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Just how much gold do you think is in Fort Knox?

Speculate awayimage My older brother is a 'goldbug' and is unswerving his his belief that there is much less in the repository than the US govt leads the public to believe. He believes the govt has gradually depleted its gold supply by strategically selling its gold over the years at critical moments so as to suppress gold's value. Conspiracy nonsense? Fifteen years ago, my finance professor taught me that the Fort Knox gold supply was established and maintained so that if there was a catastrophic, global economic meltdown necessitating a return to the gold standard, we would have the most gold and thus be best positioned. I looked at my bookstore this weekend, but I didn't find any interesting books about Fort Knox.

Comments

  • What if they sold all the gold to paper investors and then charged the buyers a fee to hold it for them?
    That would work out great...keep the price down, keep the physical gold, and get extra income from the fees!

    So, the US would 'own' no gold, but have physical posession and control of it.
    Mark Piersall
    Random Collector
    www.marksmedals.com
  • Its' all in the Potomac, right below Great Falls.imageRespectfully, John Curlis
  • rgCoinGuyrgCoinGuy Posts: 7,478
    I tend to believe the government on this one. One thing I am curious about is whether or not the military actually got the gold the was supposedly in Victorio Peak and if that gold is now at Fort Knox.
    imageQuid pro quo. Yes or no?
  • slipgateslipgate Posts: 2,301 ✭✭
    0
    My Registry Sets! PCGS Registry
  • Its' all in the Potomac, right below Great Falls.Respectfully, John Curlis

    I wonder what else is hidden in those rapids: pirate treasure, rusty tin cansimage
  • LanLordLanLord Posts: 11,723 ✭✭✭✭✭
    I am not one of the "conspiracy theory" guys on this one.

    I believe that the govt. has all the gold in Ft. Knox now that was there when they opened it up in the 70s for reporters to see. With the possible exception of gold belonging to other countries.
  • 291fifth291fifth Posts: 24,583 ✭✭✭✭✭
    Scrooge McDuck secretly purchased the entire supply in 1997. All of it is now stored in his money bin in Duckburg.
    All glory is fleeting.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,501 ✭✭✭✭✭
    I served there. It's more green than gold
    and more brass than grass.
  • Lets get real here... Why would anybody tell you where they have a large stash of gold.. "Oh yes I have gold right here" Fort Knox is a ploy... The gold is elsewhere..
  • JoesMaNameJoesMaName Posts: 1,065 ✭✭✭
    Not that I personally care one way or another, but as a rule:
    Whenever one party refuses to act transparently to a second party
    concerning how the assets of the second party are managed, I have doubts.
  • guitarwesguitarwes Posts: 9,289 ✭✭✭

    As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.


    according to the U.S. Mint's website and the spot gold price.
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  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    It's really all stored at Russ's place!!!
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • JoesMaNameJoesMaName Posts: 1,065 ✭✭✭


    << <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.


    according to the U.S. Mint's website and the spot gold price. >>



    Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third image
  • coolestcoolest Posts: 2,281 ✭✭✭
    Since it is so common for our government officials to lie to us espessialy about important maters I am going to assume no gold is left.
  • DoogyDoogy Posts: 4,508


    << <i>

    << <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.


    according to the U.S. Mint's website and the spot gold price. >>



    Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third image >>



    actually, if i recall, the rankings have changed: 1. Carlos Slim 2. Warren Buffet 3. Bill Gates


    edited to add: yeah, you're point is valid. If that number is correct (133b), it is scary that 3 folks hold that much alone

  • droopyddroopyd Posts: 5,381 ✭✭✭


    << <i>

    << <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.


    according to the U.S. Mint's website and the spot gold price. >>



    Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third image >>




    However, a lot of that wealth is only "theoretical" wealth, backed by non-government securities such as stock holdings.
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    They do have 10 1933 Double Eagles there. . .


    That is when they're not out flaunting them at coin shows! image
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • DJCoinzDJCoinz Posts: 3,856
    Not enough...
    aka Dan
  • Ed62Ed62 Posts: 857 ✭✭
    The United States Bullion Depository (i. e. Ft. Knox) holds about 5,037.5 tons (4,570 metric tonnes) of gold bullion (147.3 million ounces[1]). It is second in the United States only to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds about 5,000 metric tons of gold in trust for many foreign nations, central banks and official international organizations. -- from Wikipedia
    Ed
  • ARCOARCO Posts: 4,428 ✭✭✭✭✭
    133 billion huh? That equals about one quarters worth of write-offs caused by the sub-prime bust by the financial wall street firms, hedge funds and other financial entities.

    This tax season we the tax-paying public are going to receive in the form of a rebate check -- and spend that whole amount ($150 billion) and more, buying more plastic pumpkins from China as a free gift from our goverment.

    Tyler
  • guitarwesguitarwes Posts: 9,289 ✭✭✭

    I tell ya though, like I've said before.....In a deep recession time, I'd rather have corn than gold. This coming from someone who has enough land and know how to grow his own food.

    "Ya can't eat gold boy!"


    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    Well, I know for a fact that there are at least, and I mean the bare minimum of 9 oz of gold in Ft. Knox!

    These 9 oz are currently masquerading as 10 individual 1933 Double Eagles!

    As for the other, I really could care less how much is in there and simply takes the governments response at face value! After all, we are no longer on the gold standard so what's the biggie?
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    One more thing, where does the US Mint get the gold they make the Gold Eagles out of?
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • tahoe98tahoe98 Posts: 11,388 ✭✭✭


    132.84 billion dollars worth.
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
  • TexastTexast Posts: 1,899 ✭✭✭✭
    Why would they sell the gold when they can just print more money??
    On BS&T Now: Nothing.
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  • carew4mecarew4me Posts: 3,479 ✭✭✭✭
    It is second in the United States only to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds about 5,000 metric tons of gold in trust for many foreign nations, central banks and official international organizations.



    I think I know a way to pay off the deficit!

    Loves me some shiny!
  • fastrudyfastrudy Posts: 2,096
    More than enough to cover Hillary's campaign expenses!
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  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.

    That amount would back our circulating currency to the tune of 100 - 1. A small number but still a control.

    You can't eat gold boy

    Well how many investments out there can you store serious quantities of and actually "eat?" Let's name a few that aren't very edible: savings account, CD's, stocks, bonds, oil, natural gas, land, timber, gold, silver, copper, nickel, ivory, diamonds, beanie babies, antiques,
    lead, uranium, meteorites, rubber, silk, cotton, etc. Man, it's hard to find any investment you can actually eat! Essentially nothing is the answer. So who cares if you can't eat gold. Jedd Clampett couldn't drink his Texas Tea either, but he was a millionaire x 80.

    Now those of the corn, water, milk, sugar, coffee, variety how much can you store to make this an "investment?". Obviously having stock in these items doesn't mean you ever get any if you want, not even in an ETF. So if your not a farmer w/o a grain silo, how much corn could you keep at home in place of say 10 - 1 ounce AGE's? ($9,000) And how long would it keep?

    If it was no biggie how much we have at Fort Know why is not audited more often? Why can't it be made more transparent how much we own and how much has been leased or sold?

    I would guess that less than half survives under US ownership. Much of the rest went to the Bundesbank and other CB's in keeping gold suppressed in the 1995-2005 era. But the BIS is smart and allows both parties (seller and buyer) to keep the gold on their books, even though one of them no longer owns it. If ENRON had followed this type of GUSAP accounting principles they would still be around today fleecing more investors.

    GUSAP = Generally Unacceptable Stupid Accounting Principles

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>Alot. >>



    "The Depository is a classified facility. No visitors are permitted, and no exceptions are made."

    Pretty much nullifies everything mentioned before it.
  • fastrudyfastrudy Posts: 2,096



    No visitors are permitted, and no exceptions are made."


    Except for James Bond movies.[
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  • FredWeinbergFredWeinberg Posts: 5,911 ✭✭✭✭✭
    I've been in the gold vault room at the West Point Mint,
    and at the time, the value was about $17 Billion, if I recall.

    I saw something a few months ago that said the gold
    there was valued at $30 Billion, so that makes sense......

    (I actually got to hold one of the bars - heavy puppies!!!)
    Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
  • << Alot. >>

    The gold is held as an asset of the United States at book value of $42.22 per ounce
  • BearBear Posts: 18,953 ✭✭✭
    How much gold, could Fort Knox

    Hold, If Fort Knox actually did

    Hold gold?
    There once was a place called
    Camelotimage
  • GoldenEyeNumismaticsGoldenEyeNumismatics Posts: 13,187 ✭✭✭
    THere's far more gold in the NY Federal Reserve Bank than at Fort Knox.
  • ILikeMercsILikeMercs Posts: 1,392
    reserves as of 2005 (World Almanac) says 252 million ounces in reserve. Doesn't get specific on it's whereabouts.
    imageDo not taunt Happy Fun Ball image
  • rainbowroosierainbowroosie Posts: 4,875 ✭✭✭✭
    None. The US is only holding gold for its rightful owner -- the People's Republic of China -- wish this was an April Fools Day answer...image
    "You keep your 1804 dollar and 1822 half eagle -- give me rainbow roosies in MS68."
    rainbowroosie April 1, 2003


  • << <i>Its' all in the Potomac, right below Great Falls.Respectfully, John Curlis

    I wonder what else is hidden in those rapids: pirate treasure, rusty tin cansimage >>



    Jimmy Hoffa
    In the time of Chimpanzee's
    I was a Monkey
  • konsolekonsole Posts: 795 ✭✭✭


    << <i>

    << <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.


    according to the U.S. Mint's website and the spot gold price. >>



    Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third image >>



    I heard Buffet moved into 1st
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,501 ✭✭✭✭✭


    << <i>None. The US is only holding gold for its rightful owner -- the People's Republic of China -- wish this was an April Fools Day answer...image >>


    They'd prefer our land to our gold, I'd think.


  • << <i>I tell ya though, like I've said before.....In a deep recession time, I'd rather have corn than gold. This coming from someone who has enough land and know how to grow his own food.

    "Ya can't eat gold boy!" >>



    Amen! thats why I have 28 more fruit trees coming this month, but a little gold or silver isn't a bad thing to have arround.. a couple silver dollars will pick up a good breeding pair meat rabbits, if need be.. I am not going to crawl in a bunker and hide from the world.. but I can feed my family with I have, or trade what I have for what I need if things get too bad. image

    "I am sorry you are unhappy with the care you recieved, is their anything I can do for you right now, how about some high speed lead therapy?" - A qoute from my wife's nursing forum

    "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." – Thomas Jefferson

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