CELLAR FULL OF GOLD (Mar, 1957)

You know what happens when you let information like this out? Die Hard 3. That’s what happens.

CELLAR FULL OF GOLD

Only Fort Knox has more bullion than the vault under 33 Liberty Street.
THE TALE of the yardbird who kept moving a pile of bricks back and forth endlessly is acted out with international significance in the solid rock cellar of the Second District Federal Reserve Bank in New York, where six and a half tons of gold worth $8,000,000,000 are kept to back up currencies of 60 foreign countries and the International Bank. In this man-made mine, stackers have to move the stuff brick by brick from one triple-locked cell to another as one nation’s balance drops, another’s goes up. •

3 comments
  1. Rick Auricchio says: September 6, 20138:13 am

    In the mid-70s, I worked at a software-contracting firm that set up and supported the money-transfer message switching system the FED used. Never took the time to take the tour of the gold vault.

    The building has windows on all floors, but the computer room floor had no windows. As it turns out, they simply built a room within the floor, walls and all. We found a place we could sneak through a door in the metal wall and peer through dirty windows to the street.

  2. Rick Auricchio says: September 6, 20137:09 pm

    A 27-pound gold bar, shown at USD$14,000 in the 1957 article, is worth almost USD$550,000 today. About a 3900% increase.

  3. Toronto says: September 6, 20138:21 pm

    When my family and I visited NYC this past spring, we stayed at the Holiday Inn right across Nassau Street from the Fed. Nice neighborhood, close to subways, food carts, etc. (My son and I even went to Shopsin’s and failed to make a dent in the menu.)

Submit comment

You must be logged in to post a comment.