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Winning a gold medal at the Olympics is the pinnacle of an athlete’s career. But if you’ve ever wondered if that treasured gold medal is actually made of gold, you’re not alone. Plus, if they are made of gold, how much are the medals worth? According to the NBC Olympics Page, there have been 5,084 medals created for this year’s Games, including 2,600 for the Olympics and 2,400 for the Paralympics. Quite a bit of gold, right? Well, kinda. Here’s the truth about those gold medals you’ll see at the Olympics.
So, Are the Olympic Medals Made of Real Gold?
According to the a 2018 International Olympic Committee’s Host Contract, gold medals “shall be gilded with at least 6g of pure gold.” Typically, these medals are comprised of at least 92.5 percent silver, with the gold component making up only the plating on the outside, per New York Times reporting. However, the silver medals are pure silver, while bronze is made up of red brass (95% copper and 5% zinc), according to the Olympics website’s reporting on the 2020 Olympics.
The 2024 Olympics medals are expected to follow similar guidelines, but there’s a special piece of Paris in each one: a part of the Eiffel Tower. According to the NBC Olympics page each medal, designed by LVMH Group company, Chaumet, will include 18 grams (0.04 pounds) of iron taken from Eiffel Tower renovation scraps. One gold medal weighs 529 grams, silver weighs 525 grams, and bronze comes in at 455 grams.
How Much Are the Gold Medals Worth?
According to NBC Sports, the gold medals are worth approximately $750 to $850 dollars. A silver medal may be worth around $450, while bronze is only worth $5, per CNN. Though the integration of those Eiffel Tower pieces may increase their worth. That said, winning an Olympics medal is priceless and their monetary value doesn’t come close to the merit that Olympians and Paralympians deserve for their incredible athletic feats.
— Additional reporting by Alexis Jones
Amanda Prahl is a freelance writer, playwright/lyricist, dramaturg, teacher, and copywriter/editor. Amanda has also contributed to Slate, Bustle, Mic, The Mary Sue, and others.
Alexis Jones is the senior health and fitness editor at PS. Her passions and areas of expertise include women’s health and fitness, mental health, racial and ethnic disparities in healthcare, and chronic conditions. Prior to joining PS, she was the senior editor at Health magazine. Her other bylines can be found at Women’s Health, Prevention, Marie Claire, and more.