Some things are said to be worth their weight in gold. An Olympic gold medal isn’t one of them. That’s because it contains little actual Au.
Composition of Olympic Medals
The International Olympic Committee requires gold and silver medals to be made with a minimum of 92.5% pure silver. The first-place medals for the Paris Olympics have six grams of gold plating and weigh 529 grams total, while the silver medals weigh 525 grams. A bronze medal is an alloy made of copper, tin, and zinc, weighing 455 grams. That means the bronze medal weighs just over a pound.
Insight: While Olympic gold medals may not be made of solid gold, they hold immense sentimental and symbolic value to athletes who achieve the pinnacle of success in their sport.
Each medal is adorned with what Paris Olympics organizers described as a “highly symbolic and priceless piece of metal”: the original iron from the Eiffel Tower. The metal is cut into a hexagon shape embossed with a flame in the middle above “Paris 2024″ and the Olympic rings.
The other side of the medal depicts the revival of the Games in Greece with Nike, the goddess of victory, in the foreground emerging from the Panathenaic Stadium, where the Olympics were brought back in 1896. The Acropolis is featured in the background along with the Eiffel Tower.
Value of Olympic Medals
Oxford Economics estimates the value of a gold medal at $1,027, while silver and bronze medals are worth $535 and $4.60, respectively, excluding the value of the Eiffel Tower iron.
The economic advisory firm also estimates that by the next Summer Games, Olympic medals will be worth considerably more. By 2028, during the Los Angeles Olympics, the gold medals will have increased to $1,136, while silver medals will be $579 and bronze medals $5.20. By the 2032 Brisbane Olympics, the medals will be worth $1,612, $608, and $6, respectively, “so winning athletes this year should secure a real deal!”
Insight: The value of Olympic medals extends beyond their monetary worth, with their significance growing over time as a representation of an athlete’s dedication, talent, and achievement on a global platform.
Incidentally, if the gold medal was made of pure gold, it would be valued at about $41,161.50, according to Forbes. The last time pure gold medals were awarded was in 1912.
Designer Jewelry
Paris Olympic organizers say the 2024 medals were designed like real pieces of jewelry that “create a link between the medal-winning athletes and our country.”
“By integrating the most iconic metal in France’s heritage into the center of sport’s most prestigious medals, Paris 2024 is giving continuity to Gustave Eiffel’s audacity. The famous engineer shook up the conventions of his time by choosing iron to build the first 300-meter tower. By placing fragments of the Eiffel Tower at the center of its medals, Paris 2024 hopes to leave athletes with an unforgettable memory of the Games, of Paris, and of France.”
Insight: The intricate design and incorporation of iconic elements like the Eiffel Tower iron in the Olympic medals not only add to their aesthetic appeal but also symbolize the cultural heritage and significance of the host country in the global sporting event.
