April 5, 2013

Russia, 1845

In 1828, Russian platina had sold for 9 руб per Troy Ounce; less than 20 years later the price had fallen by nearly -50%.

1845: 1 Troy Ounce Platinum (European Mkt) = 4.7527 - 5.3319 руб 

 (USD$ 3.56 - 4.)

1845: 1 Troy Oz platina (Cartagena: ore) = C$ 3.46 (USD$ 3.13; £ 0.65)

1828: 1 Troy Oz. Platinum (coined, 1828) = 9.01 руб Ag = Fr. 36.54 = £ 1.4234
1844: 1 Troy Oz. Platinum (mkt) = 6.578 руб = Fr. 26.69 = £ 1.044
1845: 1 Troy Oz. Platinum (mkt) = 5.3319 руб = Fr. 21.61 = £ 0.8422
1845: 1 Troy Oz. Platinum (mkt) = 4.7527 руб = Fr. 19.27 = £ 0.7507


"With the introduction of platinum coins in 1828, the assumed metallic value was 1.236 руб per Zolotnik, or 4,746 Roubles per Poud. As a result, this nominal value differs so greatly from the commercial value of the metal; under such circumstances, in 1843 the Treasury took the question to council whether to continue minting Platinum coinage. In 1844 the difference was already calculated at 137% (3,464 Roubles per Poud) and in 1845, as revealed that in the main markets (Paris, London, Hamburg) it was officially retracted that prices were fluctuating between of 2503-2808 Roubles per Poud. So instead of 1.236 руб per Zolotnik, the cost was only 0.65-0.74 руб and the government was induced, following on 9 February 1845 to meet the most supreme confirmed measures:" 



 Citation: Spink & Son , The Numismatic Circular, Vol. 15, May 1907 p. 9885:
"(Bei der Einführung der Platinmünze im Jahre 1828 wurde der Metallwert zu 4745 Rubel für das Pud angenommen. Im Jahre 1845 schwankten die Platinpreise auf den europäischen Hauptmärkten von 2503 bis 2808 Rubel für das Pud.)" 

1828: 4,745 руб Acc./ Poud = £ 205.
c.1839: 2,300 руб Acc./ Poud = £ 110.
1845: 600 руб Kr./ Poud = £ 94.77 

In 1845, Platinum prices fluctuated on the major European markets, from 2503 to 2808 Roubles per Poud.  In the Urals, 1 Poud platina fell to 600 руб Kr. (750 руб Kr. per Poud Fine Pt.) or 588.6 руб Ag. (736 руб Kr. per Poud Fine Pt.)

1845: 1 Troy Oz. platina (Ural: 80% ore) = 1.1393 руб Kr.
1845: 1 Troy Oz. platina (Ural: .999) = 1.4241 руб Kr.

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

Platinum coinage abandoned because counterfeiting:




1845: 1 Kilogram platina (Paris: Mkt) = Fr. 800 

Citation: Revue des deux mondes, Vol. 3; Volume 106 (1855) ; François Buloz,et al. p.132

Citation: American Journal of Numismatics, Volumes 40-42 Sept 1907



Gold Yield, 1824 - 1848:


"Platina snuff boxes" from Tula were a Silver-Steel alloy, not Platinum.

 

April 4, 2013

UK, 1814




At cited 1814 prices, it appears the London platina price was ~50% higher than the US rate, at varying USD currency exchange rates (£ 0.2081 - £ 0.2438) on the Eastern Seaboard.

Assuming a High in early 1790, @Fr 27.125 per £ 1. and a Low @Fr 25.02:
 
1790?: 1 Troy Ounce Platinum (mkt, refined ingot) = £ 2.50 (Fr 67.8)
1804?: 1 Troy Oz. Platinum (mkt, refined ingot) = £ 1.50 (Fr 37.5)

1808?: 1 Troy Oz. platina (whols., Colombian ore) = £ 0.20 (Fr 4.88)

1814: 1 Troy Oz. platina (whols., Ore 70%) = £ 0.15 (Fr 3.15)
1814: 1 Troy Oz. Pt (intrinsic, Ore 70%) = £ 0.2143 (Fr 4.50)
1814: 1 Troy Oz. Platinum (Producer Cost) = £ 0.3143 (Fr 6.60) 

1814:  1 Troy Ounce platina (Est. Choco Spot) ~ S$0.1014 (£ 0.0225)  
1814: 1 Troy Oz. platina (Est. Cartagena Spot) ~ S$0.1352 (£ 0.03)

1814: 1 Troy Oz. platina (Jamaica: bulk, whols., ore) = £ 0.07034 - 0.08239

1814: 1 Troy Oz. platina (US port: bulk, whols., ore) = £ 0.08561 - 0.10028  
1814: 1 Troy Oz. Platinum (USA: Bollmann) = USD$ 3. (~Fr. 15.24)

February, 1814: 1 Troy Oz. Platinum (mkt, ingot) = £ 0.75 (Fr 15.75)

This serial of Rees' The Cyclopædia dates to February 1814. A"few years ago" elsewhere in this section refers to +10 years, circa 1800. Subsequently plagiarized by Encyclopaedia Londinensis, or, Universal dictionary of arts ..., Vol. 15 (1817) p.478-9 and other works.

This metal may now (1814) be purchased in bars at the rate of 15s. an ounce; whilst a few years ago, its price was between two and three times as great.  The price of platina, in grains, fluctuates between 3s. and 4s. an ounce.

Citation: The Cyclopædia: Or, Universal Dictionary of Arts, Sciences..., Vol. 27 Abraham Rees (1819)

 
 
1814: 1 Troy Oz. Palladium (Trade: Cary) = £ 4.20 (USD$ .)
1814: 1 Troy Oz. Palladium (.999)  = £ 4.70 (USD$ )
1814: 1 Troy Oz. Palladium (Est. Retail: Cary) = £ 4.90 (USD$ .)  
1814: 1 Troy Oz. Palladium (Est. Ret.: .999) = £ 5.50 (USD$ .)

When the Market Price for standard Gold was £ 4.- 4.20, Dr. Wollaston paid £ 4.40, a premium of 5-10%.  If Wollaston charged £ 0.75/Ozt., he sold at less than one-sixth the equivalent price in Gold.

8/1814: 1 Troy Oz. Gold (Mkt, .999) = £ 4.3636 - 4.5818 (Fr 101.26 - 107.21) 
August, 1814: 1 Troy Oz. Gold (Trade, .999) = £ 4.80 (Fr 106.08 - 112.32)  
  
"From an invoice preserved in Wollaston's papers (14) we know that in August 1814 the price for gold purchased from a London gold and silver merchant was £ 4. 8s. an ounce; so Wollaston sold his platinum at less than one-fifth the price of an equivalent volume of gold."


In "Justus Erich Bollmann and Francisco Antonio Zea" Platinum Metals Rev., 1983: 27,2),
Chaldecott mis-dates Bollman's information: "Adams, Robertson & Co." was the firm's name in 1815.  At that time, Wollaston well-stocked, paying less and easily acquiring platina - the market was saturated, not in scarcity. 

In all probability, Bollman's comment dates after 1817, the period when he was in London but struggling financially, in debt to Wollaston and revealing his platina sources.  

  Bollmann first made Wollaston’s acquaintance when he called on him in London towards the end of August 1814, shortly after arriving in England on a journey from Philadelphia to Vienna (5). This was the time when he told Wollaston that supplies of crude platinum could be obtained from the merchant firm Adams, Robertson & Co, of Kingston, Jamaica, and that smuggled ore could not be bought at Cartagena for less than five Spanish dollars a pound avoirdupois, equivalent to 1s. 6d. an ounce troy, and that the price at Philadelphia was six dollars (6).


March 2, 2013

USA, 1942

1942: 1 Troy Ounce Platinum (Intrinsic) = $ 36.
1942: 1 Troy Oz. Iridium (Intrinsic) = $ 165.
1942: 1 Troy Oz. Osmium (Intrinsic) = $45.
1942: 1 Troy Oz. Ruthenium (Intrinsic) = $35.-40.
1942: 1 Troy Oz. Rhodium (Intrinsic) = $125.

http://archive.org/stream/1941forniaminera00symorich#page/n7/mode/2up









USA, 2011: 100+ Years AGGREGATE Production/Price PGMs

Global Production and estimated value, USGS: 1900-2011

http://minerals.usgs.gov/ds/2005/140/ds140-plati.pdf

March 1, 2013

USA, 1937




1937 PGM Prices

South Africa, 1936

South Africa sales of Osmiridium (ore) indicate ore producing PGM prices.  The ore was:
31.1% Os, 26.66% Ir, 13.58% Pt, 11.94% Ru, 2.04% Au, 0.47% Rh and 14.21% slag.

1936: 1 Troy Ounce Osmiridium (South African ore) =  £ 5.296

1936: 1 Troy Oz. Osmiridium (intrinsic, refined) = USD$ 39.25

1936: 1 Troy Oz. Osmium (US import) = USD$ 30.514
1936: 1 Troy Oz. Iridium (US import) = USD$ 79.9625
1936: 1 Troy Oz. Platinum (US import) = USD$ 32.5685

1936: 1 Troy Oz. Ruthenium (US import) = USD$ 26.6706
1936: 1 Troy Oz. Gold (US import) = USD$ 35.
1936: 1 Troy Oz. Rhodium (US import) = USD$ 26.2479

1936: 1 Troy Ounce Osmiridium (Australia) = £ 13.76

In early January 1937, Germany nationalized all Platinum.

Under a decree dated January 26, 1937, all private stocks of platinum, silver, copper, lead, tin, nickel or zinc, must be delivered to a governmental board for sale at prices and under terms fixed by the board. The Government has effected a plan for controlof the supply of skilled labor; work books are now required and a worker must obtain a permit before he may change his occupation. The Reich has divested itself of a number of participations in private enterprise undertaken during the depression.

Australia, 1919

In February 1919, the price of Osmiridium reached £40 per ounce; in October 1919 £42.18

http://waratah.vpweb.com.au/upload/osmiridium.pdf

http://www.mrt.tas.gov.au/mrtdoc/dominfo/download/UR1992_20/UR1992_20.pdf