Colombia, 1894

In 1894, Colombia produced ~139,939 ozt (4,352.6 kgs) Gold.  

Where the Colombian libra is suggested at 14.792 ozt.,

1894: 1 Troy Ounce platina (Paris: Colombian ore, 83%?) = Fr. 60.84
1894: 1 Troy Oz. platina (Paris: Chocó ore, at purity) = Fr. 73.30

1894: 1 Troy Ounce platina (London: Chocó ore, 83%?) = £ 1.15
1894: 1 Troy Oz. platina (UK: Chocó ore, at purity) = £ 1.38

1894: 1 Troy Oz. Platinum (manufactured, wholesale) = £ 2. (USD$ 9.78)

 

 

Citation: Mineral Resources of the United States 1906 (1907) p.30 


The Chocó platinum is the purest and best sold in foreign markets, as it contains from 80 to 85 per cent of pure metal. Its price had already risen in 1894 to 900 francs, or £36 ($180), per pound. In spite of the high price it commands in the world's markets, the exploitation of the potentially rich platinum deposits of Colombia has been so slight that, as stated by Mr. P.P. Demers, the American consul at Barranquilla, only 661 pounds of it were produced in the Chocó in 1905.

France, 1884

1884: 1 Troy Oz. platina (SPb, Russia: Intrinsic?) = Fr 26.58 (USD$ 5.14)

1884: 1 Troy Oz. Pt (Paris: Ru. Ore, .999) = Fr 33.23 (USD$ 6.42)


 
Paris-trained Restrepo (1884) quotes a price in French Francs, presumably a global (Paris) market price for Colombian platina or bulk Platinum.

1884: 1 Troy Oz. platina (Paris: Colombian Ore, 82%) = Fr 27.99 (USD$ 5.41)
1884: 1 Troy Oz. Pt (Paris: Col. Ore, .999) = Fr 34.14 (USD$ 6.60)
   
Citation: Estudio sobre las minas de oro y plata de Colombia, Vicente Restrepo (Marzo de 1884)p.106



1884: 1 Troy Ounce Platinum (Paris: Mkt?) = Fr 37.3242 (USD$ 7.215) 
1884: 1 Troy Oz. Platinum (Paris: Mfg? Retail?) = Fr 46.655 (USD$ 9.02)

Early 1884:

Citation: Traité de minéralogie appliquée aux arts, a l'industrie, au commerce...; Raoul Jagnaux (1885)

Costs of Scientific Equiptment:















 



 

This Belgian text cites Restrepo (1884) but gives a dramatically lower platina price. This might be a typographical error, or a local spot-price for ore.

1884: 1 Troy Oz. platina (Source: Choco, Colombia; 85% ore) = Fr 9.33 (USD$ )

1884: 1 Troy Oz. platina (Source: Colombia; 85% ore) = Fr 10.97 (USD$ )

18??: 1 Troy Oz. platina (Paris: Colombia; 85% ore) = Fr 20.22 (USD$ ) 
1883/4: 1 Troy Oz. platina (Paris: Colombia; 85% ore) = Fr 29.99 (USD$ )

Citation: Bulletin de la Société royale de géographie d'Anvers Vol. 12  (1887) "Mines d'or et d'argent de la Colombie" M. Pol. de Bruycker

Colombia, 1884

Assuming Colombia's annual platina yield was 916.67 kgs.

1884: 1 Troy Oz. platina (Source: Choco, Colombia; 85% ore) = Fr 9.33 (USD$ )

Citation: Bulletin de la Société royale de géographie d'Anvers Vol. 12  (1887) "Mines d'or et d'argent de la Colombie" M. Pol. de Bruycker

Approximately 15% of the global yield came from Colombia (Choco.)

Citation: Mineral Resources of the United States, Vol. 2 US Geological Survey (1885) p.577

Colombia, 1820

"Because of the chaos that occurred during the bloody war against Spain, there is an almost complete absence of published fiscal records for the decade 1810–20. Anibal Galindo, a prominent economic commentator of the nineteenth Century, expressed this situation very clearly :"The period from 1810 to 1821, when when the Republic of Colombia was founded, has no fiscal history."

Bolivar to Santander, July 1820:
"De platina y dinero, raya al que venga, y pedir más. No voy a Ocaña por este armisticio."
 
From a summary report dated December 1820, the Colombian government began gathering platina in the Summer of 1820.  The local ore price should have begun rising at that time, although the low official price still favored (British) export.

Cochrane (1825) reported platina delivered at the Mint received promissory paper (and some miners suffered outright confiscation) in exchange, poor bargain for Colombian producers, so 4/5th of the yield went to British traders and Jamaica.

Citation: Colombia: being a geographical, statistical [&c.] account of that country ; Alexander Walker

Revision to the 1826 Edition: known properties for platina

Citation: Essai politique sur le royaume de la Nouvelle Espagne ; Alexander von Humboldt

The Colombian Peso was underweight 1819-21:

 

Russia, 1817

The famous blind traveler Holman describes the area around Ekaterinbourg, and the estate of the extraordinary Englishman, Joseph Major.

After involvement with a number of steam-engine and pump-related projects (and a large galvanic battery, in 1801) Major had worked at the St. Petersburg Bank Mint (Cyrillic initials "O.M." on Gold 5-Rouble Coins, 1797-1800) before settling in Siberia circa 1803. He built a steam-engine for A. Knauf's copper-smelter (1804) and with with son Alexander had an enterprise for the mass-production of engines.

Gold from his property was scant, a few pounds per year, but Major certainly had familiarity with Platinum, having employed it in his various professions.

He was murdered on his estate by Gold thieves in 1833.

From/to the Urals, news to/from St. Petersburg was 17-23 days delayed.

1817: 1 Troy Ounce Fine Gold (High Cost) = 72.910 руб Banco (26.513 руб Silver) £2.89 1817: 1 Troy Oz. Fine Gold (Low Cost) = 21.873 руб Banco ( 7.954 руб Silver) ; £ 0.87

Citation: Travels through Russia, Siberia, Poland, Austria, Saxony, Prussia ..., Vol.1; James Holman (18 ) pp.





 



General knowledge in Russia of PGMs, c.1817

Russia, 1820

Cochrane describes the area where platina was discovered. For the Russian Crown, the English (and sub-altern Germans) were directing the Ural mines, staffed by poorly-paid serfs who - it is clearly insinuated - stole from their master. Specimen Gold & minerals were notably collected, off-market.

Economic circumstances were perfect for the establishment of a contraband trade in platina, at the time of the major field discovery. 
 
Citation: Narrative of a pedestrian journey through Russia and Siberian Tartary... ; John Dundas Cochrane (1825) pp. 72-






Russian food commodity prices at Odessa, 1818-1826


Although perishable commodities sold in bulk entailed additional fees, foreign trade certainly entailed many costs associated with credit, insurance, shipping and handling.

 

1819/20 Exchange Rate

 

Russia, 1822

1822: 1 Troy Ounce platina (SPb: Ore 80%) = 4.375 руб Acc.

  The first buyer was the government. From the years 1825-1843 the delivery of the whole platinum gained to the Crown was required. The price paid was initially (1822?) 60 Kopecks per Zolotnik, or {140.66 руб Acc.} per kilogram, with 10 to 12% deducted by the assayer {123.78 руб Acc., net}.  Three years (1825?) later, it rose to {230.31 руб Acc.} per kilogram and finally the coining period (1828-1843) to {290.25 руб Acc.}

Citation: Prometheus: Illustrierte Wochenschrift über die Fortschritte..., Vol. 18, No. 904, p.309 

1822: 1 Troy Ounce platina (Error @ "Rouble rate") = £ 0.9042

1822: 1 Troy Oz platina (ore, @ Silver Rouble rate) = £ 0.2260

Citation: The Mineral Industry, Vol. 17 (1908) p.718

1819-22: Platina was separated from Gold at Neiwin ; collected at Jekaterinburg.

1826: Confirmation of the Ural discovery ('rumor') was widely reported in Continental journals of the scientific community; here, a footnote to a Boussingault's 18 April 1826 'Colombian Letter to Humboldt'

Citation: Annales de chimie et de physique; Louis-Bernard Guyton de Morveau, p.206