Olympic gold medals only 1.34% gold

derryb

Austerity At The Olympics

"The 2012 gold is 92.5 percent silver, 6.16 copper and... 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500."

NumbersUsacom

Thats what you get with Government affiliated anything. You get that ripped off feeling.
lots and lots of sweat and what do I get, a fake Gold Piece.

Those private industry advertising contracts, now theyr'e worth some Gold. Then again the key word is Private enterprise.

R up 5+

silverman68

Just imagine a 500+ gram solid gold metal. I would be foolish to produce something that valuable since they would more than likely be sold.

vibr0nic

The notion of austerity with regard to this entire subject is horribly misleading. (I blame the zerohedge author, not you derryb)

Gold medals at the Olympics haven't been gold for 100 years - the last one was given out in 1912.(source)

LochNESS

LochNESS

<< <i>Those private industry advertising contracts, now theyr'e worth some Gold. Then again the key word is Private enterprise. >>



Two things. First, with the endorsement dollars our athletes receive, they can commission a one-off 100% Au copy of the medal ... I don't feel bad for them ... the immortality and respect they gain from winning a medal far outweighs the value of the gold content ...

Second, what did

<< <i>R up 5+ >>

mean? Forum slang or inside joke???

PerryHall

With paid advertising endorsements, many of those gold plated metals are worth far more than their weight in gold.

derryb

<< <i>The notion of austerity with regard to this entire subject is horribly misleading. (I blame the zerohedge author, not you derryb)

Gold medals at the Olympics haven't been gold for 100 years - the last one was given out in 1912.(source) >>


The author's reference to austerity (reduction in personal benefit from one's effort) is a fitting reference to the reduction of gold content in the awarded medal over the years. Olympic gold medals still contain gold, but the percentage has been whittled away to the current 1.34%.

nibanny

Malaysia's badminton team has the chance to get real gold!

In challenging Malaysia's six-strong badminton team with the offer of a 12.5 kilogramme (27.5-pound) gold bar worth 2 million ringgit ($630,000), Kam said, "I can produce gold, I believe they too can produce gold".