The secret of Fort Knox

Fort Knox has an almost mythical status when it comes to gold storage. In this article, we take a look at the history of Fort Knox and where this special status comes from.

What is Fort Knox?

Fort Knox is a military base covering no less than 441 km², located in the town of the same name, just north of Elizabethtown in the U.S. state of Kentucky. This base is best known for the United States Bullion Depository, where gold is stored.

However, the history of the site extends beyond its role as a gold vault. Established in 1930, it served as a central storage facility not only for gold but also for safeguarding confidential documents during World War II. Today, it also houses a tank museum: the General George Patton Museum.

Gold reserves

Today, its most important function is undoubtedly gold storage. For security reasons, unlike the museum, the Fort Knox gold vault is not open to visitors. The security measures are extremely strict, as Fort Knox holds a vast quantity of gold.

According to the United States Mint, there are currently 147.3 million ounces of gold stored at Fort Knox, which would represent roughly half of the U.S. national reserves. The secrecy and strict measures surrounding Fort Knox’s gold storage are partly what fuel ongoing controversy.

Few visits

Since its establishment in 1930, there have been only a handful of official visits. In 1974, a group of journalists and a delegation from the U.S. Congress were granted access, following earlier inspections by President Franklin D. Roosevelt.

It wasn’t until 2017 that another official visit took place, when the then U.S. Secretary of the Treasury and several other dignitaries were given access. These rare visits and the limited information available about Fort Knox continue to spark debate over its gold holdings.

Gold or no gold in Fort Knox?

Representatives of the U.S. Mint insist that there is gold in Fort Knox. While this seems plausible, the level of secrecy remains puzzling—especially considering the sizeable U.S. national debt.

One could argue that additional images or footage might pose a security risk, but given the extremely strict security, that seems unlikely. The debate and controversy surrounding Fort Knox are therefore likely to continue.

Record gold prices

Even assuming that 147 million ounces of gold are indeed stored in Fort Knox, the gold price in recent years has reached record highs. Geopolitical and economic uncertainty continues to drive investors toward gold as a safe haven to protect their wealth.

Want to start building your own gold reserve? Explore our wide range of gold bars and investment gold coins. Most items are available for fast delivery from stock. And if you prefer not to store gold yourself—with all the secrecy and responsibility it entails—we can securely store it for you in our own “Fort Knox,” in cooperation with Edelmetaal Beheer Nederland.

Disclaimer: The Silver Mountain does not provide investment advice and this article should not be considered as such. Past performance is no guarantee of future results.