German Central Bank Has Sold Over 1.4 Million Ounces of Gold in Ten Years

Deutsche Bundesbank gold reserves shrink 45 tons over the past ten years.

German Central Bank holdings fall From 3,420.6 tons at the end of Q2 2007 to 3375.6 tons at the end of May 2017, a drop of 1,446,783 ounces.

German gold reserves have decreased 1.3% over ten years.

The Lowest Cost. Period.

Buy American Gold Eagle Coins

Bring the Gold Home & Sell Some

Deutsche Bundesbank, the central bank of Germany, has gained a high profile for its insistence on repatriating a good portion of its gold from vaults at the New York Fed, the Bank of England of London and the Bank of France in Paris. We have been covering the German gold repatriation story since they made their request in 2013 here, here, here and here.

The German repatriation requests aimed to rebalance the Deutsche Bundesbank’s gold holdings from nearly 70% held abroad to 50% held within Germany’s borders. The German Central Bank announced earlier this year that it has nearly completed its plan to repatriate its gold.

Jens Weidman, President of the Deutsche Bundesbank once famously said “Indeed, the fact that central banks can create money out of thin air, so to speak, is something that many observers are likely to find surprising and strange, perhaps mystical and dreamlike, too – or even nightmarish.”

In this video from the Deutsche Bundesbank, German nationals, Deutsche Bundesbank representatives and Herr Weidman explain the importance of gold to Germany.

Given the Deutsche Bundesbank’s statements and the accelerated German gold repatriation schedule, we are surprised to see that the Deutsche Bundesbank has been a steady seller of its gold over the past ten years.

Currently, with the People’s Bank of China halting its gold purchases since October 2016, only the Central Banks of Russia, Kazakhstan and recently Turkey are steady buyers of gold.

Update July 9, 2017
– In the companion video to this blog post, I noted that I would contact the Deutsche Bundesbank to determine why they have been steadily selling gold. I received a twitter notice from @BullionBaron with an excerpt from the 2016 DB annual report indicating that DB sold 3,045 kg or 0.1 million oz of gold to the Federal Government at market prices for the purpose of minting gold coins. I reviewed DB annual reports for the period covered by this blog post (2007-2016) and there is a note in each one indicating the sale of gold each year between 100,000 -200,000 ounces for the purpose of minting gold coins.

DB noted in its 2012 annual report: “As part of its management of gold reserves, the Bundesbank has, since 2002, been selling small amounts each year to the Federal Office for Central Services and Unsettled Property Issues to mint gold coins. In 2012, it sold around 4.9 tonnes of gold in total for the minting of the €100 gold coin “UNESCO World Heritage–  Aachen Cathedral” and the €20 gold coin “German forest – spruce”. The sales took place under the extended gold agreement between the central banks of the Eurosystem, Switzerland and Sweden in August 2009.” A similar note appeared in the 2011 DB annual report, indicating a sale of around 4.7 tonnes for the purpose of minting the €100 gold coin “UNESCO World Heritage–  Aachen Cathedral” and the €20 gold coin “German forest – spruce”.

German Gold Reserves 2007 – 2017

German gold reserves 2007 -2017

The Deutsche Bundesbank gold reserves fell 45 tons from June 30 2007 to May 31, 2017.

gold reserves by country - top ten July 2017

The Central Bank of Germany holds the second largest gold reserves of any central bank.

Deutsche Bundesbank Gold Holdings Source: World Gold Council
Central Bank Gold Holdings Source: World Gold Council, Central Bank of the Russian Federation, the National Bank of Kazakhstan and goldchartsrus.

Check out all the Smaulgld podcasts here.

Not a Smaulgld subscriber? Sign up here.

Donate To Smaulgld.com via paypal

You can buy Bitcoin, Ethereum and Litecoin through Coinbase.
Click HERE to open a coin base account and get $10 of free Bitcoin.*

You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:

BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange

Buy American Gold Eagle Coins

Donate To Smaulgld.com via paypal

Please consider making a small donation to Smaulgld.com. Thanks!





Sign Up For Smaulgld.com Updates Here!

Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange

Buy American Silver Eagle Coins
—————————————–

If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.

Please consider making a small (or large!) donation to Smaulgld.com. Thanks!





Get Free Updates From Smaulgld.com

Subscribe to Smaulgld.com and get the free In Case You Missed Itweekly email as well as updates and analysis on gold, silver, real estate and the economy.

Also get the free report “Twelve Key Differences Between Gold and Silver” when you subscribe.






Subscribe to Smaulgld.com to receive free gold and silver updates, news and analysis.

Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.


You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the BGASC, Money Metals Exchange, Gold Broker, Golden Eagle Coin, GoldMoney, SD Bullion and Canadian Mint ads on the site.


Browse Silver Coins on Amazon

Buy Silver Austrian Philharmonic Coins

Browse Collectible Coins on Amazon

*DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.

Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.

The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.

The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.

  • J

    Oh yeah, I am suppose to believe the World Gold Council and their gold reserves by country data. That’s like trusting the fox to be in charge of the farmer’s chicken coop and report how many chickens the farmer has.

    • Smaulgld

      Interesting perspective. What gold reserves numbers, if any, can we believe?

Post Navigation