The Vatican’s finances have always been shrouded in mystery. It wasn’t until recently that anyone really knew any real details of the Vatican’s business dealings and holdings. Have you ever wondered how much gold the Vatican has? Let’s take a look at what we know.
Gold and Other Assets
According to an article in the International Business Times from late 2014, it was reported that the Vatican had around $20 million worth of gold reserves kept with the U.S. Federal Reserve. Beyond its gold holdings, it also held $764 million in equity in various accounts and managed $64 billion in assets globally.
The Vatican also reportedly has gold reserves stored internationally as well as countless objects that contain gold. Artwork and liturgical objects add up to literally tons of gold worldwide. The total amount of gold held by the Vatican proves impossible to calculate. Some say it is over $50 million, however.
Transparency
Pope Francis, the current pope, set out to reform the Vatican’s financial reporting. He fired the all-Italian Vatican Financial Information Authority Board and replaced them with International representatives. He also made the Vatican’s financial records public. Before 2014 it was difficult to find almost anything related to the Vatican’s financial dealings.
Origins
Where did the Vatican’s gold come from? It is hard to know exactly, but the Catholic Church has been around for 2,000 years, so it makes sense that a considerable amount of gold, art and other artifacts have been collected during this timeframe. It is reported that much of the gold that the Vatican owns are the result of individuals and clergymen who, across the centuries, built and designed churches and ceremonial items. These individuals incorporated gold in their works in the name of glorifying God. The Vatican keeps physical gold in vaults to secure its various investments and business interests.
Conclusion
The Vatican holds millions of dollars worth of gold and other assets. Actual amounts are hard to pin down, but their gold holdings top $50 million according to the most recent reports. It is easier to find information today thanks to recent reforms made by the Pope concerning the Vatican’s finances, but the information is still hard to come by. One thing is for sure. The Vatican has a lot of Gold!
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Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.
