Ch. 2: Platinum in 1920

Page of 57

Text size:



	44 MINERAL RESOURCES, 1920----PART I.

	Average prices of platinum per troy ounce in the New York market, 1918-1920 1913.......................................................... $44.88 1914.......................................................... 45. 06 1915.......................................................... 49.63 1916.......................................................... 83.40 1917.......................................................... 102.82 1918.......................................................... 105. 95 1919.......................................................... 114.60 1920: January................................................. 154. 00 February................................................ 152. 50 March.................................................... 140. 20 April.................................................... 1 28. 50 May...................................................... 96.10 June.................................................... 85. 50 July..................................................... 82. 50 August................................................... 111. 00 September................................................ 115. 62 October.................................................. 103. 50 November............................................... 89. 39 December............................................... 80. 00 Average for 1920.............................................. 111. 58 The United States Geological Survey has used the prices given in the following table in calculating the value of platinum metals. As will be noted, these figures do not in all respects agree with the open-market quotations that are given in the foregoing table. The accepted figures are, however, believed to represent more nearly the actual sales.



	Domestic producers of placer platinum received from $50 to $198 an ounce for their crude platinum in 1920, as compared with $63 to $108 an ounce in 1919. The price paid for various lots depends so much upon the care that has been used in cleaning the metal before shipment and upon its content in the various platinum group metals that it is impossible to give an idea of what price may be expected. Many of the buyers are now purchasing on the basis of metal content, which should be much more satisfactory to all concerned. Some Australian crude platinum, presumably mostly osmiridium, brought $163 an ounce. The average price paid for Colombian crude in 1920 was $103. The principal buyers of foreign and domestic crude platinum in the United States are listed below. American Platinum Works, 325 New Jersey Railroad Avenue, Newark, N. J. Baker & Co. (Inc.), Murray and Austin Streets, Newark, N. J. David Belais, 13 Dutch Street, New York, N. Y. Sigmund Cohn, 44 Gold Street, New York, N. Y. 3 Eng. and Min. Jour., vols. 109 and 110, weekly quotations.

Page of 57