It is the first time since before 9/11 that the government has exhibited part of its national gold supply, noted U.S. Treasurer Rosie Rios, who pulled the cord opening black curtains to reveal the bars stacked in a triangle in a closet-sized vault.
At current prices, the three bars are worth just over $1.9 million.
Denver Mint plant manager David Croft pointed out that the three bars were shipped in from the U.S. Mint’s working gold supply at West Point and did not come from the gold that is in deep storage in Denver.
What’s the difference?
Working gold is the supply that the Mint acquires to strike gold American Eagles and other gold coins. Deep storage gold is part of the country’s reserves that most people simply call Fort Knox, after the most prominent of the nation’s gold storage sites.
The unveiling occurred before a small group of reporters during the first day of the American Numismatic Association’s National Money Show.