 -----------------(Fr 51.)
Oct. 1827: 1 Troy Oz. Platinum (do.) Thlr 11.69 - 10.63----(Fr 43.25 - 39.25)

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...; A. von Humboldt, Egor F. Kankrin (1869)

Berlin Silbergewicht Loth = 14.61175 g.

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...; A. von Humboldt, Egor F. Kankrin

The Platinum Peak occured in late December, the highest Paris Price recorded for several decades. The highest platina price in Choco presumably occurred in the Early Summer of 1825, prior to (local news of) Boussingault's discovery at Antioqua and probably after a major seizure of contraband platina in New Grenada.

The Paris Price ore price dropped suddenly in July 1827 and suddenly crashed 50% in (June/July?) 1828, without explanation or clarification from contemporaries. Presumably, the arrival of Russian platina and news of the Colombian government's decision to liquidate ore stocks collapsed a 'famine price.'

c.1825/6: 1 Troy Oz. Platinum (Paris retail) = Fr 35.56- 30.48 (USD$ 6.92-5.93)

Sept, 1828: 1 Troy Oz. Platinum (sponge) = Fr 17.27- 19.30 (USD$ 3.39 - 3.79)

The commercial value of the platinum metals is second only to Gold. But for awhile now, there are large fluctuations in the price. Here in Frankfurt am Main, you would calculate the cash value of 3 ounces Platinum is now approximately equal to 1 ounce of Gold or 15 ounces of Silver; and so Platinum would be sold at Paris, 30 to 35 francs per Once p.d.m. By contrast, a latest news from from Paris reports: refined Platinum is now available for just 17-19 Francs, and platina ore is 10 -12 Francs ("ruiner"!) Perhaps the striking difference between these statements is partly grounded in varying degrees of purification.

Rubles at current exchange rates ("1 Fl. 49.5 Kr" to 24 Gulden-money) anticipated this 3 piece rubel (5 Fl. Kr 5.28) is worth close to one ducat, and in the proportion of Platinum to Gold, 5.0889 to 1.

Citation: Das Münzwesen in Teutschland nach seinem jetzigen zustand: mit Grundzügen zu ...Johann Ludwig Klüber (1828) p.212

French analysis of von Humboldt's precious metals data used a Reichsthaler forex 1: Fr 3.70

If 1 Kilogram cost Fr 880, 1 Once would cost ~Fr. 26.95

1851: 1 Troy Ounce Platinum (SPb Scrap in Paris?) ~ Fr 27.374 (~USD$ 5.297)

Footnote in Malaguti's textbook; dated 1852?

Citation: Lecons élémentaires de chimie, Vol. 1 Faustino Giovita Mariano Malaguti, 1852, p.728

c.1845-51: 1 Ozt. Platinum (SPb: Russian Scrap) = Fr 28.
c.1845-51: 1 Ozt. Pt (Paris: Ru Scrap, .999) = Fr 28.86

c.1845-54: 1 Ozt. Pt (Deville: Refining Cost) ~ Fr 7.76
c.1845-54: 1 Ozt. Pt (Paris: Ru Scrap, .999) = Fr 36.64

c.1845-51: 1 Ozt. Pt (Paris: Est. Labor) ~ Fr 1.244
c.1845-54: 1 Ozt. Pt (Paris: Ru Scrap, .999) ~ Fr 30.10

1851/2?: 1 Ozt. Platinum (Mfg, Intrinsic?) = Fr 37.3242 (~USD$ 7.22)

Citation: Exposition universelle de 1851: Travaux de la Commission française sur ... Charles Dupin (baron)

1851/2: 1 Ozt. platina (ore) = Fr 31.10
1851/2: 1 Ozt. Gold (ore) = Fr 108.86 - 155.52

Where the quintal metrique/centner is 100 Kg., or 267.92 Troy Pounds, in 1851 there were 2,300 Kg or 73,947 English Troy Ounces of Platinum produced.

c.1851: 1 Troy Ounce Platinum (refined) = Fr 37.324 (~$ 7.22)
c.1851: 1 Troy Ounce Gold (refined) = Fr 108.86 (~$ 21.06)

Citation: Dictionnaire des arts et manufactures, de l'agriculture, des mines ... By Lefebvre Laboulaye (1853)

Where 1 Liter (1,000 cc) = 61.028 Cubic Inches and 35.195 Imperial Fluid Ounces and 33.814 US Fluid Ounces; where the English Pint ('Wine Measure') is 28.875 Cubic Inches (0.4732 Liter, 473.1765 cc), the Quennessen alembic contained 142 Liters.