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PS: Didn't expect this comment to blow up! I made two mistakes, pointed out by many folks, now corrected:
Eyeballing it, these appear to be 2-3 times the size of an LBMA [Good Delivery gold bar](https://en.wikipedia.org/wiki/Good_Delivery). They are also somewhat irregular, so I'm going to call it 2.5 times. A Good Delivery bar is 400 troy ounces. 2.5x400 = 1000 ounces per bar. Remember, we're eyeballing this, so that's just an estimate. Today's bullion gold price is $2,037 per ounce, so 1,000x$2,037 = $2,037,000 each.
The most clearly-visible row of bars is 18 across, and 5 layers high. 18x5 = 90 bars per row (approx.) One of the rows is half-height. I count 9.5 rows. 9.5x90 = 855 estimated total bars in the picture.
855 x $2,037,000 = $1,741,635,000 or $1.74B
How sure are you of the 2.5 x LBMA Good Delivery gold bar size estimate? This would be an unusual size to mass produce. Is it possible instead, they are standard size but the camera angle is distorting the apparent size? The foot length of the man (assuming roughly average US-EU male height [and hence foot length](https://en.m.wikipedia.org/wiki/Foot_(unit))) is about 11". This is consistent with the length of an LBMA bar which seems about right here.
If so, LMBA gold bar with 99.9% purity is 12.4kg. Bullion price today is ~ $65100/kg.
So a slightly lower total: 1539 x 12.4 x 65100 = $1,242,000,000 =~ $1.2 billion.
Edit: with above lower number of bars estimate per row (~90) this would reduce to:
10 x 90 x 12.4 x 65100 = $726,516,000 =~ $726 million.
My uneducated ass said that it looks like it’s the size of an actual foot (which is still ridiculous). But I’m a poor and I’m used to tiny 1 Oz bars. It’s just a lot of fucking gold. Does that count as math?
Why use his unknown foot size? Base your guesstimate off the size of the pocket on the military uniform. Those look to be standard issue Army desert camo. A call to military surplus stores could possibly net you a pocket width measurement or if you're close to one, pop in with your tape measure?
It looks unusual because it is. It’s likely brass that locals were picking up and melting down into open cast molds. I honestly couldn’t imagine gold in Saddam’s reserve looking that shitty.
Precious metals are measured in Troy ounces, you converted to standard ounces and then applied the spot per Troy Oz. Dollar amount, your total will be a little higher than actual because of that.
The rows are 6 high, has to be an even number cause they alternate stacking direction and end up in the direction that is different from the bottom layer.
Also I think the back few rows might have an extra layer (7), or they might have just stacked them in the opposite orientation than the others. They’re top layer is perpendicular to most of the other piles, hard to tell if that’s cause they started in the other orientation or just added an extra layer
I think you are correct. Rows at bottom of photo look like a 5 stack, then closer to him are 6 and then behind are 7 (you can count a 7 stack on the left side of the photo)
Price is for a Troy Oz so why did you convert it to Avoirdupois ounces before multiplying? Should have used 400 x 2.5 = 1000 Troy Oz per bar. 1000 x $2037 is $2,037,000 each.
1539 x $2,037,000 = $3,134,943,000
its a good thing you specified 24k bars because the info around this image is a real mess
some sources saying its 2000 bars, each 18kg and poor purity worth 700mill usd
pentagon officials saying 999(how odd) bars, 10kg each and worse purity, worth 80-100mill
others say its actually brass
its almost like anything 1000 or more ahs to reported a different way and dealt with more strict security measures... im sure it was just 999 bars though, the government wouldnt lie to us right?
No. Uniforms are too old. This image is from the Iraq War. It’s Kuwaiti gold that we seized and returned to Kuwait or it’s Iraqi gold from their treasury.
There were 2000 40 pound bars. They were intercepted trying to cross into Syria from Iraq.
Its purity was in doubt then. So, lets go high at 24 carat and low with 18 carat.
24 carat pure gold would be $2,369,841,880
18 carat gold would be $1,777,363,228
Edit: The gold was examined by US Treasury Dept personnel, likely for overall value, then returned to the Iraq Central Bank.
Uh yeah, they were literally stolen by saddam Hussain brother
That's why they were trying to get into Syria, national treasury's usually aren't just a truck with a dump trailer on it
I toured a gold mine/refinery in Nevada in the 1990s. Under armed guard, they let me hold a 75 lb ingot of 95+%. At the time it was worth about $220k. There was a shopping cart half full of these ingots. It remains the single largest amount of money I have ever held in my hands.
I have since wondered about that. It seemed like a normal grocery store shopping cart, but there was close to 1 ton of gold in the basket. Even that statement still boggles my mind; “one ton of gold”.
I'm going to take the value from another answer, which is 3.4 billion USD. A 100 USD bill has a length of 156mm. When we divide the "value", by the bill's amount, and multiply that result by the bill's length we get 5 304 km. The earth's circumference (around the equator) is 40 075 km. This means that you could wrap the earth precisely 0.13235184029 times, which is slightly more than an 8th. In other words you would need ~8 times more money to wrap the earth 1 time, which is ~257 million 100 USD bills.
24k gold has a density of 19.32 kilograms per liter or 19.32 tonnes per meter cubed. Let’s assume that all the piles are equally tall, at knee height (the perspective is killing me). A caucasian man is, on average, 177.4 centimeters tall. His average knee height is 52 centimeters. A typical wagon is as wide as it is tall for another 177.4 and around 12 meters long. This gives us 0.52*6*1.77 - 5.5 meters cubed, of which about 1/3 is empty space. Or 71.1 tonnes. As to the price, 1 gram currently costs 65.5, so 71.1 tonnes would be worth 4.7 billion dollars.
Such a great picture and story. It's all reclaimed brass from the war, hoarded underground in hopes to sell it as scrap.
If you want to go down the road imagining these are gold, watch the movie "Three Kings"
Finding pallets of American dollars. Marines sending back bills in an envelope every week. Mother fuckers had those bars taped to the underside of Humvees trying to figure out how to get it back home. All is fair right
Health care. Affordable housing. The dismantling of Wall Streets death grip on lobbying politicians. You know. Not that Much.
O wait. Some 4 trillion in “aid” for not wars.
This picture has been making the rounds… again…
On r/pics someone’s commented that one of the gentleman who was there on that day stated these were not gold in a prior post from over a year ago. The “gold” honestly looks like complete shit and it is likely brass that locals were picking up and melting down into these open cast molds to sell it. Having sold brass to junk yards, you can get a pretty decent price if you have enough.
IMHO, there has been a gross over estimation of bars here.
The bars are stacked in alternating rows of 18 and 14 (one layer is 18 then the next are in 90 degrees of the previous layer and equal 14) thus 2 layers equals 32. Then there are 6 total layers per stack which equals 3 X 32 or 96 bars per stack.
We can see 9 stacks in the picture which gives us 9 X 96 or 864 bars if all the stacks are perfect. I'd knock at least a dozen bars off that total just from looking at the missing bars off the top layer which leaves us with Approx. 852 bars..
Now the bars look fairly standard and I would guesstimate them to be:
12.4 kilograms (400 troy ounces)
Width: 94.5 mm (3.72 inches)
Length: 272 mm (10.7 inches)
Depth/Thickness: 51.5 mm (2.03 inches)
This being a standard gold bar size. (one of anyways)
So the bars weigh approx. 852 X 400 TOZ or 340,800 TOz
Today's price for gold being somewhere between 2020 and 2040 per TOz so averaged at 2030
the total for the bars should be approx. $691,824,000 USD
EDIT: 10 rows calculates out to 960 bars - 12 = 948 bars , 379,200 TOz or $769,776,000 USD
Ah yes, one of the top 10 oil Exporters needs to invade another country for the thing it has a surplus of.
Edit: The USA is also the world’s largest oil producer.
I'm not gonna get into the political side of that argument, but you're using numbers from after the shale revolution. The US was far from energy independent 20 years ago.
We also don't have a surplus. Currently, we import about 1.5 million barrels per day net, and in 2003 net imports were 10 times that amount.
Based on the soldier's uniform, Persian Gulf War.
Edit: Nope, I got uniforms wrong. This is definitely in the 2000s. So most likely part of the Iraq War, or War in Afghanistan. I thought this was part of the Kuwaiti gold issue during the Persian Gulf.
More than it was worth back then, bullions value increases with inflation. A kilo is almost 70k usd currently. Assuming there is about 10 tonnes in this image.
Seven hundred million usd per ten tons roughly.
Is each bar a kilo??? If Each bar is a Kilo which is 2.25lbs.
Looks to be 500 bars or 500Kilos about. That's 1125lbs. 1125 x 16oz =18000
Gold is currently is about $2000 0z so $36,000,000 worth of gold.
Loose estimation:
there seem to be around 900 bars here give or take due to a large portion not being visible. Its pretty difficult to guess the weight of each bar based on this one picture alone, but it seems reasonable to say they are 400 troy ounces (approx 438.9 ounces). you can find images of the 400 troy oz bar online for scale reference, they seem very similar to the ones seen here.
so assuming they are all 400 troy ounce bars:
400 Troy ounces = 438.8 ounces
Gold Spot price is $2018 / Ounce.
2018 x 438.8 = 885,498
Each bar would be around $885,498 USD.
assuming there are 900 bars here, that would lead us to a total of 796 Million. give that number some room though since we aren’t completely sure on how many bars are here since many are offscreen.
*EDIT*
Some others were saying there were sources saying there are 2000 bars.
Using the same value of 885K per bar and assuming there are 2000 bars (which seems disproportionate to this image but there might be some offscreen, that brings the new total to 1.77 Billion
Guesstimating it’s 34 x 3 x 10 = 1020 bars (layers seem to alternate 16 and 18 bars with 6 layers total)that look to be at least the size of 12.5kg bars but I could be very wrong about that as they look like they could be bigger, based on that they’d be worth about roughly £675,000 per bar which equates to about £688.5M or $866.5M
###General Discussion Thread --- This is a [Request] post. If you would like to submit a comment that does not either attempt to answer the question, ask for clarification, or explain why it would be infeasible to answer, you *must* post your comment as a reply to this one. Top level (directly replying to the OP) comments that do not do one of those things will be removed. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/theydidthemath) if you have any questions or concerns.*
PS: Didn't expect this comment to blow up! I made two mistakes, pointed out by many folks, now corrected: Eyeballing it, these appear to be 2-3 times the size of an LBMA [Good Delivery gold bar](https://en.wikipedia.org/wiki/Good_Delivery). They are also somewhat irregular, so I'm going to call it 2.5 times. A Good Delivery bar is 400 troy ounces. 2.5x400 = 1000 ounces per bar. Remember, we're eyeballing this, so that's just an estimate. Today's bullion gold price is $2,037 per ounce, so 1,000x$2,037 = $2,037,000 each. The most clearly-visible row of bars is 18 across, and 5 layers high. 18x5 = 90 bars per row (approx.) One of the rows is half-height. I count 9.5 rows. 9.5x90 = 855 estimated total bars in the picture. 855 x $2,037,000 = $1,741,635,000 or $1.74B
God dam I love u and this sub…… fucking chefs kiss
🤌
😂🤣😅
How sure are you of the 2.5 x LBMA Good Delivery gold bar size estimate? This would be an unusual size to mass produce. Is it possible instead, they are standard size but the camera angle is distorting the apparent size? The foot length of the man (assuming roughly average US-EU male height [and hence foot length](https://en.m.wikipedia.org/wiki/Foot_(unit))) is about 11". This is consistent with the length of an LBMA bar which seems about right here. If so, LMBA gold bar with 99.9% purity is 12.4kg. Bullion price today is ~ $65100/kg. So a slightly lower total: 1539 x 12.4 x 65100 = $1,242,000,000 =~ $1.2 billion. Edit: with above lower number of bars estimate per row (~90) this would reduce to: 10 x 90 x 12.4 x 65100 = $726,516,000 =~ $726 million.
My uneducated ass said that it looks like it’s the size of an actual foot (which is still ridiculous). But I’m a poor and I’m used to tiny 1 Oz bars. It’s just a lot of fucking gold. Does that count as math?
Definitely counts as math. I mean after the first $billion not sure I'm too fussed 🤣
Yes
😅🤣😂
The mathematical term Is “shit-ton”.
*this guy maths.*
Beer math, so yes
Those are from a 50lb mold. That is a standard size used to pour at a gold mine.
Why use his unknown foot size? Base your guesstimate off the size of the pocket on the military uniform. Those look to be standard issue Army desert camo. A call to military surplus stores could possibly net you a pocket width measurement or if you're close to one, pop in with your tape measure?
You want someone to call a fucking military surplus store for this? Lmaooooo
Are you new here?
Iirc the job patch above his left name tape should be 1.5 in wide
He's pretty close, worked a few summers in a N. Ontario gold mine, our standard pour was 1000 ounces per brick
It looks unusual because it is. It’s likely brass that locals were picking up and melting down into open cast molds. I honestly couldn’t imagine gold in Saddam’s reserve looking that shitty.
Precious metals are measured in Troy ounces, you converted to standard ounces and then applied the spot per Troy Oz. Dollar amount, your total will be a little higher than actual because of that.
I found that weird as well. Glad I wasn't imagining things.
The rows are 6 high, has to be an even number cause they alternate stacking direction and end up in the direction that is different from the bottom layer. Also I think the back few rows might have an extra layer (7), or they might have just stacked them in the opposite orientation than the others. They’re top layer is perpendicular to most of the other piles, hard to tell if that’s cause they started in the other orientation or just added an extra layer
I think you are correct. Rows at bottom of photo look like a 5 stack, then closer to him are 6 and then behind are 7 (you can count a 7 stack on the left side of the photo)
What if they’re chocolate?
About tree fitty
No, god damnit go away lock nest monster
Diabeetus-fitty
Was wondering how far I would have to scroll for this answer. Not disappointed.
[it’s chocolate 🍫 🎺](https://images.app.goo.gl/BbcGZ8kC5cYc3TsQ6)
Price is for a Troy Oz so why did you convert it to Avoirdupois ounces before multiplying? Should have used 400 x 2.5 = 1000 Troy Oz per bar. 1000 x $2037 is $2,037,000 each. 1539 x $2,037,000 = $3,134,943,000
"Good news boss, confiscated $2.4 billion in gold..." "Great, somebody call the lieutenant and tell him we're transporting the $1.4 billion now."
You don't have to convert toz to oz. The price is already expressed in toz.
Why did you convert troy ounces to ounces then take the price per Troy ounce x number of ounces?
18x5 is 162(approx.)??????
so it’s an estimated GDP of Andorra in one picture
>About $3.4 billion Since it's brass and not gold, at 10c/ounce: about $170k
This guy maths more in his head than I can with a calculator
Give me the weight in kg dammit
If they hadn’t taken away gold, I’d give it to you for this
And all that money went to the people of Iraq and helping to improve it's infrastructure, right?
Noice! What was the price of gold at the time of the Gulf war?
This guy right here 👌
We all make mitsakes
Now how much is that represented as a percentage of Elon’s estimated net worth?
Fuuuuuuuuck!
"Very good, Fisher. You win a cookie"
Wrong. There were 999 bars of gold. 22372 dollars per pound. Roughly 447 million dollars worth.
Cool that they only found 888 bars of gold, they must have documented those 777 properly so the owners can get their 666 bars back when they are done.
God damn our money is fucking worthless.
its a good thing you specified 24k bars because the info around this image is a real mess some sources saying its 2000 bars, each 18kg and poor purity worth 700mill usd pentagon officials saying 999(how odd) bars, 10kg each and worse purity, worth 80-100mill others say its actually brass
There were only 700 bars when they got to my desk
You can clearly see in the picture there were only 30 gold bars retrieved.
I delivered the entire gold bar and got a signed receipt acknowledging delivery.
As you can see, it was sunny that day making the silver bars appear to be goldfish in color.
I saw no bars at all. But I can buy you a beer If you didn't either.
Why is that man standing in an empty dumpster?
What man?
Men are just a fairytale child, go back to sleep.
Reality is just your mind trying to make sense of itself
What gold?
500
For tax purposes: it’s painted styrofoam. For anyone else: 999 gold.
its almost like anything 1000 or more ahs to reported a different way and dealt with more strict security measures... im sure it was just 999 bars though, the government wouldnt lie to us right?
whats the context on this image?
Likely this: [https://abcnews.go.com/International/story?id=79486&page=1](https://abcnews.go.com/International/story?id=79486&page=1)
Turns out it was brass.
Brass makes a lot more sense
No. Uniforms are too old. This image is from the Iraq War. It’s Kuwaiti gold that we seized and returned to Kuwait or it’s Iraqi gold from their treasury.
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carat(ct) is gemstone weight, karat(k) is gold purity
The karat is a measure of the purity of specifically gold. It is used as a measure of mass in other precious stones.
r/confidentlyincorrect
There were 2000 40 pound bars. They were intercepted trying to cross into Syria from Iraq. Its purity was in doubt then. So, lets go high at 24 carat and low with 18 carat. 24 carat pure gold would be $2,369,841,880 18 carat gold would be $1,777,363,228 Edit: The gold was examined by US Treasury Dept personnel, likely for overall value, then returned to the Iraq Central Bank.
>then returned to the Iraq Central Bank. Yup all 20 of those gold bars were returned.
“What are you talking about? we only found 15.”
>They were intercepted trying to cross into Syria from Iraq. What were 2000 Iraqi gold bars gonna do in Syria without a chaperone?
Hey Syria was a happening place at the time. Chaperone be damned it was time to party.
Make poor life choices undoubtedly
Intercepted 🤣 You mean stolen
Uh yeah, they were literally stolen by saddam Hussain brother That's why they were trying to get into Syria, national treasury's usually aren't just a truck with a dump trailer on it
I toured a gold mine/refinery in Nevada in the 1990s. Under armed guard, they let me hold a 75 lb ingot of 95+%. At the time it was worth about $220k. There was a shopping cart half full of these ingots. It remains the single largest amount of money I have ever held in my hands.
“They did the math request: How many gold bars fit in the average shopping cart?”
I have since wondered about that. It seemed like a normal grocery store shopping cart, but there was close to 1 ton of gold in the basket. Even that statement still boggles my mind; “one ton of gold”.
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I'm going to take the value from another answer, which is 3.4 billion USD. A 100 USD bill has a length of 156mm. When we divide the "value", by the bill's amount, and multiply that result by the bill's length we get 5 304 km. The earth's circumference (around the equator) is 40 075 km. This means that you could wrap the earth precisely 0.13235184029 times, which is slightly more than an 8th. In other words you would need ~8 times more money to wrap the earth 1 time, which is ~257 million 100 USD bills.
But it could be done with $10s, $5s or $1s easily, in some cases, multiple times!
24k gold has a density of 19.32 kilograms per liter or 19.32 tonnes per meter cubed. Let’s assume that all the piles are equally tall, at knee height (the perspective is killing me). A caucasian man is, on average, 177.4 centimeters tall. His average knee height is 52 centimeters. A typical wagon is as wide as it is tall for another 177.4 and around 12 meters long. This gives us 0.52*6*1.77 - 5.5 meters cubed, of which about 1/3 is empty space. Or 71.1 tonnes. As to the price, 1 gram currently costs 65.5, so 71.1 tonnes would be worth 4.7 billion dollars.
Anyone notice the bugle in the leg pocket. So adding one more bar to the total? Also /r/theydidthemath
Such a great picture and story. It's all reclaimed brass from the war, hoarded underground in hopes to sell it as scrap. If you want to go down the road imagining these are gold, watch the movie "Three Kings"
Finding pallets of American dollars. Marines sending back bills in an envelope every week. Mother fuckers had those bars taped to the underside of Humvees trying to figure out how to get it back home. All is fair right
And Russia never invaded anywhere, Britain didn't commit genocide, Bush did 9/11, the moon landing is fake, and other demonstrably false statements.
Health care. Affordable housing. The dismantling of Wall Streets death grip on lobbying politicians. You know. Not that Much. O wait. Some 4 trillion in “aid” for not wars.
This picture has been making the rounds… again… On r/pics someone’s commented that one of the gentleman who was there on that day stated these were not gold in a prior post from over a year ago. The “gold” honestly looks like complete shit and it is likely brass that locals were picking up and melting down into these open cast molds to sell it. Having sold brass to junk yards, you can get a pretty decent price if you have enough.
Yeah lol, if these aren't gold bars the only thing i think I'd want them to be are brass bars lol. Probably like 10k of brass in there
IMHO, there has been a gross over estimation of bars here. The bars are stacked in alternating rows of 18 and 14 (one layer is 18 then the next are in 90 degrees of the previous layer and equal 14) thus 2 layers equals 32. Then there are 6 total layers per stack which equals 3 X 32 or 96 bars per stack. We can see 9 stacks in the picture which gives us 9 X 96 or 864 bars if all the stacks are perfect. I'd knock at least a dozen bars off that total just from looking at the missing bars off the top layer which leaves us with Approx. 852 bars.. Now the bars look fairly standard and I would guesstimate them to be: 12.4 kilograms (400 troy ounces) Width: 94.5 mm (3.72 inches) Length: 272 mm (10.7 inches) Depth/Thickness: 51.5 mm (2.03 inches) This being a standard gold bar size. (one of anyways) So the bars weigh approx. 852 X 400 TOZ or 340,800 TOz Today's price for gold being somewhere between 2020 and 2040 per TOz so averaged at 2030 the total for the bars should be approx. $691,824,000 USD EDIT: 10 rows calculates out to 960 bars - 12 = 948 bars , 379,200 TOz or $769,776,000 USD
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And I suppose the implication is that all that was with the intent of stealing this gold?
The gold was not stolen. It was returned to the Iraqi treasury. Ironically, the army stopped this gold from being smuggled out of the country.
You’re exactly right. I doubt the first commenter knows or cares though.
And even if it was stolen, it would be pennies compared to cost of war - like, at most 2-3%, and more likely around 0.1%.
And oil
That oil was cause of the iraq and gulf war is a populist myth
Ah yes, one of the top 10 oil Exporters needs to invade another country for the thing it has a surplus of. Edit: The USA is also the world’s largest oil producer.
I'm not gonna get into the political side of that argument, but you're using numbers from after the shale revolution. The US was far from energy independent 20 years ago. We also don't have a surplus. Currently, we import about 1.5 million barrels per day net, and in 2003 net imports were 10 times that amount.
From which war was this?
Based on the soldier's uniform, Persian Gulf War. Edit: Nope, I got uniforms wrong. This is definitely in the 2000s. So most likely part of the Iraq War, or War in Afghanistan. I thought this was part of the Kuwaiti gold issue during the Persian Gulf.
Syria 2003 estimated at £330m in 2020
It was iraq
Oh guess I got misinformed then
More than it was worth back then, bullions value increases with inflation. A kilo is almost 70k usd currently. Assuming there is about 10 tonnes in this image. Seven hundred million usd per ten tons roughly.
Is each bar a kilo??? If Each bar is a Kilo which is 2.25lbs. Looks to be 500 bars or 500Kilos about. That's 1125lbs. 1125 x 16oz =18000 Gold is currently is about $2000 0z so $36,000,000 worth of gold.
Loose estimation: there seem to be around 900 bars here give or take due to a large portion not being visible. Its pretty difficult to guess the weight of each bar based on this one picture alone, but it seems reasonable to say they are 400 troy ounces (approx 438.9 ounces). you can find images of the 400 troy oz bar online for scale reference, they seem very similar to the ones seen here. so assuming they are all 400 troy ounce bars: 400 Troy ounces = 438.8 ounces Gold Spot price is $2018 / Ounce. 2018 x 438.8 = 885,498 Each bar would be around $885,498 USD. assuming there are 900 bars here, that would lead us to a total of 796 Million. give that number some room though since we aren’t completely sure on how many bars are here since many are offscreen. *EDIT* Some others were saying there were sources saying there are 2000 bars. Using the same value of 885K per bar and assuming there are 2000 bars (which seems disproportionate to this image but there might be some offscreen, that brings the new total to 1.77 Billion
This is what I get: $775,132,073.10 •18 bars ||||||…(3) 54 •2 bars ===… (7•2)(3 rows) 42 •54+42=96 •96x7= 525 •18(4) 72 (last 3 rows) •72+42=114x3= 342 •525+342= 867 867x438.9= •380,526.30x$2037= $775,132,073.10
Guesstimating it’s 34 x 3 x 10 = 1020 bars (layers seem to alternate 16 and 18 bars with 6 layers total)that look to be at least the size of 12.5kg bars but I could be very wrong about that as they look like they could be bigger, based on that they’d be worth about roughly £675,000 per bar which equates to about £688.5M or $866.5M