Front Page Titles (by Subject) Platinum. - Money and the Mechanism of Exchange
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Platinum. - William Stanley Jevons, Money and the Mechanism of Exchange 
Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876).
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This is one of those comparatively rare metals which have been known only in recent times. Its extremely high melting-point, and low affinity for oxygen, render it one of the most indestructible of all substances, whilst its white colour, joined to its excessively high specific gravity, are marks which cannot be mistaken. As it seemed in these respects well suited for currency, the Russian government, which owns the principal platinum mines in the Ural mountains, commenced to coin it, in 1828, into pieces intended to have the values of twelve, six, and three roubles. Several objections to this use of the metal soon presented themselves. The appearance of platinum being inferior to that of silver or gold, it is seldom or never employed for purposes of ornament, and its only extensive use is in the construction of chemical apparatus. Hence there is no large stock of the metal kept on hand, and the localities where it is found being few, the supply is incapable of being much increased, so that any variation of demand is sure to cause a great change in its value. Moreover, the cost of making the coins was very great, owing to the extreme difficulty of melting platinum, and the worn coins could not be withdrawn and recoined without much additional cost. Platinum being thus found to be quite unfitted for currency, the scheme was abandoned in 1845, and the existing coins withdrawn from circulation.
Great improvements having been lately made in the modes of working platinum, it was proposed by M. de Jacobi, the representative of Russia at the International Monetary Conference held at Paris, in 1867, that platinum should be employed for the coinage of five-franc pieces. It is not likely that such a suggestion will be adopted.