Russia, 19th Century: History of Pt; Silver & Paper Roubles

History of Russian Platinum:




The Silver Rouble:

British observations c. 1847


c.1846:

Russia/Germany, 1869-1906

Although several late 19th Century sources cite 1866 for an absolute Low for Platinum prices (in Russia), the paper Rouble price appears to have been lower in 1869-72.

c.1869: 1 Troy Ounce Platinum (ore)  = 3.04 руб (USD$ 2.28) 

1866: 1 Troy Ounce Platinum: 3.56 руб (USD$ 2.67)

Citation: La Russie industrielle: étude sur l'Éxposition de Nijni-Novgorod; Maurice Verstraete,  p.293

Written in 1909? 
Presumably referring to 1869 and not converted from another currency:

c.1869: 1 Troy Ounce Platinum (refined)  = £ 0.93 - 1.09 (USD$ 6. - 7.)

c.1908: 1 Troy Ounce Platinum (refined? whols)  = £ 4.98 (USD$ 24.24) 

Citation: The deposits of the useful minerals & rocks By Franz Heinrich August Beyschlag, Johan Herman Lie Vogt, Paul Krusch (1914) p.345

UK, 19th C.: Manufacture Prices Reveal Platinum Price Changes

 Ref

The platinum capsule described in the 1836 Griffin manual approximates the Item 1741c #5 @ 6s.  The price appears nearly the same.

Estimated weight of a Platinum capsule 1 in. dia/0.3 in deep, no cover ~ 

c. 1838:

Citation: A manual of chemistry: containing the principal facts of the science, in the ...By John White Webster (1839)

c. 1852:

Citation: Minutes of the Committee of Council on Education, with appendices, Vol. 1  By G.B. Committee on Education (1853) p.186

1864:

1877: 


Examining various ore, import, wholesale & retail prices shows the RETAIL MANUFACTURED price was ~90% greater than the wholesale/import price for Platinum products sold in the USA.


1883/4: Medium-sized Capsule (~28cc?) price = USD$14.00/oz.

Citation: Engineering and mining journal, Vol. 39 (1885) p.278

UK, 1821: Price Approximation to Francs and Roubles

Circa 1820, the similarity of Paris & London prices appears to indicate a stable market for refined Continental Platinum, but that period was ending.  

In Pound Sterling, the Price of Gold stabilized in London to the 1800 level.

c.1821: 1 Troy Ounce Platinum (refined) ~ Fr 25. - 27.  (£ 1.05 - 1.15)
c.1821: 1 Troy Oz. Platinum (scrap)  = £ 0.6441 (USD$ 3.08)
 

The Russian assumed rate may have dated to 1821, prior to the cornered market or price-hike that mysteriously began in 1822.  It is by no means certain Platinum traded wholesale at this rate in 1821/2.

c.1821:  1 Troy Oz. coined Platinum = 9.31 Silver руб = 37.24 Banco руб
 ~£ 1.55

Citation: The Gentleman's magazine, Volume 143 By John Nichols (1828)  p.482

 

USA, 1873: Dental Price for Platinum; Battery Platinum

1873:  1 Troy Ounce Platinum (France: Scrap Bid, Bulk) = ℳ  19.9735 (~$ 4.75; USD$ 5.55)
1873/4: 1 Troy Oz. Platinum (France: Refined Ingot, Mkt) = $ 5.87 ; USD$ 6.89)

1873: 1 Troy Oz. Platinum (Germany: Est Whols, Unmfg) =  $ 5.82 - 6.04

1873: 1 Troy Oz. Platinum (Germany: Mfg, Bulk) ~ $ 6. - 6.22 ; USD$ 7.2353

In J.E. Smith's Manual of Telegraphy (1873) see p. 55 'Battery Material' for L.G. Tillotson's New York price for platinum strips (of unknown dimensions) : $0.80 (small) and $0.90 (large) for a Grove Battery ($1.75)  At the currency rate, the large strip cost $1.02 - nearly identical to the 1854 Kent Catalogue.  Presuming the same dimensions and quality as earlier catalogues' batteries (a 3.5" x 0.75" Platinum strip may be estimated @:  0.0833 troy ounces (40 grains) @ $0.383 per sq. in.) the Smith catalogue price is USD$ 12./oz., identical to 1872 Benjamin Catalogue.

1873: 1 Troy Ounce Platinum (Ret.: Semi-mfg, battery strip) ~ $ USD 12.

The recollection of a dentist, decades later, does match 1873 prices.  The wholesale price of platina might have been around $5./oz (USD$ 5.86) in 1873, but published catalogue prices in 1872 suggest a much higher Gold rate for refined Platinum.  In 1873, the European Scrap Rate was about $ 5.00/oz., but not in US currency.

Dental Platinum known as 'French Plate' was a Silver-Platinum alloy, 66% Ag/34% Pt.



An even less costly French dental alloy 'Platine au titre' contained 17% - 34% Pt.



1873: 1 Troy Oz. Platinum Alloy (Ag/Pt, 66/34) = $ 5.05
1872: 1 Troy Oz. Silver (Whols./Ret: .999 Fine) = $ 2.50
1872: 1 Troy Oz. Platinum (Whols./Ret. .999 Fine) = $ 10.

Citation: The Western Dental Journal, Vol. 24 (1910) p.211

1873: 1 Troy Oz. Platinum (Scrap, Bid) = $ 5.00

1873: 1 Troy Oz. Silver (Scrap, Bid) = $ 1.20
1873: 1 Troy Oz. Gold (18k Scrap, Bid) = $ 15.00 
1873: 1 Troy Oz. Gold (Scrap, Bid) = $ 21.00 

Citation: The Dental Register, Vol. 27 No.12 (12/1873) p.192 

Based upon assays by the Mint Master Eckfeldt (c.1873), the "Platina" dental alloys were shown to contain not Platinum but Tin.

Citation: The Dental Cosmos: A Monthly Record Of Dental Science, Vol.14, No.12 (12/1873) p.192




Platinum counterfeit Double-Eagles, constructed :   



Presumably, the dentist refers to the SS White Dental manufactory, which may have purchased bulk platina or Platinum at the lowest and best-possible market prices.






 


US Imports:

Germany, 1870 -1897: Deflation in Metal Prices

1870: 1 Troy Oz. Platinum (mkt?) = ℳ 15.55 ; Thlr. 7.95 (9.34 руб)
 

In the last quarter of the 19th Century, Commodity Deflation was not confined to the USA, and metal prices had declined sharply in Germany also.

Citation: Science, Vol. 15,  By American Association for the Advancement of Science (1902) p.140. 

UK, 1873-85: Platinum Price Estimated to Gold

1872: One Troy Ounce of Gold = £ 4.24
1872: One Troy Ounce of Silver = £ 0.2469

1872: One Troy Oz. of Platinum ~ £ 1.23 - 1.41

1873: 1 Troy Ounce Platinum (manfactured, retail) = £ 1.60 (USD$ 8.88)

1885: One Troy Ounce of Gold = USD$ 20.67

1885: One Troy Oz. of Platinum ~ "half the price" = ~ USD $10.

1884:  1 Troy Oz "Platinum" (generic range: all types) = USD$ 8. - 12.

c.1872:

c.1885: