Sewer Worker Finds Way Into Bank of England's Gold Vault
The gold vault underneath the Bank of England is one of the most secure and mysterious places in the world.
Photo: Bank of England
This vault is home to nearly 400,000 gold bars, worth more than £200 billion, according to the Bank of England.
In the past you could exchange banknotes for the equivalent value in gold at the Bank of England, but this has not been possible since the early 1930s.
You can, however, hold a real gold bar in the Bank of England Museum!
The gold vault of the Bank of England, established in 1694, is one of the largest in the world, rivalling the United States' Fort Knox.
Buried deep underground, the vault is designed to withstand attacks and natural disasters, featuring walls several feet thick and doors weighing tons.
Access is highly restricted, with multiple security measures including voice recognition, keys, and codes.
The vault’s immense capacity and security make it the ideal location for storing not only the UK’s gold reserves but also those of other countries, central banks, and international organisations.
The gold stored here is a vital part of global financial systems, providing stability and security in times of economic uncertainty.
One of the most intriguing stories from the vault’s history involves a Victorian-era sewer worker who accidentally discovered a secret entrance.
In 1836, the Directors of the Bank of England received anonymous letters.
The writer claimed to have access to their gold, and offered to meet them in the gold vault at an hour of their choosing.
The Directors were finally persuaded to gather one night in the vault. At the agreed hour a noise was heard from beneath the floor and a man popped up through some of the floor boards.
The man was a sewerman who, during repair work, had discovered an old drain that ran immediately under the gold vault.
After the initial shock, a stock take revealed that he hadn’t taken any gold. For his honesty, the Bank of England rewarded him with a gift of £800. This would be worth about £80,000 in today’s money.
Today, the gold vault continues to play a critical role in the global economy.
Gold remains a trusted asset, a hedge against inflation, and a safe haven during financial crises.
The Bank of England manages gold reserves for the UK Treasury and numerous other central banks, ensuring the precious metal’s safekeeping and accessibility.
Moreover, the Bank of England periodically opens its doors to visitors, offering guided tours of its facilities.
While the gold vault itself remains off-limits to the public, these tours provide a glimpse into the bank’s operations and history, highlighting the importance of its gold reserves.
If you enjoyed this blog post, please follow Exploring GB on Facebook for daily travel content and inspiration.
Don’t forget to check out our latest blog posts below!
Thank you for visiting Exploring GB.
