What was platinum worth in 1828?

MrEureka

That's when Russia started using platinum in its coinage.

Bonus question: What was it worth in 1814?

theboz11

In whose currency


U.S. would probably be $.50


US Platinum $.50

Rickc300

I am not sure of the price but I would guess that the price was weighed in pounds instead of ounces. I am basing this on what a coin shop owner back in California told me. Platinum back in the 1800's primary use was as a use for lightning rods and had no real value as a precious metal like gold or even silver (which are currently used in almost everything cutting edge tech; medical, computers, space exploration, implants and even the quest for artificial intelligence). I am interested in seeing the responses and the answers to this question as well as a rebuttal to its current high tech uses like gold currently has in the modern world. If the world economy completely collapsed would platinum hold its value in trading/bartering as compared to silver and gold?

Rick

Edited to say when I said pounds not ounces I am talking weight, not value or other English means of value... Boy those confuse me~! Platinum may have even been traded in tons much like modern iron does today (from what I have heard)...

MacCrimmon

<< <i>In whose currency


U.S. would probably be $.50


US Platinum $.50 >>




"This coin was also described by R. Coulton Davis in his work Patterns and Experimental Issues of the United States Mint, which appeared as a series in The Coin Collectors’ Journal from July 1885 to January 1887. 3. Ex: Nick Parker (per Don Taxay); currently untraced."

Does this mean this specimen is untraced, or Don Taxay is currently untraced ???

tydye

If there ever was a coin I would reach for this would be the one. But unfortunately even a 40 foot extension ladder would not put me in position to purchase

PBRat

Just a guess ... 1814 ... 1 troy oz Pt = 1 pound, 5 shillings

cladking

I'd guess about $12 per troy ounce or a little more or less.

It's always been prized for its very high melting temperature
and a few other characteristics.

I wouldn't be too surprised if it got under $8 at some point.

IloiloKano

<< <i>Platinum back in the 1800's primary use was as a use for lightning rods >>



I want some of them lightining rods.

TitusFlavius

Crunching some numbers between a Russian 12 Rouble (Platinum) and a contemporary gold 5 Rouble, Sovereign, and Half Eagle:

10.82 Roubles per oz.

1/9s/6d per oz.

$7.19 per oz.

I used an 1836 half eagle since the 1828 was undervalued at the time relative to its gold content. The Russian and British standards remained the same during this period.

ProofArtworkonCircs

<<It's always been prized for its very high melting temperature>>

and despised by some for that very same reason.

cladking

<< <i><<It's always been prized for its very high melting temperature>>

and despised by some for that very same reason. >>




Indeed.

It was typical for laboratory crucibles back in the day but
now is usually too expensive or too difficult to hold onto.