Gold in the United States of America

Thanks to our friends at Gold Eagle for sponsoring this piece.

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Gold in the United States of America

Thanks to our friends at Gold Eagle for sponsoring this piece.

The United States has always had a love affair with the yellow metal. It all started in Stafford, Virginia in 1782, when Thomas Jefferson documented the first gold discovery himself.

Since then, Americans have been searching for gold far and wide. The California Gold Rush brought hundreds of thousands of people to the West in search of new found wealth. Years later, many more ventured into Alaska’s wilderness to hit it rich.

Even today, there is a modern gold rush in Nevada, where the five biggest gold mines (by contained oz) are located. The US produced 8.2% of the world’s gold in 2013, which puts it in third place for annual production.

It’s also no secret that the US also holds the largest reserves of gold today, primarily located in the Fort Knox and Federal Reserve Bank of New York depositories. Between the two locations, a hefty 8,133.5 tonnes of gold are vaulted.

The future is still bright for gold in America: in fact, just three undeveloped deposits in Alaska (Pebble, Donlin, and Livengood) hold a potentially game-changing 180,000,000 oz of gold combined.

While it is true that there have been some hiccups along the way, such as Roosevelt’s confiscation of gold in 1933, it is unlikely that America’s fixation on gold will end any time soon.