Germany Gets its Gold Back “Early”

German Bundesbank Achieves Gold Repatriation Goal Ahead of Schedule.

Gold Repatriation from NY Fed Completed.

More Than Half of Germany’s Gold to Be in Germany by Year End.

Gold Represents about 2/3 of Germany’s Reserves.

The Lowest Cost. Period.

Buy Canadian Silver Maple Leaf Coins

Check out all the Smaulgld podcasts here.

Not a Smaulgld subscriber? Sign up here.

Donate To via paypal

Please consider making a small donation to Thanks!

Why Germany Has Much of its Gold Abroad

According to the World Gold Council Germany has 3,381 tons of gold, the second largest central bank gold holdings.

Until recently, Germany stored 69% of its gold abroad in London, Paris and New York. The German Bundesbank set a goal that by 2020 they would have half of their gold in Germany, 37% at the New York Federal Reserve and 13% in London at the Bank of England. (and none in Paris)

Jens Weidman, President of the Deutsche Bundesbank explains in this video from the Deutsche Bundesbank the historic reasons (Cold War concerns) for storing Germany’s gold abroad and the changed circumstances. He notes there is no need to have gold in France since Germany and France share the same currency, the Euro. London and New York provide geographic diversity and dollar and pound exchange capabilities.

Germany’s First Gold Repatriation Request

In January 2013, Germany made a gold repatriation request to United States Federal Reserve in New York and Banque de France in Paris regarding a portion of the gold they held on deposit at those entities. At the time, Germany cited the potential of a currency crisis and the need to have its gold close by.

Germany requested repatriation of a total of 674 tons of gold from the New York Fed and the Banque de France. The Fed notified Germany their gold would be delivered over a period of eight years, raising eyebrows as to why it would take so long to make the requested repatriation.

A Slow Start

In January 2014, it was reported that just 37 tons of gold had been returned to Germany, with 32 tons coming from Paris and just five tons from New York.

The Pace Picks Up

In January 2015, however, the German central bank the Bundesbank announced that it had received 120 tons of gold in 2014; 35 tons from Paris and 85 tons from New York.

In March of 2015, Henner Asche, deputy head of markets for the Bundesbank noted that 67 tons of gold had been transferred from Paris to Frankfurt and 90 tons from New York to Frankfort, reflecting an increase in the amounts reported at year end 2014 and bringing the total received to 157 tons.

Herr Asche also reported that 1,447 tons of the Bundesbank’s gold were held in New York, 438 tons in London and 307 tons in Paris.

On January 27, 2016, the Bundesbank announced that in 2015, 210 tonnes of gold were transferred to Frankfurt from Paris (110 tonnes) and New York (about 100 tonnes).

With approximately 1,403 tonnes of gold, Frankfurt has been our largest storage location, ahead of New York, since the end of last year,” said Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank. Germany reported that its gold reserves held in Frankfurt were 1,402 tons, or 41.5% of Germany’s 3,381 tons of gold, with 1,347 tons or 39.9% of Germany’s gold remaining at the NY Fed.

In February 2017, it was reported that Germany had met its goal of repatriating its gold from the New York Fed ahead of schedule. As of January, 2017 the German Bundesbank reported:

The transfer of gold from New York was completed successfully last year,” said Carl-Ludwig Thiele, Member of the Bundesbank’s Executive Board. “The transfers were carried out without any disruptions or irregularities. The gold storage plan for New York, which envisaged the transfer of 300 tonnes of gold from New York to Frankfurt, was fully realised in 2016,” Mr Thiele stated.

Mr Thiele also noted “We will be able to complete the transfer of gold from Paris this year too,” Mr Thiele added. Consequently, there will no longer be any German gold reserves in Paris. The realisation of the gold storage plan is therefore considerably ahead of the original schedule.”

Here is a chart from the Bundesbank showing the current state of Germany’s gold reserves. Once they retrieve the rest of their gold from Paris they will have more than 50% of their gold in Germany.

Germany gold holding locations February 2017

Source:Deutsche Bundesbank

The Bundesbank has promised to “publish an updated list of its gold bars on its website [on February 23, 2017]. This list contains the bar, melt or inventory numbers, the gross and fine weight as well as the fineness of the gold.”

The Real Question about Germany’s Gold Reserves – Why don’t they add more?

gold reserves by country top ten february 2017

You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
Golden Eagle Coins
JM Bullion
Money Metals Exchange

Sign Up For Updates Here!

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

Get Free Updates From

Subscribe to 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 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 by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Bullion Vault, Gold Broker, Golden Eagle Coin, GoldMoney, SD Bullion, Perth and Royal 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.

Post Navigation