There’s $183 Billion Worth of Gold Sitting in the Hudson Valley Right Now

Did you know there's a federal facility right here in the Hudson Valley that's holding more than $183 billion worth of gold?

I was watching television the other night when one of those commercials for commemorative American Eagle coins came on. As the announcer rattled off the details, one line caught my attention: the coins were minted in the Hudson Valley.

It turns out one of the country's most important minting facilities has been quietly operating in the Hudson Valley for decades, producing some of America's most valuable coins while safeguarding one of the nation's largest gold reserves.

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The Hudson Valley's Hidden Treasure

The United States Mint at West Point sits just outside the gates of the U.S. Military Academy. While it doesn't get nearly as much attention as Fort Knox, it's actually one of the most important facilities in the country's precious metals system.

Today, the vaults at West Point hold more than 54 million troy ounces of gold. At current market prices, that's worth more than $183 billion, making it the second-largest government gold repository in the United States behind Fort Knox. Roughly one-fifth of America's gold reserves are stored right here in the Hudson Valley.

History of the West Point Mint

The building was completed in 1938 as the West Point Bullion Depository. Its original job wasn't making coins at all. It was built to store silver bullion, and during World War II it even loaned silver to support the war effort and American industry.

As demand for coin production grew, the facility took on new responsibilities. Between 1973 and 1986, West Point quietly produced Lincoln pennies to help other U.S. Mint facilities keep up with demand. It also struck Bicentennial quarters in 1976, although those coins didn't carry the familiar "W" mint mark collectors know today.

It officially became the West Point Mint in 1988.

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What's Produced at the West Point Mint Today?

These days, West Point specializes in some of the Mint's most valuable products.

If you've seen American Eagle gold, silver or platinum coins advertised on television, there's a good chance they came from West Point. The facility also produces American Buffalo gold coins, commemorative coins authorized by Congress and America's palladium bullion coins.

Collectors can usually identify coins made there by the distinctive "W" mint mark. In recent years, the Mint even surprised the public by releasing millions of ordinary quarters with a "W" mint mark into circulation, making them instant collectibles.

Did you know there was a U.S. mint right here in the Hudson Valley?