Where America’s Gold Reserves Are Stored

 

In total, the United States owns or stores 261,498,926.230 fine troy ounces of gold in reserve. Therefore, the question that comes to mind for most people is “Where is all that gold kept?” Most people assume it’s in Fort Knox. While Fort Knox holds a lot of gold, it’s not the only place where gold is kept in the United States. Keep reading as the precious metals experts from First National Bullion, the best place to buy gold in Carlsbad, go over where America stores its gold.

Fort knox


Fort Knox

Constructed in 1936 and located in Kentucky, Fort Knox holds 147,341,858.382 fine troy ounces of gold bullion bars. The facility is incredibly secure with walls lined with granite. The facility that’s located in the old Army post is the most secure of the nation’s gold depositories. It has been audited from time to time to determine if everything is there, and the answer is always a resounding yes.

West Point Mint

The West Point Mint holds the nation’s second-largest collection of gold in the United States. There’s a total of 54,067,331.379 fine troy ounces of gold stored here. At one point, the facility housed the most silver held in one place. Today, the facility is best known for its collection of gold. Located near the United States Military Academy in West Point, New York, the mint is guarded well, and the gold is always safe and secure.

Denver Mint

The Denver Mint was originally a place where gold from the various gold rushes from the late 1800s through the early 1900s was stored. Established by an act of Congress in 1862, the mine opened in 1863. It became an official branch of the U.S. Mint system in 1906. While the facility stores 3,853,707.279 fine troy ounces of US gold, it also produces gold coins. Today, the mint is the world’s largest producer of gold coins in the world.

The United States Mint

The United States Mint holds on to a “working stock” of gold at various locations throughout the nation. If you count all gold items (blanks, miscellaneous gold items, etc.), the US Mint holds an additional 2,783,218,656 fine troy ounces of gold.

The Federal Reserve Bank

The Federal Reserve Bank of the United States holds a smaller portion of gold reserves. At one time, the bank housed 12,000 tons of gold between World War II through the end of the Cold War. The gold held here isn’t owned by the bank. It’s owned by various public and private entities, including the US government and other governments around the world. The gold is held in vaults located below sea level.

The reserve bank displays some of its gold coins and bars. The rest of the collection is stored in the vaults. The total amount of gold held at the New York branch in the vault is 13,452,810.534 fine troy ounces of gold. You can view what’s on display, a collection that includes some impressive and rare coins, if you visit the New York location.

 

If you’re interested in buying gold bullion or you’re looking for the best place to sell gold in Carlsbad, 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.