The vault was built in 1936 in fort knox, kentucky, in order to hold all of the gold collected from president roosevelts executive order 6102. Download premium images you cant get anywhere else. The federal government keeps more than half of its goldsome 5,050 tonsstashed inside the bullion depository in ft. Find highquality fort knox stock photos and editorial news pictures from getty images. The golden secrets of fort knox revealed moneywise. The united states bullion depository, often known as fort knox, is a fortified vault building located next to the united states army post of fort knox, kentucky. This graphic shows the amount of gold reserves held at fort knox, west point, and denver. Eventually, they join forces to defeat a bigger conspiracy. The physical inventories were monitored to see if proper controls were.
The facility, with its security systems shrouded in secrecy, houses the largest portion of the united states gold reserve. A large amount of the united states gold reserves is stored in the vault of the fort knox bullion depository, one of the institutions under the supervision of the director of the united states mint. Graph and download economic data for book value of u. Government owned gold reserve at the values stated in 31 usc 51165117 statutory rate. The gold is held as an asset of the united states at a total book value of. Fort knox gold isnt used to make gold coins, medals, and bars for citizens. It is now clear that they didnt have very much gold left to pay. This amount is almost 50% more gold bullion than the usa currently claims to hold in its fort knox vaults.
The vault is used to store a large portion of the united states gold reserves as well as other precious items belonging to or in custody of the federal government. Get your fort knox bullion depository facts right here, from americas. Fort knox to celebrate mothers day may 10 with drivein service. Ive used the governments own words and statements to paint a picture i think is. Fort knox officially contains 147 million ounces of goldcall it one fort knox gold unit fkgu. How much gold, silver and platinum are stored at fort knox.
The value of the gold held in fort knox changes every day because the price of gold changes every day. One of the littleknown items on the feds balance sheet is a vital asset it received from the u. This took america off the gold standard and all the gold turned in, was melted down. The vault is used to store a large portion of the united states gold reserves as well as other. Fort knox, ky fkkygbv from jan 2012 to apr 2020 about gold, ky.
The first screen shots below are from a gold verification at fort knox in march 1998. What im mostly after is what kind of bullion was exactly imported since 1934, coin bars or 995 bars, as we know now the gold in fort knox hasnt been supplied by us coins in circulation before 1933, though the fort knox bar list shows most of the gold is 900 fine. How much gold is in fort knox and is it enough to get the usa. Knox street fort knox, kentucky 401217033 1502943 1502943 email hotel. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. See what power, features, and amenities youll get for the money. Working undercover at fort knox to investigate a twodecadesold murder, slaughters will trent deems childs jack reacher his chief suspect, never mind that reacher is there to stomp out a festering crime ring. The first gold was moved to the depository by railroad in january 1937. As mentioned, since we arent on the gold standard, it shouldnt make much difference to our currency. But i think everyone would want to know why the gold was gone. Sep 27, 2017 fort knox is located in fort knox, kentucky at the intersection of gold vault road and bullion boulevard.
The vault of the fort knox bullion depository holds much of the united states gold reserves. The only gold removed has been very small quantities used to test the purity of gold. Inventories of gold and other assets at fort knox and the. Read a digital copy of the latest edition of the gold standard online. View market values for books, store your collection, and meet fellow comic fans.
The truth about the fort knox gold by the daily coin published august 23, 2017 updated august 23, 2017 one of the littleknown items on the feds balance sheet is a vital asset it received from the u. Afcea international can bridge the gap between government, industry, and academia by exploring relevant, common issues and sharing knowledge within the local it community. This comes very short of getting the us out of its 14. The united states bullion depository at fort knox, kentucky is not a production facility it stores precious metal bullion reserves for the united states. Fort knox, ky fkkygbv from jan 2012 to mar 2020 about gold, accounting, ky, reserves, and usa. Book value is determined such that the department of the treasury records u. Theres no compelling reason to empty the vaults at fort knox and selling the gold would ignite a political firestorm. Were not sure which one you find more valuable, but whatever it may be, these fort knox gold chocolate coins will make you feel like youve struck it rich every time you take a bite. Governmentowned gold bullion reserve which the mint secures in sealed vaults that are examined annually by the treasury departments. With a gleaming gold aluminum wrapper and tasty chocolate coin center, unwrap each coin one. The remaining gold reserves are held in the philadelphia mint, the denver mint, the west point bullion depository and the san francisco assay office, also facilities of the united states mint. Coin world image the latest book value of gold owned by the. How much gold is in fort knox and is it enough to get the.
With not much to do today, i thought id get an answer to an intriguing question sent to me by a visitor to my site. The secretary shall hold gold in the treasury equal to the required dollar amount as security for gold certificates issued after january 29, 1934. Originally staked in 19, the property sat idle until being restaked in 1980, and purchased by amax gold, who brought the mine into production. What is the value of the gold stored at fort knox answers. The treasury has to give this figure, whether it wants to or not. But here at, we hold a good portion of the worlds sweets. Fort knox is located in fort knox, kentucky at the intersection of gold vault road and bullion boulevard.
Ive tried to make it a clear and readable history of what happened to the gold confiscated from americans and put into fort knox in the 1930s. Mar 25, 2015 sixty percent of the total amount of deepstorage gold is stored at the u. Us mint releases new fort knox audit documentation. Fort knox bullion depository the weird thing is, the mint lists the gold at a book value of. Embedded below is a point in a popular podcast illustrating the kinds of brutalities that occurred in this then 19371938 chinese capital city of nanjing. That series of shipments was completed in june 1937. The united states bullion depository, better known as fort knox or sometimes the gold fortress, carved quite a reputation, thanks to the imagination of tv developers, video game designers, novelists, conspiracy theorists, and even policymakers. Courtesy of fort knox cultural resources \ considered the first newspaper at the start of what is modernday fort knox, the camp knox news included a full staff of writers, editors and layout artists. It is operated by the united states department of the treasury. Mar 02, 2017 more than half of the total reserves4,582. Curiously, however, in a recent exchange of emails with a gold investment blog, the former director of that agency demonstrates a. What would happen to the value of the usd if all the gold.
The latest book value of gold owned by the united states treasury tops. Larry kudlow and i published a book on the history of the great john f. Everything you need to know about fort knox american bullion. Learn about how kinross is making a positive contribution in the host communities and countries where we operate. The worlds biggest bank, as it used to be called, has had a rich history. It is owned and operated by toronto based kinross gold. In 1936 the united states bullion depository at fort knox was built to store all the gold. May 01, 2018 fort knox is why we dont have a gold standard. Fort knox chaplains will host may 14 baccalaureate for class of 2020. Fort knox is perhaps bestknown for the united states bullion depository, or gold vault, as it is affectionately called by millions around the world. It was built in 1936 to house the massive gold reserves that came about because of an. Of course, lots of silver and platinum bullion bars as well. Highest gold holdings in the previous century were.
Sixty percent of the total amount of deepstorage gold is stored at the u. Investigative reporter brian deer answers a readers query about the bargainbasement book value of government bullion. Army human resources command and senior leaders met with a delegation from the brazilian army in the command headquarters at fort knox, kentucky, feb. The famed fort knox is a facility managed by the u. Book value of gold held by treasury tops 11 billion dollars. Ownership transferred to kinross gold following its 1998 merger with amax. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. The fort knox religious services office is hosting a drivein fort knox baccalaureate service in honor of the fort knox middle high school 2020 graduati. Fort knox is why we dont have a gold standard forbes.
It is located approximately 30 miles southwest of louisville, kentucky, on a site which was formerly a part of the fort knox military reservation. The truth about the fort knox gold the daily reckoning. Basic standards of fort knox blue book rescinded look for the fort knox basic standards handbook on the fort knox policies page. According to the bureau of the fiscal reserve, there are 147,341,858. The politics of gold is complicated, highly emotional and very partisan. As for book value, the treasury declares the following data. Apr 08, 2020 graph and download economic data for book value of u. Mints fort knox gold bullion depository in kentucky.
How much does one bar of gold at fort knox weigh, and how. I think politics is another reason we hold onto the gold. Pretend the gold remains in fort knox and then calculate interest expenses measured in fkgus. Read more about our commitment to responsible mining.
208 586 1123 1414 1189 1529 410 84 353 1331 1579 772 1427 282 1260 380 1270 1043 763 1109 408 386 27 945 1454 417 204 463 45 834 244 766 149 690 207 844 745 14 808 1431 261 974 260 572 916 142 1139 1373 634 1436