22
May
An Overview of U.S. Bullion Depositories
Jon Cavuoto
Where Does America Keep Its Gold? Inside U.S. Bullion Depositories
Altogether, the United States possesses 261,498,926.230 fine troy ounces of gold in reserve. For private investors looking to diversify their portfolios, these massive government holdings are a reminder of gold’s enduring value. If you’re looking to buy gold bars, San Diego offers several reputable dealers who can help you invest in physical gold securely and confidently.
So where does the United States government keep its gold? Fort Knox is the answer that first comes to mind for most people. However, other depositories in the U.S. are just as important. Take a moment to learn more about U.S. bullion depositories.
Fort Knox (Kentucky)
Fort Knox holds the largest deposit of gold in the U.S. with 147,341,858.382 fine troy ounces of gold bullion bars. The well-known facility, which has a blast-proof door, was built in 1936. The fort itself dates back to the Civil War and was once a training camp during the First World War. The gold stored here is located deep underground, and there are several protective measures in place to prevent theft. There are plans underway to audit the facility to ensure all the gold is still in place. The facility has been audited periodically throughout its history.
West Point Mint (New York)
This facility was created a year after Fort Knox was built. It holds bullion in the form of silver and gold. It had the largest concentration of silver in the U.S. at one point. Today, the depository houses the second-highest concentration of gold bullion bars in the country—a total of 54,067,331.379 fine troy ounces.
The Denver Mint (Colorado)
Built in 1863, the Denver Mint is now in a more modern facility. It was originally an assay office for the U.S. government. It has a rich history of refining gold that was discovered during various gold rushes of the late 1800s and early 1900s in the area. Today, the depository holds 43,853,707.279 fine troy ounces of gold.
Federal Reserve Bank (New York)
The Federal Reserve Bank in New York holds a small portion of gold bars and coins. The reserves here are used to provide resources to central banks and governments. Germany took back some of its gold bullion from the bank recently, although some bars were left in place. The gold is held in the basement of the facility. After World War II, the bank was one of the main storage facilities for gold bars in the United States. The facility was also used during the Cold War to hold large reserves of gold. Today, the bank houses 13,452,810.534 fine troy ounces of gold.
Other Facilities Around the Nation
The facilities mentioned above hold more than 200 million fine troy ounces of gold in the form of bars. The United States has what’s referred to as a “working stock” of gold kept at other facilities throughout the nation. These facilities hold gold coins, blanks, and other items the U.S. government may need at any given time. The United States Mint, which makes well-known coins like the American Eagle designs, contains an additional 2,783,218,656 fine troy ounces of gold.
If you’re interested in buying gold bullion or you’re looking for the best place to sell gold in San Diego, make sure to work with trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to buy or sell precious metals, including gold, silver, platinum, and palladium. Give us a call today.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.
Altogether, the United States possesses 261,498,926.230 fine troy ounces of gold in reserve. For private investors looking to diversify their portfolios, these massive government holdings are a reminder of gold’s enduring value. If you’re looking to buy gold bars, San Diego offers several reputable dealers who can help you invest in physical gold securely and confidently.
So where does the United States government keep its gold? Fort Knox is the answer that first comes to mind for most people. However, other depositories in the U.S. are just as important. Take a moment to learn more about U.S. bullion depositories.
Fort Knox (Kentucky)
Fort Knox holds the largest deposit of gold in the U.S. with 147,341,858.382 fine troy ounces of gold bullion bars. The well-known facility, which has a blast-proof door, was built in 1936. The fort itself dates back to the Civil War and was once a training camp during the First World War. The gold stored here is located deep underground, and there are several protective measures in place to prevent theft. There are plans underway to audit the facility to ensure all the gold is still in place. The facility has been audited periodically throughout its history.
West Point Mint (New York)
This facility was created a year after Fort Knox was built. It holds bullion in the form of silver and gold. It had the largest concentration of silver in the U.S. at one point. Today, the depository houses the second-highest concentration of gold bullion bars in the country—a total of 54,067,331.379 fine troy ounces.
The Denver Mint (Colorado)
Built in 1863, the Denver Mint is now in a more modern facility. It was originally an assay office for the U.S. government. It has a rich history of refining gold that was discovered during various gold rushes of the late 1800s and early 1900s in the area. Today, the depository holds 43,853,707.279 fine troy ounces of gold.
Federal Reserve Bank (New York)
The Federal Reserve Bank in New York holds a small portion of gold bars and coins. The reserves here are used to provide resources to central banks and governments. Germany took back some of its gold bullion from the bank recently, although some bars were left in place. The gold is held in the basement of the facility. After World War II, the bank was one of the main storage facilities for gold bars in the United States. The facility was also used during the Cold War to hold large reserves of gold. Today, the bank houses 13,452,810.534 fine troy ounces of gold.
Other Facilities Around the Nation
The facilities mentioned above hold more than 200 million fine troy ounces of gold in the form of bars. The United States has what’s referred to as a “working stock” of gold kept at other facilities throughout the nation. These facilities hold gold coins, blanks, and other items the U.S. government may need at any given time. The United States Mint, which makes well-known coins like the American Eagle designs, contains an additional 2,783,218,656 fine troy ounces of gold.
If you’re interested in buying gold bullion or you’re looking for the best place to sell gold in San Diego, make sure to work with trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to buy or sell precious metals, including gold, silver, platinum, and palladium. Give us a call today.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.