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Fort Knox | Gold Bullion Depository & Asset of the United States

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Fun Facts About Fort Knox

  • On June 28th, 1935, President Franklin Delano Roosevelt authorized construction of the federal bullion depository at Fort Knox, Kentucky.
  • Amount of present gold holdings: 147.3 million ounces.
  • The only gold removed has been very small quantities used to test the purity of gold during regularly scheduled audits. Except for these samples, no gold has been transferred to or from the Depository for many years.
  • The gold is held as an asset of the United States at book value of $42.22 per ounce.
  • The Depository opened in 1937; the first gold was moved to the depository in January that year.
  • Highest gold holdings this century: 649.6 million ounces (December 31, 1941).
  • Size of a standard gold bar: 7 inches x 3 and 5/8 inches x 1 and 3/4 inches.
  • Weight of a standard gold bar: approximately 400 ounces or 27.5 pounds.
  • Construction of the depository:
    Building materials used included 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel, and 670 tons of structural steel.
    The cost of construction was $560,000 and the building was completed in December 1936.
  • In the past, the Depository has stored the Declaration of Independence, the U.S. Constitution, the Articles of Confederation, Lincoln’s Gettysburg address, three volumes of the Gutenberg Bible, and Lincoln’s second inaugural address.
  • In addition to gold bullion, the Mint has stored valuable items for other government agencies. The Magna Carta was once stored there. The crown, sword, scepter, orb, and cape of St. Stephen, King of Hungary also were stored at the Depository, before being returned to the government of Hungary in 1978.
  • The Depository is a classified facility. No visitors are permitted, and no exceptions are made.
  • For other Coinologist U.S. Mint posts click here!

Written by Robert L. Wilson

October 27, 2011 at 8:35 am

Gold Transfer | Uncle Sam Style

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As Uncle Sam prepares to move his gold from the Philadelphia mint to his new safe in Fort Knox, KY. , Jan 11, 1937.  Edwin H. Dressel, Superintendent of the Philadelphia Mint, and Mrs. Nellie Taylor Ross, Director of the Bureau of Mints confer preparatory to supervising the transferring the gold in the Philadelphia Mint to Fort Knox, Ky., where all the gold reserve of the United States will be accumulated.  Check out other Coinologist archive photo posts here.

Source:  Library of Congress

Written by Robert L. Wilson

August 30, 2011 at 8:00 am

Fort Knox, U.S. Gold Bullion Depository

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This three-part series of the U.S. Gold Bullion Depository at Fort Knox is a must see.  These videos are a rare look into this famous fortress.  I urge you to take the time to indulge yourself!

Part 1/3

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