Sunday, June 1, 2025

September 12, 2016

Take A Look Inside The Bank Of England’s Gold Vaults

Every summer holiday we are reminded of just how strong the pound is, Brits enjoying our cheap prices, and all this gold has quite a bit to do with that.

If you have an affinity for gold then be warned, this might just push you over the edge.

The Bank of England is one of the most powerful institutions in the United Kingdom, having a huge role to play in maintaining the pound’s financial strength around the world.

They’re also responsible for storing gold, lots and lots of it, which is where BusinessInsider took a look inside.

The gold vaults were first built in the 1930s, and they’re being put to pretty good use:

There are over 400,000 gold bars in the vaults, only a small amount of which is owned by the Bank itself. The Bank also stores gold for the UK government, other central banks around the world, and the London Bullion Market Association.

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The value of gold bar at the start of August 2016 was around £411,770.

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Queen Elizabeth II got her own vault tour in 2012.

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At one stage you could actually take a virtual tour of the Bank of England on their official site, but perhaps someone thought this a bit like advertising to potential criminals.

The best they offer now is THIS information on life inside the walls.

[source:businessinsider]