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Inside Bank Of England Gold Vault
The bank of englands gold vaults hold 194bn worth of gold bars.
Bank of england gold bar. A fifth of the worlds gold is hidden under london worth an estimated 172 billion 248 billion. The vaults under the bank of england on threadneedle street are said to hold 5134 tonnes of gold. Youll learn why people started to use paper money and how we make our notes difficult to copy. The bank of englands gold vaults hold 194bn worth of gold bars.
If you stacked them all on top of each other they would be the same height as 46 eiffel towers. No no this is gold 7kg or 16lbs my hand can hold bank of. The figure may have been higher. All that glitters is not gold from young this i have been told but what is this in my hand.
A troy ounce is a traditional unit of weight used for precious metals. Bank of england charges for its gold storage 35 pence per bar per night. You can pick up a gold bar and discover why our building is on top of one the worlds largest stores of gold. The bank of england gold vaults are located on 2 underground levels beneath the banks headquarters in the city of london.
The gold bars in these vaults support the london gold clearing system and provide the gold supply for the london gold. Both of these are on display in our museum. The bank claims to store over 400000 good delivery bars in its vaults. That makes the bank of england the second largest keeper of gold in the world the new york federal reserve tops the list.
Our gold vaults hold around 400000 bars of gold worth over 100 billion. In the past you could exchange banknotes for the equivalent value in gold at the bank of england but this has not been possible since the early 1930s. Just a yellow piece of hardened sand. 280 tonnes of the nations gold was transported from the bank of england in london up to martins bank in liverpool ready to be shipped to canada.
You can however hold a real gold bar in the bank of england museum. By the end of the war in 1945 britain was estimated to have reserves in excess of 177294 tonnes however with incomplete records. It is different in weight to an ounce with one troy ounce being equal to 10971428 ounces avoirdupois. If you stacked them all on top of each other they would be the same height as 46 eiffel towers.
Instead we store the uk. In may 1940 under order of the uk government. We only own two gold bars. Visit the bank of england museum.
