CURRENCIES RISING INTEREST 4 facts about bank vaults 1 The Federal Reserve Bank of New York's gold vault is the largest known monetary-gold reserve in the world. It holds about 507,000 gold bars that altogether weigh 6,331 metric tons. 2 There are multiple classes of vaults. The lowest class takes 30 minutes to break into, and the highest takes 120 minutes. 3 Vaults are built to withstand significant damage. Multiple vaults made by Mosler Safe Company survived the atomic bombing of Hiroshima. 4 The Gold Rush was a catalyst in the widespread use of vaults. Unsuccessful prospectors could steal traditional safes from banks with little to no diff iculty. -LG 12 // ICBA Independent Banker // July 2024 Photo: Serhii Chrucky / Alamy Stock Photo