The Value of Olympic Medals
The gleaming gold medals awarded to Olympic champions hold immense value, both sentimental and financial. But how much are these coveted prizes actually worth?
It’s clear that the medals are not made entirely of gold. In fact, they haven’t been since 1912. Today, they are crafted from a combination of silver (95.4%) and a thin layer of gold plating (6 grams). There are also reports of an additional 18 grams of iron added to the mix.
Calculating the value of the medal involves considering the cost of its components. The silver portion, weighing 505 grams, is valued at approximately 403.79 euros. The gold plating, at 6 grams, is worth 423.54 euros. The presence of iron, estimated at 18 grams, adds a negligible cost of 1.7 cents. In total, the estimated value of the gold medal is around 1,272.33 euros.
The bronze medal, weighing 455 grams, is composed of 415.15 grams of copper, 21.85 grams of zinc, and 18 grams of iron. Its estimated value is around 12 euros.