Dutch Central Bank Moving Its Gold Out of Amsterdam? - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

Dutch Central Bank Moving Its Gold Out of Amsterdam?

blog | Published On by
Dutch Central Bank Moving Its Gold Out of Amsterdam?

There have been several reports that the central bank of the Netherlands, the DNB, is now exploring options for moving its gold out of the country. Interestingly enough, this not only stands in contrast to the country's repatriation of much of its gold back from New York last year, but presents a great deal of problems on top of that.

In-N-Out Bank?

The trend of "gold repatriation" was a big theme during 2015, especially as central banks have become net purchasers of bullion. (During the 1990s and early 2000s, they were mainly selling gold. The Bank of England infamously dumped a sizable portion of its gold holdings back when the metal was trading around $400 per ounce!)

successLast year, the DNB covertly repatriated a whopping 122.5 tonnes of its gold from New York back home. Prior to the move, a hefty 51% of the country's gold was residing in vaults in New York.

In addition to the Netherlands, gold repatriation was pursued by Germany, France, and several other smaller nations. Most of the European powers have a great deal of gold reserves, so they split much of the storage between vaults in the United States and the United Kingdom. This is why so much foreign-owned gold is held by the Federal Reserve Bank of New York, and why London is essentially the gold vault capital of the world.

Germany has begun receiving back its gold held abroad, and will repatriate more of the yellow metal from overseas over the next 7 years. Similarly, the Swiss (who are small enough in population to operate a truly direct democracy) have considered repatriating all of the Swiss National Bank's gold reserves.

Considering a Move

The decision about whether or not to move gold out of the Netherlands has arisen because of renovations taking place at the central bank's headquarters in Frederiksplein. This poses a security risk for keeping the precious metal stored there. However, sending the gold back out of the country seems to reverse the decision the DNB made last year to gain greater control over its gold!

NYfed-vault-Fed-Reserve-PhotoOnly 31% of the gold reserves of the Netherlands (roughly 189 tonnes) are held in the country's capital, Amsterdam. (Another city known as The Hague is the seat of the Dutch government, however.) The rest of the Dutch gold is held in New York (31%); Ottawa, Canada (20%); and London (18%).

In total, The Netherlands' gold reserves amount to 612.5 tonnes of gold, worth approximately $7.7 billion. It represents 54.6% of the central bank's total foreign reserves.

The DNB may be taking extra precautions after a mishap at the IMF last year led the international body to overstate the Dutch gold reserves. The Netherlands altruistically corrected the IMF's error. It just goes to show that a great deal of misdirection and confusion goes on when it comes to national gold reserves.


The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.