Gold Reserves of Banca d'Italia in Franzensfeste Caverns Unveiled on May 17, 1945
During World War II, a significant discovery was made in the town of Franzensfeste, located in the north of Italy. Hidden away in the fortress of this picturesque town, a trove of gold bars belonging to Banca d'Italia was found.
The gold reserves, which were originally transported from Rome by the Germans in 1943, were stored in unassuming wooden crates and barrels. The Germans had used Russian forced laborers to store the gold bars in the caverns of Franzensfeste.
The gold was not left untouched for long. A convoy, consisting of 13 trucks, four armed vehicles, and nine jeeps, left Franzensfeste at 11:00 a.m. on May 17, 1945, under heavy guard. The destination of this convoy was Rome.
The U.S. Army's 349th Inf. Reg. was involved in this transfer, starting the loading of the gold barrels onto trucks as early as 5:00 a.m. on the same day.
It is known that after this transfer, some of the gold was taken to Switzerland and Berlin. Towards the end of the war in 1945, a part of the Italian gold was taken from Berlin, with a small part remaining in Franzensfeste. The gold was eventually handed over to the Allied financial authority in Rome.
Despite extensive research, the exact fate of the 24 tons of gold (worth approximately $28 million) remains a topic of investigation and speculation. Some gold is believed to have been lost or hidden, but most of the reserves were accounted for and returned to Italy.
For those interested in learning more about the journey and ultimate fate of this WWII gold, historical archives or specialized WWII financial history sources would be more informative.
- In the aftermath of World War II, the history of the Italian gold reserves held significant implications for both the industry and finance sectors, as the gold's journey from Franzensfeste to Rome, Berlin, and Switzerland had far-reaching effects on the global economy.
- Back in the industry landscape during World War II, it's worth noting that the discovery of the Banca d'Italia's gold trove within the fortress at Franzensfeste also served as a stark reminder of the role that finance industries could play in the conduct of war and their hidden connections with other industries, such as mining and transportation.
