New York Federal Reserve stores world gold reserves
- Published: Apr 1, 2014, 6 AM
Twenty-five percent of the world's gold reserves are held in the Federal Reserve Bank of New York.
In an article in the Spring 2014 issue of the Central States Numismatic Society's journal, The Centinel, writer Jeff Burke explains that "even though Fort Knox [Gold Bullion Depository] and [the] West Point [Mint] hold the lion's share of U.S. gold reserves, no other depository in the world stores as much gold as the New York Fed vault."
Non-U.S. holdings account for about 95 percent of the gold stored at the New York Fed, according to Burke.
The gold is protected by a single entrance that is closed by a 90-ton steel cylinder set in a 140-ton steel and concrete frame.
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