Home / Sports / Olympic Medals Pricier Than Ever: Gold Worth $2,500!
Olympic Medals Pricier Than Ever: Gold Worth $2,500!
20 Feb
Summary
- Olympic gold medals are mostly silver with minimal gold plating.
- Gold medals have an intrinsic value of about $2,300 to $2,500.
- Silver medals contain about 500 grams of silver, valued at $1,400.
Athletes receiving medals at the Winter Olympics in Italy this month are being honored with the most valuable awards in the Games' modern history. This increased worth is attributed to near record-high prices for precious metals. Since July 26, 2024, gold prices have surged approximately 110%, reaching about $5,000 per ounce. Concurrently, silver prices have climbed about 180%, hovering near $78 an ounce.
At current market rates, the intrinsic value of a gold medal is estimated between $2,300 and $2,500. It's notable that these gold medals are predominantly composed of silver, with only a six-gram gold plating. Solid gold medals have not been awarded since 1912. Silver medals, containing around 500 grams of silver, now have a raw metal value of approximately $1,400. Bronze medals, made mainly of copper, have a negligible intrinsic value.
