Which country's people hold the most gold in the world?

Discussion in 'Bullion Investing' started by fretboard, Aug 23, 2011.

  1. Phil Ham

    Phil Ham Hamster

    I'll go with the US. We are the weathiest nation on earth and have a lot of gold in our jewelry, coins, etc. India may be gaining the quickest but the US must be way ahead considering the large amount of wealthy and middle class.
     
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  3. Conder101

    Conder101 Numismatist

    Try Finland, the only country to actually pay back their WWII loans made by the United States.
     
  4. Guano

    Guano New Member

    Then go give a few $1000 dollors to your local Indian Reservation.
     
  5. Guano

    Guano New Member

    Americans always think their owed gratitude or some kind of entitlement.
    (I'm American)
     
  6. coinmogul

    coinmogul New Member

    You have heard right thing B4 some mths new channel displayed that one of the temple i having tones of gold in its basement and 5 doors are open still one is pending n is expected to have more gold than all 5.

    2nd thing in India there one state which is called as royal state n has highest gold it is said that if you put 100 boogies 60 trains to gather that much gold the only state is having....... so you can imagine how much gold India has.

    Moreover in ancient India people use to invest in gold only rather than land or other securities....
     
  7. sylvester

    sylvester New Member

    Hence why 1924 Double Eagles are now so prolific, up until 1974 they were thought to be quite rare, or at least a key date, once Ford changed the law allowing Americans to own gold again, the 1924s started returning from bank vaults in Europe.
     
  8. sylvester

    sylvester New Member

    I believe the UK paid it back (not sure if it was in full or deducted) but the British govt made their last installment around 2006.
     
  9. sylvester

    sylvester New Member


    Sensible people. I had heard that Indians owned the most gold, if you think about it, there are a heck of a lot more people living in India than in the USA, if about 2/3rds of them own some gold, however small (maybe an earring or two, or a bangle) then the maths would be in favour of India. This is before we take into account the temples and religious shrines etc.

    I don't doubt that their is alot in the US either, but I think Indians tend to be more in touch with gold as a medium of transaction than the US, where paper.land assets are equally as valued.
     
  10. Collector1966

    Collector1966 Senior Member

    According to my 1970 Redbook, a 1924 Double Eagle was considered just a common date, even back then ($85 in VF, like all the other common dates).

    And Americans could always own gold coins and jewelry (I bought my first gold coin in the late '60s). The law that Ford signed allowed Americans to own *bullion* gold, and removed all remaining restrictions on foreign gold.
     
  11. Lon Chaney

    Lon Chaney Well-Known Member

    I just don't think many of the middle class have money tied up in gold. Sure, maybe the wealthy do, but not all of them. I don't know many people who own physical gold, and I bet you don't either. Modern day people in the US don't see gold as money, and probably wouldn't even know where to go buy bullion.
     
  12. sylvester

    sylvester New Member

    My sources must be wrong on the 1924, but I had read it in more than one place, so maybe the mis-information has travelled a little!

    I stand corrected on the bullion.
     
  13. Collector1966

    Collector1966 Senior Member

    Here's the actual page from the 1970 Redbook:
     

    Attached Files:

  14. sylvester

    sylvester New Member

    I believe you, I believe you! :) I didn't say I didn't I'd be the first person to admit when i'm wrong.
     
  15. Collector1966

    Collector1966 Senior Member

    I just wanted you to know I wasn't just "blowing hot air". :)

    At any rate, the two dates of St. Gaudens Double Eagles that seem be the most common over here in Japan are the '24 and the '27, but I have no idea of the route they took to get over here.
     
  16. InfleXion

    InfleXion Wealth Preserver

    This is what I was thinking. Based on sheer population it would probably be China or India. They also both have an enormous history, and thus time to accumulate, but India seems to have more of a cultural affinity for gold than anywhere else.
     
  17. fatima

    fatima Junior Member

    I agree about India. I would also agree about China too except the Communists running that country made gold ownership illegal until about a decade or so ago when the "Reds" reversed themselves. They do seem to be rapidly catching up however as evidenced by the almost complete disappearance of gold numismatic products from the China mints here in the USA. They are being bought up and sent back to China and sold at considerable profit to individuals there. Anything before 2000 carries a pretty good premium if you can even find it.

    A lunar gold set from the China mint, gold fan coins (especially a complete set), etc. are very hard to find here now.
     
  18. coinmogul

    coinmogul New Member

    You are making mistake its not about only an ear ring or two or a bangles but Indians mentality is to invest in those thing which can give you instant money.... which is later followed by world... if you go deep in history than you will definitely get the answer.... And an earring or bangles all to gather makes large number of gold bullion's....
     
  19. sylvester

    sylvester New Member

    True. I should have elaborated my point a little more in retrospect. I was thinking specifically with the poorer rural areas in mind (with limited resources, where they might tie their cash, however small into personal gold items, of course the more affluent members of society will no doubt hold far more gold than a few bits of jewellry.
     
  20. Phil Ham

    Phil Ham Hamster

    I'm probably the minority, but I'm married, twice. I have a gold band on my finger. It doesn't sound like much but start multiplying it by millions. It isn't the same in India. I know; I was just there.
     
  21. RGJohn777

    RGJohn777 Junior Member


    I've heard something similar but I'm not sure if it is about the 'most gold' or 'as much as the rest of the world combined'. But in any case it (gold) is highly respected. As it is here, in Mali, among the Inca, the Ashanti, the Ancient Greeks, .........
    hmmmm,.... if we have a truly free and worldwide economy why not use, as a medium of exchange, something upon which we all seem to agree to be valuable?
    -----
    Sorry, just being silly again.
     
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