Yugoslav Monetary Gold 1939-1951

Abstract

Large part of Yugoslav monetary gold i.e. 7,344 ingots was secretly deposited in the USA already in spring 1939. $50 million of gold were defrozen by the U.S. Government only in 1948. In April 1941 the Italians captured 124 boxes of gold and coins, the Germans 10 boxes only. Yugoslav Government evacuated 20 boxes by air and 50 boxes just disappeared. Under the Peace Treaty with Italy 5,875 kg of gold were restituted to Yugoslavia, 2,517.9kg were converted in a lira account with Bank of Italy on behalf of Yugoslav Government. The Bank of England in the years 1948-58 transferred to the National Bank of YugosIavia 334,654.186 oz of gold and coins in restitution for gold plundered by Nazis. The Ustasha treasury is believed to have financed the escape of fugitive Croatian and other war criminals.