17,554 troy ounces per cubic foot, X 20 cubic feet X spot price comes to around 420 million dollars.
The 20 cubic feet must be a bad estimate from the source.
Texas Gov. Rick Perry is supporting a bill that would return the state’s $1 billion in gold reserves currently stored by the Federal Reserve at a vault in New York to the state.
Read more at http://www.wnd.com/2013/03/why-texas-wants-its-gold-back-from-the-feds/#mU5OJr7GhYX17iYu.99