If you didn't learn about Fort Knox in history class, you may be aware of it from the James Bond movie Goldfinger. Have you ever wondered what Fort Knox is really like and how much gold the U.S. holds there?
Fort Knox is one of the most secret and secure places in the United States. Few people get to go inside, so it's a popular subject for speculation.
The facility doesn't allow visitors, so it's impossible to know exactly how much gold there is at Fort Knox. Whether you're a gold investor or just curious about this bullion bunker in Kentucky, Fort Knox gold is a fascinating subject.
Here's a closer look at Fort Knox and its mysterious gold supply.
What Is Fort Knox?
Fort Knox is a highly secret U.S. Army base. It's surrounded by steel fences, security, and alarms. The roof is bomb-proof, and Apache attack helicopters guard the facility.
The building is made of concrete and granite and reinforced with steel for protection from potential attacks. The gold vault within Fort Knox was built in 1935 to protect U.S. gold during a turbulent time.
The location is ideal for its military support and location behind the mountains, which helps protect the facility from military attacks. In 1937, the gold arrived on a nine-car train protected by the 7th U.S. Calvary Brigade.
It Holds Tons of Gold
Fort Knox houses approximately 147 million ounces of gold. It has an estimated value of around $273 billion, according to the U.S. government.
Many people question whether this is true and if Fort Knox contains any gold at all. This speculation is driven by the secrecy of the government and all the Fort Knox stories over the last two decades.
All the speculation about Fort Knox gold increases the air of mystery that surrounds the most-protected gold vault in the world.
Is the Gold Really There?
Investing in gold is at an all-time high. People want to know about the U.S. gold stash and if Fort Knox really stores tons of gold.
Some conspiracy theorists suggest that the U.S. government sold all the gold and all that remains are tungsten bricks that are painted to look like real gold. There's no real way for outsiders to know if the gold still exists.
Although there have been audits over the years, the average citizen isn't privy to this information. Some believe the amount of gold stored at Fort Knox is exaggerated, while others believe the government has sold off all the gold.
Can You Get Inside Fort Knox?
If you're interested in gold sites, Fort Knox may be at the top of your list. Unfortunately, it's closed to the public.
Official visits to this location are few and far between. President Franklin Roosevelt was the only president to visit the nation's secret vault.
In 2017, Secretary Steven Mnuchin visited Fort Knox as the first Treasury Secretary to visit the gold vault in 69 years.
What Happens to the Gold?
The gold at Fort Knox isn't sitting around collecting dust. Instead, the U.S. government is constantly shifting and moving gold around for various purposes.
The government loans gold to other countries. England and Switzerland are in possession of U.S. gold.
Sometimes countries return the gold after a few years, and sometimes they don't. The U.S. uses some of the gold to make coins.
The government uses gold from Fort Knox to make American Eagle Gold Coins. They sell these coins at a spot price plus a premium.
The government benefits from this and isn't required to pay back loans with the profit.
What If There's No Gold at Fort Knox?
Gold investment is popular with many American investors. If the government revealed there was no gold left at Fort Knox, it would affect the economy.
Although the U.S. dollar isn't backed by gold anymore, people want to believe the U.S. is rich in gold reserves. If they lose this belief, they could also lose faith in the government.
This could lead to a loss in the dollar's value and higher inflation. The stock market could take a hit as well.
There's the potential for an economic crisis. If this occurred, the price of gold would increase considerably.
What Can You Do If You Aren't Sure About Fort Knox?
The secrecy regarding Fort Knox and its gold reserves is troubling for some people interested in gold investment and long-term security. It's only natural to be skeptical about the mysteries surrounding Fort Knox.
If you share this concern, it's wise to diversify your investments.
Consider tangible and concrete assets that:
- Don't depreciate over time
- Aren't controlled by the U.S. government
- Won't fade because of speculation or inflation
Investing in Gold
If you've been considering types of gold and the best ways to invest, now is a good time to start. You can begin by purchasing physical metals, mining company stocks, or an ETF that specializes in these types of metals.
Purchasing gold coins or bullion can help protect your wealth and hedge against inflation. Precious metals aren't subject to market fluctuations.
You can sell them quickly if you want to cash in on your investment. Another popular option is a precious metal IRA. This is great for long-term benefits as well as short-term tax benefits.
Although there are risks with investing exclusively in precious metals, they're an excellent option for diversifying your portfolio and protecting your wealth.
Fort Knox Gold
If you're interested in gold, Fort Knox is a fascinating subject. Although the government offers estimates of the gold stored there, many people doubt whether it's true.
It's fun to speculate but impossible to know the truth about Fort Knox gold. The best tip is to invest for the long term, diversify your portfolio, and invest in gold.
The U.S. Gold Bureau always strives to help our customers make "the right investment in metals the first time." We're ready to assist you and provide a pleasant and discreet purchasing experience.
You can begin by creating a new customer account with U.S. Gold Bureau today.