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Olympic Gold Medals Have Almost Zero Gold In Them

derrybderryb Posts: 36,209 ✭✭✭✭✭
in Precious Metals
From JM Bullion

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    OPAOPA Posts: 17,104 ✭✭✭✭✭
    Hardly any gold, but each U.S. gold medalist receives $25,000 for their winning efforts - which, btw is fully taxable.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    DrBusterDrBuster Posts: 5,308 ✭✭✭✭✭
    Half a kilo each? I didn't know they were that heavy until seeing this - didn't bother looking earlier.
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    piecesofmepiecesofme Posts: 6,669 ✭✭✭
    and a bag of Doritos is really not a full bag, more like half a bag, no matter what size bag of them you buy.

    Did anyone really think they were a 1/2 kilo of .999 Gold? LOL
    To forgive is to free a prisoner, and to discover that prisoner was you.
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    DrBusterDrBuster Posts: 5,308 ✭✭✭✭✭
    They've been gold plated for a good long time now, but I can't recall them being more than a few oz total.
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    perkdogperkdog Posts: 29,516 ✭✭✭✭✭
    I'm surprised to hear this, 25 taxable K? I guess the winners do market themselves for endorsements so they end up doing ok I would think.
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    Coin FinderCoin Finder Posts: 6,953 ✭✭✭✭✭
    6 grams gold over silver for the gold medals... Still winning one is very hard to do and takes years to prepare.......
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    rickoricko Posts: 98,724 ✭✭✭✭✭
    There have been two bills introduced in congress to make their cash awards tax free...neither have been passed. Would be a nice thing if they did that...Cheers, RickO
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    BBNBBN Posts: 3,761 ✭✭✭
    Originally posted by: perkdog
    I'm surprised to hear this, 25 taxable K? I guess the winners do market themselves for endorsements so they end up doing ok I would think.


    Gabby Douglas and Michael Phelps have already made millions from their success. Simone Biles is probably going to be the next millionaire olympian if she hasn't already got there. On top of being one of the most decorated gymnasts, she also has a great bio story for a book and Lifetime movie. Born to drug addicted parents, in and out of foster care and finally adopted by her grandparents where things turned around for her.

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    piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Originally posted by: thebigeng

    6 grams gold over silver for the gold medals... Still winning one is very hard to do and takes years to prepare.......




    Athletically speaking, I think it is an incredible accomplishment. To be the absolute undisputed best in the world at something has to be an incredible feeling. I respect and admire anyone who's ever won one.
    To forgive is to free a prisoner, and to discover that prisoner was you.
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    BaleyBaley Posts: 22,658 ✭✭✭✭✭
    Originally posted by: piecesofme

    and a bag of Doritos is really not a full bag, more like half a bag, no matter what size bag of them you buy.




    You're getting the net weight indicated.

    If they packed the bags full (without the extra air) the chips would get crushed into Dorito powder during shipping and handling.



    Liberty: Parent of Science & Industry

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    CakesCakes Posts: 3,465 ✭✭✭✭✭
    6 Grams is a joke for a medal that large.

    IMHO it's needs to be at least 51% gold or at least one ounce of gold.

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    cohodkcohodk Posts: 18,621 ✭✭✭✭✭
    Maybe everyone should get a plastic participation award. Then no one will feel unworthy.
    Excuses are tools of the ignorant

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    HeynowHeynow Posts: 34
    Originally posted by: ricko

    There have been two bills introduced in congress to make their cash awards tax free...neither have been passed. Would be a nice thing if they did that...Cheers, RickO




    If they make my income tax free too, then I'm for it.
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    Booger9989Booger9989 Posts: 404 ✭✭✭
    I can say this. They also get 2 medals. 1at the games and 1 for showing/displaying to the public when they go places or hold event's. I have a friend who won one for wrestling and got to see and hold his. They are neat to say the least.
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    johnny9434johnny9434 Posts: 27,512 ✭✭✭✭✭
    Originally posted by: OPA
    Hardly any gold, but each U.S. gold medalist receives $25,000 for their winning efforts - which, btw is fully taxable.


    yes, the irs has its hand out when you get home. ( maybe for all i know as soon as you hit the locker room these days )
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    derrybderryb Posts: 36,209 ✭✭✭✭✭
    Originally posted by: OPA
    Hardly any gold, but each U.S. gold medalist receives $25,000 for their winning efforts - which, btw is fully taxable.


    And to twist the knife they also get taxed on the value of the medal

    Maybe a good thing that it contains very little gold.

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    CakesCakes Posts: 3,465 ✭✭✭✭✭
    1936 Gold medal at Heritage auction

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    ghighghigh Posts: 54 ✭
    Hey! At least it's sterling silver!
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,849 ✭✭✭✭✭
    More sweat goes into the medal , than gold, in that realm.
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