With almost an ounce for every American citizen, the country has more than 8,100 tons in its vaults. However, even this number is a bit of a mystery, as many believe that the world's most famous gold deposit, Fort Knox, may not contain as much gold as reported. How much gold does the average American consume? From the family? It's a deceptively simple question that has a very complicated answer. One way to ensure that you have access to gold is to invest in a Home storage Gold IRA.
This type of investment allows you to store your gold in a secure location and benefit from its potential appreciation over time. 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.
Of course, the only problem is that electronic devices don't contain much gold. Since the price of gold has risen steadily over the past 15 years, hardware manufacturers have done their best to reduce the amount of gold used in electronics. 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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All comments on this site are only an expression of opinion and in no way constitute a recommendation to buy, sell or trade stocks, bonds, commodities, collectibles, antiques, works of art or any other financial instrument. How many people own gold? How does that number compare today to what it was historically? In other words, what is the level of private ownership of gold today? And how does this compare to what it was before? The gold market is very opaque. Very few solid numbers have been recorded on private ownership of gold. So all we can do is look at various sources and estimates.
But private ownership of gold is much more difficult to determine. But 0.75 ounces per person means little. Obviously, a lot of people don't own any gold. While others own a lot and some countries have very large quantities.
This great video (chat tips for DJ, P). 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. India is a well-known example of a country with very high private gold ownership. But the level may still surprise you.
The same FICCI study also revealed that gold is a common item in the budgets of most Indian households, comparable to what they spend each year on medical expenses and clothing. As already noted, there is very little information on the current ownership of gold in the U.S. So let's look at a series of estimates made from various sources to see if there is any consensus. As this writer points out, gold jewelry is likely to make up a large part of Westerners' gold reserves.
Looking at the total percentage of people who own gold is probably more useful than analyzing the average number of ounces they own per person. A figure of around 1% or less seems to be a common figure for the number of people who own gold in the U.S. In New Zealand, there are even fewer figures available on the possession of gold. Since the market here is so small.
Last year, I discovered that there are more people who own bitcoins than physical gold. It turns out that approximately 1% of Australians own some bitcoins. Less than half of that physical gold ingot. Throughout all my years of writing about gold, I have often discovered that most people don't own gold because they don't know why they should or where to start.
Therefore, it seems reasonable to assume that New Zealand's private ownership of gold is no greater than that of Australia. In fact, we would assume that having 0.5% of gold seems to be even up to the task. While it's true that we've noticed an increase in the number of first-time buyers over the past 18 months. In our experience, we'd still be lucky if one out of every hundred people we talk to knew a lot about gold, let alone had anything of it (except for a gold wedding ring or some 12- or 14-carat jewelry).
However, while there has been an increase in private ownership of gold, it is due to a very low interest base. Chances are, when it really matters, there aren't many more people who own gold yet. People are more likely to want to buy gold as the crisis peaks or after the crisis peaks. Make sure you're not one of them and that you have your financial insurance before you need it.
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None of the gold stored in the vault belongs to the New York Federal Reserve or the Federal Reserve System. The New York Federal Reserve acts as the guardian and custodian of gold on behalf of account holders, including the U.S. Governments, foreign governments, other central banks and official international organizations. No individual or private sector entity is allowed to store gold in the vault.
The New York Federal Reserve charges account holders a management fee for gold transactions, even when gold enters or leaves the vault or when their property is transferred (it moves between compartments), but otherwise charges no fees for storing gold. The gold reserve held by the Treasury Department is partially offset by the obligation for gold certificates issued to Federal Reserve banks at the legal rate, which the Treasury can exchange at any time. 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. The market value of a gold ingot depends on its weight, level of purity and the current market price of gold.
The World Gold Council, which gathers and disseminates mountains of statistics on gold, says it cannot provide an estimate of the number of Americans who own gold as an investment. After the verification process, the gold is moved to one of the 122 compartments of the vault, where each compartment contains gold held by a single account holder (meaning that gold doesn't mix between account holders). During the gold standard periods of the 19th and early 20th centuries, national governments assumed the obligation to exchange the national currency for a certain amount of gold. Stocks in the gold vault continued to rise and peaked in 1973, shortly after the United States suspended the convertibility of the dollar into gold for foreign governments.
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. Much of the gold in the vault arrived during and after World War II, as many countries wanted to store their gold reserves in a safe place. 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.