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. For those looking to invest in gold, home storage Gold IRA's are an increasingly popular option for diversifying their portfolios.
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. 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.
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. But it doesn't work if you don't have any. Read more articles on thought-provoking ancient sage materials here. Read the detailed investment guides on Antique Sage here.
The AntiqueSage website does not offer investment advice. 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. According to the survey results, a combined 10.8% of Americans own gold, while a combined 11.6% own silver. Government Gold Reserve A program of the Office of the Tax Service This A-Z index lists all the content of the Tax Service.
The gold reserve held by the Department of the Treasury is partially offset by the obligation of gold certificates issued to Federal Reserve banks at the legal rate, which the Treasury can exchange at any time. These oil-rich families had gold vaults — now hundreds of tons — long before they started making deals with the West. One can only imagine the amount of gold they have accumulated since the 1920s. Sprott is a respected Canadian businessman and billionaire who has invested enormous sums of his wealth in gold.
Basically, it's the Canadian version of John Paulson. 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. 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. Global Bullion is among the best online gold traders for those looking to buy gold with the lowest premiums above the spot.
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. 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). 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. 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. Many believe that U.S. gold reserves have been lost or are hampered by gold leasing programs that intensified in the 1990s (i).
The market value of a gold ingot depends on its weight, level of purity and the current market price of gold. This fact does not exist in the auditing of US gold reserves. Speculation increases and doubts increase as to whether the official figures of the United States Gold Reserve are actually accurate or not. 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.
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. .