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Every heard this figure about gold?

FrankcasFrankcas Posts: 118
in Precious Metals
Have you every heard? Every ounce of Gold every mined, since the start of history, could fit into two Olympic sized swimming pools. I've heard this a few times, and I personally felt there was more gold than that. Anyone know where this statement originated from?

Comments

  • CiccioCiccio Posts: 1,405 ✭
    There was a similar discussion a while ago. Click here.

    Pmcollectour said: "In all of history, only 161,000 tons of gold have been mined, barely enough to fill two Olympic-size swimming pools."
    Maybe he knows where he found that data.
  • FrankcasFrankcas Posts: 118


    << <i>There was a similar discussion a while ago. Click here.

    Pmcollectour said: "In all of history, only 161,000 tons of gold have been mined, barely enough to fill two Olympic-size swimming pools."
    Maybe he knows where he found that data. >>



    Interesting thread, thanks for sharing it. If that statement is true, gold is very rare given the size of the earth.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    There are a number of analysts who have done research back thousands of years to determine approx qty of gold mined. The records in the past several hundred years are much more accurate. In any event, that's the number and certainly seems reasonable considering central banks only claim to own about 20% of the total.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • gecko109gecko109 Posts: 8,231 ✭
    You also need to remember that a cube of solid gold 14 inches on each side weighs 2,000 pounds! So not much space is needed to store 161,000 tons.
  • dbcoindbcoin Posts: 2,200 ✭✭
    I heard a guy on CNBC say yesterday "3 Olympic size pools". 2...3, still makes for a good metaphor
  • VikingDudeVikingDude Posts: 1,342 ✭✭✭


    << <i>Pmcollectour said: "In all of history, only 161,000 tons of gold have been mined, barely enough to fill two Olympic-size swimming pools."
    Maybe he knows where he found that data. >>



    It was in a National Geographic article from January 2009 (it's actually in the bathroom at work).
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    then one would need to add all the tungsten bars.......j/k
    image
  • morgantypemorgantype Posts: 456
    I also read it in national geographic as well (allbeit not on the pooped though) I would say that national geographic is a pretty credible source.
    Many buy and sell transactions. Let's talk!
  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭
    Everybody knows that the standard unit of measurement in the United States is football fields, not olympic-sized swimming pools!

    How deep would that gold cover one football field (American, not Canadien)?????

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • calleochocalleocho Posts: 1,569 ✭✭
    If we were to pay our debt to the Chinese in 100$ bills i wonder how many pools can we fill?
    "Women should be obscene and not heard. "
    Groucho Marx
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>Everybody knows that the standard unit of measurement in the United States is football fields, not olympic-sized swimming pools!

    How deep would that gold cover one football field (American, not Canadien)?????

    TD >>




    Let me take a shot. Someone check my math please.


    Football field is 360ft x 160ft.

    Thats 4,320in x 1920in.

    Thats 10,973cm x 4877cm.

    Thats an area of 53.5 million cm2.

    We know that a cubic cm of gold weighs 19.3 grams.

    So if a football field of area 53.5 million cm2 is 1 cm deep, then we take 53.5 mil x 19.3g which gives us about 1 billion grams.

    With 31.103g in a troy oz, we find that those 1 billion grams = 33.2 million troy oz.

    With an estimated 4.5 billion troy oz of gold ever mined, we take that number and divide by 33.2 million and get 135cm deep.

    135cm is about 4.4 feet deep.

    So if my numbers and math are correct, all the gold ever mined in mankind's history would cover 1 American football field to a depth of just under 4 1/2 feet.
  • gecko109gecko109 Posts: 8,231 ✭
    Now for the Olympic swimming pool calcs:

    Size is 82ft wide x 164ft long x 6ft 7" deep.

    Interestingly enough those numbers translate perfectly to metric at:

    2500cm wide x 5000cm long x 200cm deep.

    That gives us precisely 2.5 billion cm3.

    At 19.3 grams per, we get about 48 billion grams of gold, or 1.55 billion troy oz.

    3 of these pools = about 4.65 billion troy oz of gold.


    The anaolgy is correct as far as I can see.
  • fastrudyfastrudy Posts: 2,096 ✭
    All the Platinum ever mined would only fill that football field to a depth of one inch!!
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    All the Platinum ever mined would only fill that football field to a depth of one inch!!

    Basically, it's too rare to have ever become a useful monetary standard. That's why central banks have 866 MILL oz of gold. And as far as I know, no ounces of platinum.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭


    << <i>

    << <i>Everybody knows that the standard unit of measurement in the United States is football fields, not olympic-sized swimming pools!

    How deep would that gold cover one football field (American, not Canadien)?????

    TD >>




    Let me take a shot. Someone check my math please.


    Football field is 360ft x 160ft.

    Thats 4,320in x 1920in.

    Thats 10,973cm x 4877cm.

    Thats an area of 53.5 million cm2.

    We know that a cubic cm of gold weighs 19.3 grams.

    So if a football field of area 53.5 million cm2 is 1 cm deep, then we take 53.5 mil x 19.3g which gives us about 1 billion grams.

    With 31.103g in a troy oz, we find that those 1 billion grams = 33.2 million troy oz.

    With an estimated 4.5 billion troy oz of gold ever mined, we take that number and divide by 33.2 million and get 135cm deep.

    135cm is about 4.4 feet deep.

    So if my numbers and math are correct, all the gold ever mined in mankind's history would cover 1 American football field to a depth of just under 4 1/2 feet. >>



    Great!
    Now I've got another one. If a train leaves Pittsburgh at 3:30 PM going Westbound at 65 MPH.........

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>All the Platinum ever mined would only fill that football field to a depth of one inch!!

    Basically, it's too rare to have ever become a useful monetary standard. That's why central banks have 866 MILL oz of gold. And as far as I know, no ounces of platinum.

    roadrunner >>



    Gold has been revered and cherished as a precious metal since before recorded history while platinum has only been considered a precious metal for less than 150 years. Also, gold has always been traditionally and historically used as money which is not the case with platinum with a few exceptions.

    Worry is the interest you pay on a debt you may not owe.
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    "Everything you say should be true, but not everything true should be said."----Voltaire

  • trozautrozau Posts: 3,455 ✭✭✭
    I love platinum for jewelry. It is such a low-keyed luxury never given a second glance nor much attention that gold gets. image
    trozau (troy ounce gold)
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>I love platinum for jewelry. It is such a low-keyed luxury never given a second glance nor much attention that gold gets. image >>



    It's never given a second glance since it looks like silver.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭


    << <i>

    << <i>I love platinum for jewelry. It is such a low-keyed luxury never given a second glance nor much attention that gold gets. image >>



    It's never given a second glance since it looks like silver. >>



    I agree. The allure must be in the weight.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    This is a very interesting thread, I enjoy learning tidbits on things.
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  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>I love platinum for jewelry. It is such a low-keyed luxury never given a second glance nor much attention that gold gets. image >>



    It's never given a second glance since it looks like silver. >>



    I agree. The allure must be in the weight. >>



    Actually, silver has better luster but it can tarnish which platinum doesn't do.


    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • trozautrozau Posts: 3,455 ✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>I love platinum for jewelry. It is such a low-keyed luxury never given a second glance nor much attention that gold gets. image >>



    It's never given a second glance since it looks like silver. >>



    I agree. The allure must be in the weight. >>



    Actually, silver has better luster but it can tarnish which platinum doesn't do. >>


    That is the point. image Looks like silver but is heavier and does not tarnish and more expensive than gold.
    trozau (troy ounce gold)
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