Gold reserves of Norway

The gold reserves of Norway (Norwegian Bokmål: Norges gullbeholdning or Norges gullreserver) were the physical reserves of gold of the Kingdom of Norway.

In 2004, the gold reserves consisted of approximately 37 tonnes divided on 33.5 tonnes of bars and 3.5 tonnes of coins. In 2004, the Bank of Norway—the central bank issuing the Norwegian crown—excluded the gold from its forex reserves and sold all bars, except seven, on the international gold market in London.

Of today's approximately 415,000 gold coins, 393,000 (approx. 3.3 tonnes) are Norwegian 10-crown and 20-crown coins of the 19th century and early 20th century, produced at the Mint in Kongsberg, while the others (approx. 200 kilos) originate in Sweden, Denmark, France, Austria, and Hungary.

In April 1940, when Norway was invaded by Germany, the gold reserves included 48.8 or 60 tonnes. During the morning hours of 9 April, 818 boxes of 40 kilos each, 685 boxes of 25 kilos each, and 39 barrels of 80 kilos each were brought out of Oslo parallel with the capital city being invaded. The gold was subsequently transported to the United Kingdom by the British Royal Navy and, in June and July, further to Montreal, later Ottawa, in Canada and New York City in the United States. Only a small portion, approximately 5,715 troy ounces, was kept in London. From 1940 to 1945, the gold reserves would fund both the exiled King and Government and the resistance movement.

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