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Gold is trading at $59.75 per gram, so the 6-ounce gilding on the first-place medal is worth $358.50. Added to the $418 worth of silver underneath, an Olympic gold medal is worth $776.50. Worth ...
Each medal weighed 455–529 g (16–19 oz), had a diameter of 85 mm (3.3 in) and was 9.2 mm (0.36 in) thick. [21] The gold medals were made with 98.8 percent silver and 1.13 percent gold, while the bronze medals were made up with copper, zinc, and tin. [22]
First place (the gold medal): It is composed at least 92.5% of silver, plated with 6 grams of gold; the metal value was about US$494 in 2010. [19] [20] At the 2020 Summer Olympics held in 2021 in Tokyo, Japan, the medal at then-current prices was worth about $800. [21]
The last series of Olympic medals to be made of solid gold were awarded at the 1912 Summer Olympics in Stockholm, Sweden. Olympic gold medals are required to be made from at least 92.5% silver, and must contain a minimum of 6 grams of gold. [6] All Olympic medals must be at least 70mm in diameter and 3mm thick. [7]
“The value of a gold medal depends on the current market prices of silver and gold,” Stone explained. “Presently, 1 gram of gold is valued at $74.94, while 1 gram of silver is priced at $0.73.
With the current price of gold, this makes the top prize at most Olympic games worth only about $600, as compared to more than $20,000 for the solid gold medals of the past.
A possible source of confusion is that gold is often priced on the open market in the more traditional troy ounce (one troy ounce is exactly 31.1034768 grams, which is larger than the avoirdupois ounce generally in use in the United States and has a mass of 28.35 grams). Kilogram gold prices are commonly used by the Zurich Gold Pool where 1,000 ...
A troy ounce (abbreviated oz t) is equal to 480 grains. Consequently, the international troy ounce is equal to exactly 31.1034768 grams. There are 12 troy ounces in the now obsolete troy pound. Today, the troy ounce is used only to express the mass of precious metals such as gold, platinum, palladium, rhodium or silver.