In 1936 the Treasury Department began construction of the U.S. Bullion Depository adjacent to Fort Knox on land deeded from the military. The 'Gold Vault' was completed in December 1936 at a cost of $560,000 and the first gold shipments were made from January to July 1937. The majority of the country's gold reserves were gradually shipped to the site.
The transfer needed 500 rail cars and was sent by registered mail, protected by the Postal Inspection Service.
During World War II the depository also held the reserves of a number of European countries as well as the British crown jewels, the Magna Carta and key documents from American history.
Gold holdings peaked in the war at 649.6 million ounces (20,205 t). Current holdings are around 147 million ounces (4,572 t) in around 368,000 standard 400 troy ounce (12.4 kg or 27.4 standard pounds) bars. The depository also holds monetary gold.
The gold vault is lined with granite walls and is protected by a door that weighs 24.6 tons. No one person is entrusted with the combination to the vault. Various members of the Depository staff must dial separate combinations known only to them. A nearby Army post provides additional protection.
The popular 1959 Ian Fleming-written James Bond novel Goldfinger, and the 1964 movie of the same name, are about a criminal plot to either steal or destroy the gold contained in the U.S. Bullion Depository at Fort Knox.
External links
