U.S. Gold Reserve Carries $11 Billion Book Value Under Federal Law

The United States listed 261.499 million fine troy ounces of gold at $11.041 billion on Oct. 16, a statutory valuation that contrasts with a separate market estimate above $1 trillion dated 2025.

The same reserve totaled 261,498,927 fine troy ounces and carried $11.041 billion in statutory value on Sept. 30, 2025. Its market value was $1.000312 trillion, based on a price of $3,825.30 per fine troy ounce and the London Gold Fixing.

That trillion-dollar figure is a dated valuation, not a current estimate. The Oct. 16 reserve position listed gold at $42.2222 per fine troy ounce. Federal law sets the valuation for outstanding gold certificates at $42 and two-ninths per fine troy ounce and caps their total value at the value of gold held against them.

Book entries turn government-owned gold into a Treasury credit, with proceeds going to the Treasury General Account.

S. 954, the BITCOIN Act of 2025, introduced March 11, 2025, proposed replacing existing gold certificates with certificates reflecting fair market value. It proposed using the proceeds for a program to buy up to 1 million Bitcoin (BTC), with any excess directed toward public debt. S. 954 is a proposal, not an adopted revaluation policy.

TokenPost previously examined a hypothetical U.S. gold revaluation.

In an Aug. 1, 2025, note, Federal Reserve economist Colin Weiss wrote: “While reducing the debt stock using revaluation proceeds improves the fiscal situation at the margin, drawing on revaluation proceeds may not address larger structural challenges.”