How Much are Olympic Gold Medals Worth?

How Much are Olympic Gold Medals Worth?


How Much are Olympic Gold medals Worth? As far as the value of the raw materials in
them, this varies from Olympiad to Olympiad. For the recent 2012 Olympics in London, the
medals were the largest of any in Summer Olympic history up to that point, weighing in at 400g
for the gold medal. Of this 400g, 394g was sterling silver (364.45g
silver / 29.55g copper) with 6g of 24 karat gold plating. At the price of gold and silver when these
medals were won by various Olympians, this means a gold medal in the London Olympics
was worth about $624, with $304 of the value coming from the gold plating and about $320
coming from the sterling silver. Since then, the price of gold has dropped
about 18% and the price of silver has dropped about 39%. How Much are Olympic Gold medals Worth? As far as the value of the raw materials in
them, this varies from Olympiad to Olympiad. For the recent 2012 Olympics in London, the
medals were the largest of any in Summer Olympic history up to that point, weighing in at 400g
for the gold medal. Of this 400g, 394g was sterling silver (364.45g silver / 29.55g copper)
with 6g of 24 karat gold plating. At the price of gold and silver when these medals were
won by various Olympians, this means a gold medal in the London Olympics was worth about
$624, with $304 of the value coming from the gold plating and about $320 coming from the
sterling silver. Since then, the price of gold has dropped about 18% and the price of
silver has dropped about 39%. For the current 2016 Rio Olympics, the gold
medals are one-upping the London Games, weighing in at a a half a kilogram, with about 462g
of it silver, 6g gold, and the rest copper. So by current gold and silver prices as of
July 13, 2016, these medals are worth about $561 total, with approximately $301 of the
value from silver and $260 from gold. So, despite being 1/5 more massive than the London
Games Olympics medals, and having the same amount of gold and much more silver, due to
the significant drop in gold and silver prices since 2012, the Rio gold medals are worth
less at their awarding than the London Games medals were worth when they were awarded. Of course, athletes can often get much more
than this selling the medals on the open market, particularly for momentous medals, like the
“Miracle on Ice” 1980 men’s U.S. hockey team gold medal. Mark Wells, a member of that
team, auctioned his medal off in 2012 and received $310,700 for it, which he needed
to help pay for medical treatment. Most auctioned medals don’t go for nearly
this much, though. For instance, Anthony Ervin’s 50 meter freestyle gold medal won in 2000,
even with all proceeds going to the victims of the Indian Ocean tsunami, only sold for
$17,100. John Konrads’ 1500 meter freestyle gold medal won in 1960 only sold for $11,250
in 2011. This is a great return in terms of what the raw value of the materials are worth,
but certainly nowhere close to Mark Wells’ medal. Gold medals in the Olympics weren’t always
made mostly of silver. Before the 1912 Olympics, they were made of solid gold. However, they
tended to be much smaller than modern medals. For instance, the 1900 Paris gold medals were
only 3.2 mm thick, with a 59 mm diameter, weighing just 53g. For perspective, the London
2012 medals were 7 mm thick, with a diameter of 85 mm and, as mentioned, weighed 400g.
The 1900 Paris gold medals at today’s value of gold are worth about $2300. For the 1912
games in Stockholm, the last year the gold medals were made of solid gold, the value
of the gold medals at current prices of gold would be around $870. If the current 2016 Olympic gold medals were
made out of solid gold, they’d be worth about $21,625 each. This may seem feasible,
considering how much money the Olympics brings in, until you consider just how many medals
are awarded during each summer Olympics. For instance, in these 2016 Olympics, about 2,488
medals have been produced, including 812 gold medals. At $21,625 each, that would be just
shy of $18 million dollars for the gold medal materials alone. As it is, with the current gold medals having
about $561 worth of materials, then $305 for the silver medals, and about $5 for the bronze
(which are mostly made of copper, with a very small amount of zinc and tin), about $708,000
is still being spent on the raw materials alone for these medals, not to mention the
cost of having them minted.

83 Replies to “How Much are Olympic Gold Medals Worth?”

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  2. I like your videos, but it will be nicer if you display the number as text in your video.
    English is not my first language and it's so hard to hear and figuring out currency or large number 😐

  3. There's 800 gold medals?! That's alot

    But then again, I'm thinking 800 gold medals = 800 different sports? Which isn't right lol.. LIke the basketball team would all get a gold medal right? yeaaaa and that's like how many people on one team? like 100 right there lol

  4. first i was like "they could make the big gold metals all gold, they'd be too heavy" but then i was like, "oh yeah, they're for actual super heroes, i think they're ok"

  5. What a total rip off! These athletes work very hard for 4 YEARS culminating in a moment of glory to represent their country on the global stage! The gold medals should be completely made from 24-carat solid gold! The silver ones should be 100% sterling silver, and the bronze ones fully bronze.

  6. Why a city would want the olympics? In the long run they loose money. From building all the facilities to security it costs millions. Some may come out ok but there is the up keep. I say we build a great Olympic facility in Greece where they started. Greece holds them every Olympics and that ends their leaching off th me rest of the world

  7. What I think is stupid is that these athletes are representing their Country, and they have to pay taxes on what the medal is worth. To me that is just wrong. I understand completely them paying taxes on their winnings, but come on the medals! The Country gets the bragging rights to the Medals. Just my opinion.

  8. These are elite athletes that deserve real gold, silver, and bronze medals the Olympics are so cheesy and stingy with there medals the host nation should be required to provide these real medals in order to qualify to host the games.

  9. Look, I gotta get it authenticated, then I gotta put it in a nice display box. Then it might sit on my display for a year or more. See, I have a fancy store but people don't come into my shop asking for Olympic medals most days. I'll give you $150

  10. According to what I have read earlier, the only time solid gold medals were ever given out in the Olympics where in 1912.
    Though, I might be wrong about that though.

  11. I mean if a person wins a first place,they should give the person full gold medal(14kt,18kt)not just few grams!

  12. Superstar of the 1972 Olympics, Soviet Olga Korbut sold two of her medals this winter.for 333,500$. She revolutionized the sport of gymnastics from ballet with simple liips to complex routines & acrobatics taking the forefront.

  13. The real value of the medals is in the product endorsements, speaking fees, promotional contracts and the like.

  14. An Olympic champion having to auction his gold medal to pay for medical treatment? That sounds wrong. Then again, no one should go through dire straits because of health problems, regardless of their social status…

  15. Question:
    Is it really safe to jump of a moving automobile like they do in Hollywood movies when it's almost about to crash/explode or when an evil villain tosses someone out, except in real life it may be out of necessity in an emergency situation like when one's brake pedal completely malfunctions & the car is about to shoot off a cliff? And if so, is there a certain speed limit under which chances of survival is guaranteed? And also what is the safest way to do it, like sideways, facing forward/backward or brace in a fetal position? Tks & great job as always, TIFO!

  16. Should've at least mentioned the fact that the winners get like 25 thousand dollars in prize money, for all the ppl that don't know that.

  17. REAL gold medals are feasible just compare with the MANY billions that shit costs 80 mil is pocket change

  18. that figure for how much it would cost to make all gold medals solid gold is still a drop in the bucket compared to the sheer cost and spending of each of the more recent Olympics, Brazil was reported to have spent as much as 30 billion dollars on the summer Olympics, making the cost of possible "solid" gold medals about 0.06% of the total cost of the Olympics.

  19. FUCK YOU RETARDED! I SEE YOUR FACE in SEC 1 AND FAST FORWARD TO THE END AND THERE I SAW THE COSTS, I SAVE 4 MINUTES OF MY LIFE DONT HEARING YOUR BULLSHIT! NICE

  20. So gold medals are mixture of silver and gold, wow. I thought gold means gold and no bullshit…this is not fair tbh lol

  21. how are you going to make this type of video and not mention what the silver is made out of? I'm now wondering if it's pure silver

  22. 400 g= 12.9 (or 12 7/8) oz.t.
    394 g= 12.7 (or 12 5/8) oz.t.
    364.45 g= 11 oz.t. 344 gr.
    29.55g= 456.0 gr.
    6.00 g= 92.6 gr.
    500 g= 16.1 (or 16 1/8) oz.t.
    462 g= 14.9 (or 14 7/8) oz.t.
    50.0 m= 164 ft.
    1500 m= 1,640 yd.
    3.2 mm= 1/8 in.
    59 mm= 2 5/16 in.
    53.0 g= 1.70 oz.t.
    7.0 mm= 9/32 in.
    85 mm= 3 11/32 in.

    There. That was totally unnecessary and just a little bit of fun. 🙂

  23. I hardly have ever met any other Simons in my life but its supposedly way up in the top 50 popular names in the world, like legit I have never had anybody in my associate "group" named simon and have only ever heard of others through media, any simons here? Like I literally see Xander way more and know 3 of them personally

  24. Looking for more fun fact videos? Then check out this video and find out Why Coupons Sometimes Say They are Worth a Fraction of a Penny:
    https://www.youtube.com/watch?v=MM2rWcAlMYs

  25. The true value comes from the event and the athlete who performed in winning the medal. Hence a Phelps or Bolt medal being of same material but higher overall value to market

  26. That’s if you count it by the metal, but it has like a sentimental value cause it’s an Olympic medal just like the queens crown would be worth more than the same crown with the same metal and gems cause it was worn by the queen

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