How Much is a Gold Medal Really Worth?

by Rigel Celeste (RSS feed)
Mar 2nd 2010 at 7:01AM

The 2010 Winter Olympics are over, with the final United States medal count coming in at 9 Gold, 15 Silver, and 13 Bronze. That's a total of 37 medals making their way back here to the States in the hands of our worthy athletes, and although the sentimental value is truly immeasurable one can't help but wonder: just how much are those medals actually worth?

Here's how it breaks down: a gold medal is made of 550 grams of silver covered with 6 grams of gold, a silver medal is made of 41 grams of copper and 509 grams of silver, and a bronze medal is made of a mix of mostly copper with some tin and zinc. This means that in today's market a gold medal is worth approx $494, a silver medal $260, and a bronze medal just $3.

Interesting to know (I thought the gold medal would be worth more).

Tags: 2010 winter olympics, 2010WinterOlympics, bronze, gold, gold medal, GoldMedal, medals, olympics, silver

Filed under: Jewelry

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Reader Comments (Page 2 of 6)

Suzanne Mar 3rd 2010 11:15AM

@Cooper,

Cooper, your reading comprehension leaves much to be desired. There was nothing causal about my statement...I didn't write that BECAUSE you didn't agree with the design, you must not be an Olympic athlete. My point was, that the unique aesthetics of the medal, which were born out of respect for nature and the beautiful land of Vancouver, would likely be appreciated by the Olympic athletes (which you are not). In the end, your opinion really doesn't matter...it isn't like you have one hanging in your closet to glare at, and I'm sure that the Olympians who medaled are quite proud of theirs! As many have mentioned on this thread, it is what the medals represent (and not their size, shape or color) that make them priceless.

Cooper Mar 3rd 2010 1:03PM

@Suzanne: Actually, here's what you wrote: " I would think that the Winter Olympic athletes would appreciate that attention to detail, but obviously you are not an Olympic athlete, so the meaning is lost on you."

The causal relationship is pretty clear whether you intended it to be or not: I'm "obviously" not an Olympic athlete, SO the meaning [of the medals' shape] is lost on me.

Not sure quite what I've said so far that makes my Olympic team status so obvious to you, but whatever. I don't see how that affects my appreciation for art or even for the geographic area where the games happened to be held. I loved Vancouver even before anyone dreamed they'd be hosting the Olympics this year. The shape of this year's Olympic medals neither increases my appreciation of Vancouver nor reminds me of Vancouver's abounding natural beauty.

You've made the rather rash assumption that I'm not an Olympic athlete twice now - but, since you know nothing about me, you're just guessing. Let me put your mind at ease. I agree that it wouldn't matter if Olympic medals were made of plastic and looked like broccoli spears - they are priceless to the winners. I know this not because I have an Olympic medal but because I have the hockey puck that I shot into the net during the game of my hockey career - and I wouldn't trade it for two Olympic golds.

I stand by my original point (which Suzanne didn't like so she tried to turn this into a subtle personal attack): I think both the 2010 and 2006 Winter Games medals were somewhat unattractive and I wish the IOC would come up with a more dignified design which would remain relatively unchanged from year to year.

Suzanne Mar 3rd 2010 1:21PM

@ Cooper

Your MO on this thread is hysterical. You are accusing me of personal attacks, when all that I originally did was provide a link providing information about why the medals might be interpreted as something other than "rapper bling."

You then made a rather bizarre inference about me connecting you to an Olympic athlete through my comment, which is ridiculous. The word "but," is not synonymous with "because," by the way. Reread the post and rethink how you addressed it.

Now you are ranting about your own achievements in hockey, maintaining that you would prefer your hockey puck to any medal. You obviously have missed my entire point. Criticizing the "ugly medals" would be like me criticizing your hockey puck. I would never do it. It means something to you, just as these medals mean something to the athletes that earned them. I simply do not understand your virtriolic approach to this thread. Did you not make the cut with the hockey team or something? You are taking this waaaayyyyy too seriously.

Curt Horne Mar 2nd 2010 10:52AM

To those who earned them, they are priceless.

Suzanne Mar 3rd 2010 10:07PM

Well said, Curt!

ajackson7738 Mar 2nd 2010 11:06AM

How sad and pitiful!!! These folks train all of their lives, giving up careers to become Olympians. They could at least give them pure medals. The gold, silver and bronze should be made of pure metals, not this imitation crap!! They make bundles on these Olympics and should share with the athletes that make it possible. What a disgrace!!!!!

Jim Robertson Mar 2nd 2010 1:29PM

Lots of comments about the value of the medals but I believe for those who win them they are priceless and the recipient could care less of intrinsic value because I doubt very much that you will see one for sale at any price. If they are inherited and sold then who cares what the people who sell them realize? Not me. As far as design goes, I dont believe again that the recipient gives a darn, do you?

Margaret Mar 2nd 2010 2:47PM

I AGREE 100%

Joe Papp Mar 2nd 2010 11:26AM

Nobel Prize medals are PURE gold.

One of the insitutes which had several on display in Denmark, had a problem.

The Nazis were coming! So a well known figure in Physics went to the chemistry area, got some "aqua regia" and dissolved the metals. Put the liquids in large glass jars, with some bogus label on them.

After the war, the Gold was precipitated out. Sent back to Sweden and recast into the medals again. The "Krauts" never figured it out!

Mark

WakeUp Mar 2nd 2010 11:36AM

Wonder if they have to declare them at customs? Would suck for the guys that won 3 or 4 as they may be within the range to have to pay duties (except for those bronze guys, what a kick in th teeth, come in 3rd and your medal only costs $3 bucks - it's like getting something from the dollar store)
I understand not making pure metal metals, but jeez if I train for years upon years I want something I could at least hock if needed.

jackda0322 Mar 2nd 2010 12:01PM

With all the hoopla and money spent on an Olympic Village and courses (and earned) from Olympic sponsors and such, it's a outright insult not to give the atheletes who made it all possible anything except solid medal in their medals. It's just another example of the rich and powerful taking advantage - stinginess and greed at it best.

McGilacudi Mar 2nd 2010 12:42PM

I know that the medals given out now by the Olympic Committe are plated and in the case of the bronze metal a mixure of copper, tin and zinc. But at one time I believe that medals awarded to first and second place finishers were made of solid gold and solid silver. Does anyone know when the change was made to the less costly plated version.

billie haddix Mar 2nd 2010 2:10PM

When The committee became corrupt, and greedy, and-or more political.

Sara Mar 2nd 2010 8:04PM

Last solid gold medals were given during the 1912 games. See link below for more interesting facts. Sara

http://history1900s.about.com/od/greateventsofthecentury/a/olympicfacts.htm

James Mar 2nd 2010 12:42PM

Hey morons, the Heisman trophy is made of bronze (ie, does not cost much to produce) but is worth millions. Get it?

billie haddix Mar 2nd 2010 2:11PM

James, please don,t refer to people as: Morons. The point of being awarded a gold--silver--bronz is thats what the award should be. It is the principal of the thing. But, realistically, what/where are principals in today's society?
Thanks

cande70844 Mar 2nd 2010 1:00PM

Why even come up showing their value. It is the fact that they were the best at their sport. It takes someone that can not even compete to come around saying it is worth this amount? They are worth more than you can put a price on.... I say to you who come questioning the value to go win one and see just what it takes.. The sentimental value of a Olympic metal is something that nobody can ever put a price one. So please leave it alone.. Now the real question to it's value... Endorcements!!!!! How much is it worth?? I guess now the people that put the prices on the internet should follow everyone of the medal winners and see just how much it means in real money that they will make from the endorcemants. Thats it it's true value along with the fact that each of the winners were the best at their sport.

ajackson7738 Mar 2nd 2010 2:56PM

Again for you folks that just seem to have missed the article. It was about the monetary value of the Olympic Medals. All of the athletes that got medals don't necessarily get the big endorsements. So go back and READ, it was about the monetary value and that's what some of us that read the article were commenting on.

debgarrity Mar 2nd 2010 1:08PM

What is even more interesting to me would be to know how much it cost to get a gold medal -- or any color. What did Lindsey Vonn's parents spend in all of her racing years on lift tickets, season passes, coaching, training, clothing, equipment, race entry fees, travel, etc. As the mom of an elite athlete, let me tell you - it ain't cheap! Even when they get to the level where equipment manufacturers start giving you gear, it is still A LOT of gold going out the pockets of parents.

larrystars Mar 2nd 2010 1:20PM

It is totally disgusting to see that the medals are relatively worthless in value! Each venue spends millions if not billions to host the games. Most of these athletes devote the majority of their life to represent their countries and be the best that they can be. They are the reason everyone watches. They should ALWAYS make gold medals out of 90% gold regardless of the cost. Silver should be silver, and bronze bronze. What the hell is wrong with our system to do this?
RIDICULOUS.

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