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“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.
When the modern Olympic Games began in 1896 medals started to be given to successful olympian competitors. However, gold medals were not awarded at the inaugural Olympics in 1896 in Athens, Greece. [6] The winners were instead given a silver medal and an olive branch, [7] whilst runners-up received a laurel branch and a copper or bronze medal. [8]
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]
Before August 1, 2024 values were USD 100.000 (gold), USD 80.000 (silver) y USD 60.000 (bronze) [citation needed] Estonia: $117,500 $82,250 $52,000 €100,000, €70,000 and €45,000, for gold, silver and bronze, respectively. Prize money is doubled in the case a medal is won by a team of four or more individuals. [10] Finland: $59,342 $35,605
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.
Olympic medals and diplomas are awarded to the highest-finishing competitors in each event at the Olympic Games. The medals are made of gold-plated silver (for the gold medals), silver, or bronze, and are awarded to the top three finishers in a particular event. Each medal for an Olympiad has a common design, decided upon by the organizers for ...
Sports events have a well-established convention (introduced into the Olympic tradition at the 1904 Summer Olympics), of a hierarchy of medals: bronze medal • silver medal • gold medal. This presumably echoes conventional coinage systems, in which cheap bronze or copper denominations could aggregate to intermediate silver coins, then to ...
Traditionally, Olympic coins are numismatic coins. [1] However, several host countries minted so many coins – particularly silver ones – that their value has become just slightly above the value of their metal content. Coins for the 1976 Montreal, 1984 Los Angeles, and 1988 Seoul are generally considered to fall into that category.