![]() All written content, illustrations, and photography are unique to this website (unless where indicated) and not for reuse/reproduction in any form. trademarks protected by all applicable domestic and international intellectual property laws. The "Military Factory" name and logo are registered ® U.S. ![]() Whatever the case, it's still a pretty good deal.2024 Military Pay Chart Military Ranks DoD Dictionary Conversion Calculators Military Alphabet Code Military Map Symbols Five gold bars weighing twelve pounds each should be worth only $1.2 million at current gold prices. Six months after the end of the war, Iraqi authorities returned 3,216 gold bars under UN supervision.Īlthough the story has been widely reported, the value of the gold bars doesn't quite add up. The gold is thought to be Kuwaiti in origin-Iraqi forces engaged in widescale looting of the country after the August 1990 invasion of Kuwait. The design, first introduced in 1949, is thoroughly obsolete but still serves in Third World armies around the world. The Type 69 was armed with a 100-millimeter main gun and a 12.7-millimeter machine gun. The Type 69 was a Chinese copy of the Soviet T-55 medium tank and sold in large numbers to the Iraqi Army during the 1980s. ![]() Get more wonderfully strange news in the Popular Mechanics newsletter The gold was handed over to authorities, and Mead has placed a receipt for the bars of bullion in a safe deposit box. They pulled out five gold bars weighing about twelve pounds worth an estimated $2.4 million. ![]() Mead and his mechanic, Todd Chamberlain, were filming the opening of the fuel tank because they had already found machine gun ammunition in the armored vehicle and wanted video proof in case more ammunition was found. Play icon The triangle icon that indicates to play ![]()
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