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The Treasury began construction of the United States Bullion Depository in 1936 on land transferred to it from the military. The Gold Vault was completed in December of that year for $560,000 (equivalent to $9,700,000 in 2023). [4] [6]
The West Point Mint is a U.S. Mint production and depository facility erected in 1937 near the U.S. Military Academy in West Point, New York, United States.As of 2019 the mint holds 22% of the United States' gold reserves, or approximately 54,000,000 troy ounces (1,700,000 kg) [2] (over $100 billion USD as of 2021).
The American Silver Eagle is a United States bullion coin that has been minted since 1986. Each coin is .999 fine silver. Circulating coins have been minted at the Philadelphia Mint, San Francisco Mint, and West Point Mint, though do not bear a mint mark. Proof and uncirculated coins do have mint marks. The reverse design was changed in 2021.
The United States Bullion Depository, often known as Fort Knox, is a fortified vault building adjacent to the Fort Knox Army Post. It is operated by the United States Department of the Treasury, and stores over half the country's gold reserves. It is protected by the United States Mint Police, and is well known for its physical security.
Under United States law, coins that do not meet the legal tender requirement cannot be marketed as "coins". Instead, they must be advertised as rounds. [3] Bullion coins are typically available in various weights, usually multiples or fractions of 1 troy ounce, but some bullion coins are produced in very limited quantities in kilograms or heavier.
The first commemorative coin of the United States made specifically as a circulation issue was the 1921 Peace dollar. The coin was originally intended to be produced for one year to commemorate the end of World War I , although the design proved popular and continued to be produced until silver dollar production ended in 1935.
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The two intentionally spared coins are in the U.S. National Numismatic Collection, ten others are held in the United States Bullion Depository at Fort Knox, and the one remaining recovered coin was sold in 2002 to private collector Stuart Weitzman [3] (who remained anonymous at the time) for US$7.59 million (equivalent to $12.2 million as of ...
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