Sports

How Much Gold Is In An Olympic Gold Medal?

The return of the Olympic Games brings myriad questions. This reporter is fascinated with the medals won by the athletes. Are the gold, silver, and bronze medals really made of the metals for which they are named? Well, yes they are. However, in the case of the gold and silver medals, not as much of the expensive stuff as you might expect.

The medals, designed by David Watkins measure just over 3 inches across and weigh close to a pound. They are the largest medals ever awarded at the Summer Games.

Olympic Gold Medals only 1% real gold

 

As explained by the Daily Mail:

  • Gold medals contain just 1% gold. The remaining metal mix is silver 92.5% and about 6% copper, which puts the material price under $650.
  • Silver medals are mandated by the International Olympic Committee to contain at least 550 grams of “high quality silver.” Despite the mandate and the rising price of silver, the second-place medals are worth about half of the gold medals.

Of course the value of an Olympic medal is well beyond the cost to make one. These medals represent a lifetime of dedication to a sport that typically includes countless hours spent training to become one of the best in your country, and then competing against the rest of the world.

Can you buy an Olympic medal? Yes. The practice of selling a medal is not something that the IOC encourages, but they cannot stop it. In 2010, gold medal won by Mark Wells of  the championship USA Hockey team  was auctioned. The “Miracle on Ice” medal sold for over $310,000.

If you are interested in getting a medal for your personal collection, this bronze medal from the 1972 Munich games was found on Ebay. (Bidding starts at just under $3000.)

Olympic Gold Medals only 1% real gold

Comments (30)

  • Sheriff Joe Rocks
    Posted on August 2, 2012 at 2:13pm

    Why the letters ZION on the back of the medal? What does that stand for?

    Report Post »  
  • pathfinder41
    Posted on August 1, 2012 at 5:20pm

    And if the United states win a metal just remember that the person that one needs to remember you didn’t win the metal some one else one it for you? Right

    Report Post »  
  • strewth_cobber
    Posted on August 1, 2012 at 1:52am

    Well, if that isn’t false advertising…

    Report Post »  
  • flatbroke
    Posted on July 31, 2012 at 5:26pm

    I will keep my own little gold and silver medals in my safe TYVM! 22K and 99%

    Report Post » flatbroke  
  • obrien871
    Posted on July 31, 2012 at 5:04pm

    Let’s not forget the tag… made in China!

    Report Post »  
  • obrien871
    Posted on July 31, 2012 at 5:04pm

    If you’re black you should get an extra ten seconds shaved off your running time to “even the field” like they do on SAT scores… oh wait blacks can run faster than whites… never mind! LOL

    Report Post »  
  • justasurvivor
    Posted on July 31, 2012 at 12:53pm

    The webpage has now been altered to say ” In lieu of wedding presents, birthday presents, and Olympic medals, send the money you would have spent to ‘Obama for President.’ “

    Report Post »  
  • ImmediateRealityCheck
    Posted on July 31, 2012 at 12:14pm

    OK, let’s figure this out. A solid gold metal weighing 1 pound would have 12oz x $1800/oz = $21,600 per medal. If there are 100 medals given out that would total $2.16 million. Solid silver medals would be 12oz x $38/oz = $456 each or $45,600 for 100 medals. Together, that is $2.5 million for REAL Gold and Silver medals. The cost of the games is what, about $1 Billion? Getting real medals for the atheletes would cost less than a rounding error in the big picture of the games.

    This illustrates again what was apparent here in Salt Lake City during the 2002 Games- the athletes are two-bit players in the scheme of the games, which is really just an excuse for a giant high-priced party for the elite Olympic Family Members and International community, with a few chances for political one-ups-man-ship and bragging rights for a few nations between Games. So those who sacrifice the most and risk everything are literally thrown a token, reduced to not much more than costume jewelery, in an effort to save money for more ‘important’ expeditures. This is another scandal thrown on top of a mountain of them known as the Olympics.

    Like the Soldiers who fight and die for protecting our country, it is up to us the ‘common people’ to make up to them and the Olympic athletes the respect and appreciation lacking by the ruling elites.

    Report Post »  
  • SR1911man
    Posted on July 31, 2012 at 11:14am

    Here is what they would cost in each medal was .999 pure (99.9% pure).

    The article states each weighs about a pound. In the world of precious metals, weight is calculated in Troy Ounces (ozt). 12 troy ounces = 1 troy pound. if they are talking about our American pound (Avoirdupois pound) it is about 14 troy ounces. We’ll assume they mean troy pounds to keep things simple.

    At current spot prices-

    Gold Medal = $19,476

    Silver Medal = $339.36

    Bronze Medal (Usually a mixture of Copper & Tin) = Probably about $3.20

    In case y’all were wondering.

    Report Post » SR1911man  
    • Big Media Bias
      Posted on July 31, 2012 at 12:03pm

      I was wondering how many USA medals will be stolen by TSA baggage screeners. But your post is interesting as well.

      Report Post »  
  • BlasberryStrat
    Posted on July 31, 2012 at 11:14am

    Everyone should get a medal for participation, and all events should have a ‘sliding scale’ of difficulty – of course stacked against the American’s. After all, it‘s time ’we be taken down a notch or three’. There should be no ‘Gold, Silver, or Bronze’. ALL medals should be the same so no one is left out or made to feel inferior. And all be laced with a neckband of rainbow colors to celebrate gay pride across the globe.
    I talked with my brother last night (who was third in the world standings for Pistol, and Olympic material). He explained it’s not about the athletes anymore – just politics. And for the more popular sports you had better be “Nike material” in order to be chosen for the team. America commercialism does not want to see a chick that looks like the Hulk on a box of Wheaties. Also note the women gymasts. Their mothers are WAY ABOVE rich trophy wives. And Phelps mother is well known in Colorado Springs as being and “obcessive nut case” when it comes to how her ‘little boy’ is treated. It’s not about ability and hard work. It’s ALL about how much money your momma has to re-live her youth through you. Just watch the parents (mothers) of those female gymnasts tonight. You’re gonna say “heyyyyyy…he’s right”.

    Report Post » BlasberryStrat  
  • Quasimofo
    Posted on July 31, 2012 at 10:35am

    They probably just stamp them out in China.

    Report Post »  
  • 80mesh
    Posted on July 31, 2012 at 10:13am

    you didnt earn that medal ……

    Report Post » 80mesh  
  • NDPINDNT
    Posted on July 31, 2012 at 10:11am

    Coming soon from Obama. “They didn’t just work hard and go through a lot ot get their medals, someone made it happen for them. They need to share the medals with all americans. We are all in it together.” The Obama administration will be coming after them too.
    What cheap medals for such a big world accomplishment. They deserve much more.

    Report Post »  
  • harrejp
    Posted on July 31, 2012 at 10:03am

    Someone please tell me that the “Olympian” on the medal is not a Hermaphrodite…

    Report Post »  
  • Ghandi was a Republican
    Posted on July 31, 2012 at 9:42am

    Obama will try to take credit for every Gold medal and blame Bush for anything less than bronze. that is the true worth of Olympic medals in obamaworld.

    Report Post » Ghandi was a Republican  
  • Detroit paperboy
    Posted on July 31, 2012 at 9:20am

    Cheapskates……..why would anybody want the Olympics in their city ? And come on, a celebration of socialism for the opening ceremony ? Good grief…

    Report Post »  
  • Edohiguma
    Posted on July 31, 2012 at 9:19am

    1992 the Austrian team won the silver medal in team show jumping in equestrian. One of their riders didn’t get a medal, because he was the one to be removed from the score twice. The Austrian equestrian federation gave him a silver medal modeled after the original anyway, because he was part of the team after all. That medal was more expensive than the one the team got in Barcelona.

    Of course, in case of the gold medal, a solid piece of gold would be pretty heavy. But 1%? That’s ridiculous. It’s just a hype, nothing else. A completely unjustified hype. Panem et circenses, nothing more, aimed to distract the populace from the real issues.

    Report Post » Edohiguma  
  • Displacedsoutherner
    Posted on July 31, 2012 at 9:15am

    I understand that they’re not going to give a pound of gold to each first place finisher, but 1%, $16.30, worth at today’s price seems pretty miserly.

    Check the expense accounts of IOC members and $650. is probably a ‘cheap’ lunch in London for them. I was in Atlanta when the Olympics were there in ‘96 and the finances for the whole operation were a black hole of pay-offs, insider deals and corruption that were never seriously addressed.

    The all black city government played the Race Card at every opportunity, especially when the word “Audit” was mentioned. But I digress.

    Report Post »  
  • Displacedsoutherner
    Posted on July 31, 2012 at 8:57am

    2012 Olympic medals: ‘Gold-ish’, ‘silvery’ and brass…they even screw the 3rd place finishers on the cheap one.

    The bronze medals are really brass medals since real bronze is an alloy of copper and mostly tin as opposed to “Olympic Bronze”, a marketing exec’s mix of copper, zinc and just enough tin to stretch the definition of bronze to (or past) it’s limit.

    Maybe a few less dancing National Health nurses in the opening ceremony and they could have sprung for the money to at least give the finishers what they believe they’re getting.

    Report Post »  
  • o280949
    Posted on July 31, 2012 at 8:42am

    The IOC is like the NCAA – both have three important goals – Making a lot of money, creating an impressive image, and total control!!

    Report Post »  
  • Snowleopard {gallery of cat folks}
    Posted on July 31, 2012 at 8:27am

    And so we show that the world economy is going to hades to the degree the cheapskates of the IOC are using cheap metals.

    Report Post » Snowleopard {gallery of cat folks}  
    • bpodlesnik
      Posted on July 31, 2012 at 8:48am

      I wouldn’t consider gold and silver “cheap” metals by any stretch. Did you honestly think they were going to make each gold medal a solid piece of gold? Same with the silver medal? The price to make all of the medals would be ludicrous. Especially when what should matter most is that all of your hard work and training paid off with winning first, not that you won a valuable metal.

      Report Post » bpodlesnik  
    • AJAYW
      Posted on July 31, 2012 at 9:02am

      @bpodlesnik
      Hell then they should just make them out of aluminum if thats all that matters.

      Report Post »  
    • YellowFin
      Posted on July 31, 2012 at 3:41pm

      Next Olympics they will be made of plastic. :-)

      Report Post » YellowFin  

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