Gold Bullion Vault – Periodic Table Of Videos
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[Gold Bullion Vault – Periodic Table Of Videos]
[Professor Martyn Poliakoff] Source: LYBIO.net
In some ways, I think it’s quite disappointing seeing these bars because the gold is an exciting element. It has interesting chemistry and it’s just sitting here doing nothing. It’s enormously impressive, but it’s a bit sad, rather like mausoleum where the dead gold is sitting, waiting for people to remember it, could be doing exciting reactions and so on.
We are in the Vault, the Bullion Vault at the Bank of England, I’ve never seen so much gold. In fact, I’ve never seen so much of any element. So we are standing here and each shelf here has got a tonne of gold, which is worth £35 million at today’s price, tomorrow it might be worthy even more, it’s very secure, we’ve been through a whole series of security checks, no money is allowed here to make so we don’t take anything out, and so we both really excited to be here, so the camera might be shaking with greatest excitement. I’ve never seen large lumps of gold and to see it all around is extraordinary.
Once first reaction is that it can’t possibly be real because normally, you don’t see such things, looks like chocolates in the Duty-Free at the Airport or something like that, but these really are solid gold bars and it’s quite extraordinary. There isn’t any smell because metals don’t smell and it’s very quiet because of the thick walls and to keep it secure. The vault has been very cold recently, and I was ready to be shivering, but it’s nice and warm but I suppose gold color also gives you a feeling of warm, so it maybe partly psychological.
The reason why the bank has got this store, is because not only the Bank of England, but other Central Banks like to keep some of their money reserves in gold, because the price of gold is very stable, with the value of gold compared to the value of currencies which can go up and down and so every country has a certain proportion of its reserves in gold. And if you look at the statistics, the UK at the moment has about 310 tonnes of gold in its reserves, but there is much more gold here than that, because it belongs to all sorts of people not just to the Bank of England. This vault is part of a complex of different rooms, I haven’t seen the others rooms, but altogether, if you look at the Bank’s Annual Report it’s worth £197 billion that is £197,000,000,000 million [$315,000,000,000] and that’s quite a serious sum of money.
The people buy and sell the gold and each block of gold has its own number like your car has a registration number and when people buy and trade the gold, they don’t actually take the bar home, but just that number is transferred from the sellers account to the buyers account and the gold just sits here quietly. Apparently, the oldest bar of gold here has been here since 1916 that’s the first World War, nearly a 100 years ago, but the beauty of gold as a chemical element is that it’s very unreactive, so it looks just the same now as it did in 1916, it hasn’t tarnished, it hasn’t got oxide layers on the surface, it hasn’t started creeping changing its shape and so on.
[Professor Martyn Poliakoff] Source: LYBIO.net
So come over here because they’ve given me two bars that we can look at, so we’ve got two different bars of gold, which are both the so-called London Good Delivery bars, which means that their weight is in a certain limit range, and in fact, each of them has its precise weight to put on them in a rather strange units called a Troy Ounce, so this one is 399.100, this one was made in Australia and this one that apparently came from Switzerland and it’s slightly heavier 400.075.
I must say this one looks much nicer, it’s polished more and this one looks a bit like a loaf of bread, but it’s rather miserable loaf of bread, but pretty fantastic lump of gold.
Now one of the things you know about gold is that it’s really heavy, so I’m going to see whether I can actually lift this with one hand, and I can sort of lift it but not easily, two hands is quite easy, so this weighs each of these in more understandable units, weighs something like 12.4 kilos or £28, so for those of you who use imperial units that’s two stone, each of these is worth about £435,000, you could buy two quite nice houses for a block like this or for a whole shelf of these which contains a tonne, you could buy a 137 of the up-market Rolls-Royce cars, so take your choice.
These blocks are bit like bricks and if you took all the gold that did ever been mined and put them together like a construction kit to make a big block, you would end up with a block that was 20 meters cubed that’s 60 feet on each side, which would easily fit for example under the legs of the Eiffel Tower, wouldn’t look all that big just as a building on the street and that’s all the gold there ever has been. I did a little calculation on the weigh here, I weigh about the same a six of these bars of gold, which means that if I will worth my weight in gold, I’d be worth a bit over £2.5 million I was bit disappointed; thought I might be worth more, but still.
[Brady Haran] Source: LYBIO.net
So not are only would all the gold ever mined to fit here under the legs of the Eiffel Tower, it’d fit here quite easily, by my reckoning that cube of about 20 meters in each direction would probably fit three times from there, to over there; same for each side; and you could probably stack it on top of few times as well. So not that much gold, You know, we actually filmed a bit more on the vault, we haven’t used, so stay tuned, we might use that soon, in the meantime, we’ve made plenty of other films about gold, we’ve evaporated it, we’ve dissolved it, you can check them out also.
The University of Nottingham
Films by Brady Haran
Gold Bullion Vault – Periodic Table Of Videos. So come over here because they’ve given me two bars that we can look at, so we’ve got two different bars of gold. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.