In the depths of the south of Manhattan, just two blocks from Wall Streetis hidden the largest gold reserve in the world. He Federal Reserve Bank of NY houses more than half a million gold barsdistributed in piles that reach up to three meters high. This impressive golden collection is kept in an underground vault, located approximately 25 meters below Liberty Street.
Although many may think that all of America’s gold is stored at Fort Knox, The New York Federal Reserve custody around the 25% of world gold reserves. Each ingot, weighing approximately 12 kiloshas a value that is around 500 thousand dollarsadding together an estimated value close to the 250 billion dollars. This gold belongs mostly to central banks, foreign governments and international organizations such as the International Monetary Fund (IMF), not so to the Federal Reserve Bank itself.
The vault of gold of the Federal Reserve was designed in 1920 and was built between 1921 and 1924.
It is equipped with exceptional security measures, among which stands out a 90 ton steel cylindrical entrance, which aligns with a 140 ton steel and concrete frame to form a watertight seal. To access the vault and move the ingots, you need three security devices: one for each lock combination and a third that holds the key to a small padlock.
The gold is transported to the vault using an elevator that goes down from street level to the basement where it is located. Once inside, the ingots are verified and stored in one of the 118 numbered compartmentsinsured with combination locks and audit seals.
The compartments are designed so that Each client has their exclusive space, which maintains the confidentiality of the accountsHowever, guided tours are available, allowing the public to learn about its existence and understand the Federal Reserve’s role in the global economy.
Throughout its history, most of the gold in the vault came during and after the Second World War, when many countries chose to store their reserves in a safe place. At its peak, in the 1960s, the vault contained more than 12 thousand tons of gold. Although activity has decreased over time, the vault remains the largest known deposit of monetary gold in the world, with approximately 507,000 bars in 2024.
Countries with the largest gold reserves:
- USA: 8,134 tons.
- Germany: 3,364 tonnes.
- Italy: 2,452 tons.
- France: 2,436 tons.
- Russia: 2,299 tons.
- China: 1,948 tons.
- Switzerland: 1,040 tons.
- Japan: 765 tons.
- India: 642 tons.
- Netherlands: 612 tons.
Bullion not only represents a measure of financial security but also a physical one. The idea of concentrating so much gold in one place facilitates transfers between countries, which are carried out by moving the bullion from one compartment to another. Each movement of a bullion costs approximately $1.75. However, storing gold in the vault comes at no additional cost.
In terms of security, the vault’s design is extremely robust. The walls are made of reinforced concrete and access is protected by a 90-tonne steel cylinder. In addition, The facility has a 24-hour surveillance and security system, which includes monitoring by cameras and motion sensors.
The Federal Reserve Bank of New York does not allow private individuals or private sector entities store gold in the vault. The stored gold is held exclusively by governments and international organizations. Thanks to all these measures, the vault has maintained an impeccable reputation for security and trust, considered invulnerable to any attempted theft.
