Olympic Medals

ajman

What are the Olympic gold, silver and bronze medals worth? I've read that the gold medals are silver with 6 grams of gold plating, the silver medals are obviously silver, but what is the breakdown of bronze?

RedSoxinNYC

Ajman, here's some info regarding your question:

According to the Olympic Charter, the gold and silver medals must each be made of at least 92.5 percent pure silver and the gold medal must be gilded with at least six grams of gold.

The price of gold changes daily. Assuming there's six grams of gold in each medal, each one would be worth about $500 at 2010 prices.

The remainder of the gold medal is made out of silver. The price of silver also fluctuates, but at an average of $14.50 per troy ounce, the remaining silver in the gold medal hovers around $60.

However, the rarity of an Olympic gold medal means that its actual value far exceeds the value of the metal required to make it. For example, in 2005 Olympic gold medal winning swimmer Otylia Jedrzejczak auctioned off her Olympic gold to raise money for a Polish children's hospital, the medal sold for $101,500.

Additional facts: The Beijing 2008 medals also include Jade for the first time, which could impact the value. The 2010 Vancouver medals are the largest in Vancouver history, weighing at about a pound each.

Weiss

Six grams is worth $500? I didn't know spot hit $2600 an ounce recently.

ajman

I estimated it at around $214 for the 6 grams based on $1107 spot.

gsa1fan

I been wondering how much gold was in them big ole' medals. Thanks, for the information.

From what a few of the winners are getting paid by endorsing company's. The medals can be worth millions!