How Much Is Fort Knox Worth? Calculating the Value
Understand how Fort Knox's true value is determined, examining its contents and the various calculation methods.
Fort Knox, officially known as the United States Bullion Depository, is a prominent symbol of wealth and impenetrable security. This highly fortified vault, located adjacent to the U.S. Army post in Kentucky, is often associated with vast quantities of precious metals. Public curiosity about its contents and worth is widespread. Understanding its true value requires looking beyond popular myths and focusing on official records and financial metrics.
Gold Holdings
The primary asset stored at Fort Knox is a substantial portion of the U.S. Treasury’s gold reserves. According to official figures, the United States Bullion Depository holds approximately 147.3 million troy ounces of gold. This considerable quantity represents about half of the total gold reserves held by the U.S. Treasury.
The gold is primarily in the form of standard gold bars, each typically weighing around 400 troy ounces, equivalent to approximately 27.5 pounds. The gold at Fort Knox is held in deep storage, meaning it is secured in sealed vaults and is routinely examined during annual audits by the Treasury Department’s Office of the Inspector General.
While some small quantities have been removed for purity testing during these audits, no significant transfers of gold to or from the depository have occurred for many years. This consistent holding underscores the facility’s role as a long-term, secure repository for the nation’s precious metal assets.
Calculating the Gold’s Value
Determining the “worth” of the gold held at Fort Knox involves two distinct valuation methods: the official book value and the fluctuating market value. The official book value, used for accounting purposes by the U.S. Treasury, is set by law and does not change with market fluctuations. This statutory price has been fixed at $42.2222 per troy ounce since 1973. Based on the 147.3 million troy ounces stored, the official book value of the gold at Fort Knox is approximately $6,218,655,060, or about $6.22 billion.
The market value, however, presents a significantly different picture, reflecting what the gold would be worth if sold on the open market today. As of August 25, 2025, the market price of gold has been fluctuating around $3,370 to $3,385 per troy ounce. Using an approximate market price of $3,384.90 per troy ounce, the total market value of the 147.3 million ounces of gold at Fort Knox would be approximately $498,565,770,000, or roughly $498.57 billion. This substantial difference highlights that the official book value serves as an internal accounting standard rather than a reflection of the gold’s current economic value. The U.S. Treasury maintains this statutory price for consistency in its financial statements, as the gold is held as a strategic asset and not intended for regular trading or liquidation.
Beyond Gold: Other Assets and the Facility
While Fort Knox is overwhelmingly associated with gold, public perception often includes speculation about other valuable items stored within its vaults. Historically, the facility has temporarily housed significant artifacts, such as the original U.S. Constitution, the Declaration of Independence, and the Magna Carta during World War II for safekeeping. The Holy Crown of Hungary was also stored there for a period. However, these items were later returned to their original locations, clarifying that Fort Knox is not a permanent repository for diverse national treasures or historical documents.
The physical facility itself, built in 1936, is constructed with massive amounts of granite, concrete, and steel. Its value lies in its unparalleled security and its strategic role as a secure storage site for the nation’s gold reserves, rather than as a real estate asset with a market value for sale.