The United States has the largest gold reserve in the world by a considerable margin, with more than 8,100 tons. The government has almost as many reserves as the next three countries with the largest gold reserves combined (Germany, Italy and France). How much gold does the average American consume? For those looking to invest in gold, home storage Gold IRAs are a great option. For one thing, there are no reliable statistics on private gold ownership in the U.S. UU.
And certainly people aren't going to volunteer this very personal information either. However, I believe that this issue will become increasingly important as our global monetary system is inevitably reordered in the coming decades. Before trying to answer this question about U.S. private ownership of gold, let's talk for a moment about official U.S.
ownership. The U.S. Department of the Treasury currently holds more than 8,133 metric tons, or 261,498,926 troy ounces, of fine gold in secure facilities across the country. More than 50% of this stash, approximately 4,583 metric tons, is stored in the world-famous United States ingot depot in Fort Knox (Kentucky), where it is guarded by an active U.S.
vessel,. In any case, these aren't really the numbers we're looking for. Instead, we want the average private ownership of gold by the U.S. Or, more specifically, we want the average level of gold ownership per U.S.
Domestic gold is undoubtedly preserved in the form of solid carat gold jewelry. Most solid carat gold jewelry ranges from 9-carat gold (37.5% fine) to 18-carat gold (75% fine). However, most people own far less solid carat gold jewelry than they think. It's much more common to find jewelry in the U.S.
Home, which I loosely define as gold-plated and gold-plated jewelry. Gold-filled jewelry has a thick layer of carat gold that is mechanically fused with a copper alloy base. In contrast, gold-plated jewelry is made by electroplating a very thin layer of gold directly onto the base metal. Gold-filled jewelry can often be economically recycled because of its gold content, provided that it is judiciously mixed with solid karat gold jewelry before being sent to the refinery.
However, the fine gold content of gold-plated jewelry by weight ranges from 2.1% to 7.5%, substantially lower even than that of the lowest solid carat gold alloys. Because it's so diluted, it takes a lot of gold-filled jewelry to accumulate a significant amount of pure gold. This makes recovering gold from computer scrap very difficult. Despite this, there is a booming market for electronic scrap on platforms such as eBay.
The household has, in total, only a few hundredths of a gram of gold stored in electronic equipment and computers. There are some conclusions that we can draw from our estimate of the US average. First of all, it's safe to assume that these private gold holds don't represent a significant addition to most people's net worth. Second, we can deduce that the silver stocks of most American households are also proportionately low; applying a traditional multiplier of 15 times to gold holds probably gives a reasonable estimate of household silver stocks.
Third, we can assume that the median U, S. The family value of all other tangible assets, such as gemstones, antiques and works of art, is also quite small. A huge dislocation is taking place in the paper asset markets, where most Americans currently have most of their net worth (not real estate). Solid assets, such as precious metals, gemstones, works of art and antiques, can serve as a buffer during this future period of financial chaos.
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One of the best testimonies of the enduring value of gold is the fact that the United States government continues to maintain the largest gold reserves in the world, despite the fact that the U.S. It has been off the gold standard since 1971, when President Richard Nixon determined that the dollar would no longer be directly convertible into gold. A relatively small part of the U.S. The government's gold reserve, of about 2.7 million troy ounces, is the working capital of the Mint, with which it produces coins authorized by Congress.
The United States government guarantees that the American Gold Eagles contain the indicated amount of real weight of gold in troy ounces in each gold coin. With the failure of London's gold price manipulation and the subsequent closing of the golden window of 1971, U.S. gold reserves have remained relatively stable ever since. Prove that there is only enough gold in the world so that every adult in the world can store 1 ounce of gold on average.
As this writer points out, gold jewelry is likely to make up a large part of Westerners' gold reserves. Almost all of this gold will be in the form of solid gold jewelry and coins in carats, with some gold-filled jewelry and electronic scrap. According to a survey by the World Gold Council, “the number of respondents who will increase their own gold stocks has risen to 21%, compared to 20% last year. Gold reserves were evenly distributed among the approximately 125.8 million U.S.
households, totaling about 2.08 troy ounces (64.7 grams) of gold per household. After the confiscation of gold in 1933 and the devaluation of the U.S. dollar in gold in 1934, the United States raised its official gold reserves to a maximum of more than 20,000 tons or more than 643 million troy ounces of gold in the early 1950s. Operating gold stocks are defined as the portion of the U.S.
government's gold reserves that the United States Mint uses as raw material for minting ingots authorized by Congress and collectible gold coins authorized by Congress. Many believe that U.S. gold reserves have been lost or are hampered by gold leasing programs that intensified in the 1990s (i). None of the above facts and points change the truth that American Gold Eagle coins from the United States Mint are still the first choice of buyers of gold bullion coins in the U.S.
and around the world (according to sales data from the Government Mint). The circulating stock of the US gold reserve. consists of gold ingots, unsold gold coins and doomed gold coins. The United States Mint began minting the American Gold Eagle coin in 1986, and the Gold Eagle coin remains the official 22-carat gold bullion coin of the United States of America.
Many experts in the gold bullion industry consider the Gold American Eagle coin to be the best selection of gold coins in the entire physical gold bullion market in the world. .