Federal Reserve Bank of New York

The Gold Vault

For many, the New York Fed’s gold vault is perhaps the highlight of the guided tour. This is currently assumed to be the world’s largest gold repository, containing even more gold than is stored at Ft. Knox. Approximately 98 percent of the gold stored is owned by 36 foreign governments, and central banks, while the remainder is the property of the United States and the International Monetary Fund. The bullion is stored in 122 separate compartments in the main and auxiliary vaults. It is largely a relic of an era when the gold standard and gold exchange standard were used to establish the relative values of national currencies, and gold itself was used to meet international payments.

Foreign governments and official international organizations store their gold at the Federal Reserve Bank of New York because of their confidence in its safety, the convenient services the Bank offers, and its location in one of the world’s leading financial capitals.

There are no doors into the gold vault. Entry is through a narrow 10-foot passageway cut in a delicately balanced, nine-foot-tall, 90-ton steel cylinder that revolves vertically in a 140-ton, steel-and-concrete frame. The vault is opened and closed by rotating the cylinder 90 degrees.