The Composition and Value of Olympic Gold Medals

The Olympic gold medal, a symbol of the highest athletic achievement, surprisingly contains only a small fraction of actual gold. Weighing in at 529 grams, these prestigious awards consist of merely six grams of gold, which translates to about 1.3% of the total weight. The remainder of the medal is composed of pure silver, with the gold being merely a thin plating over the silver core. Historically, prior to the 1912 Stockholm Games, gold medals were crafted almost entirely from gold. However, following World War I, economic constraints led to a significant reduction in the gold content starting from the 1920 Antwerp Games.

In contrast, the silver medal is made entirely of silver, while the bronze medal is an alloy of copper, tin, and zinc. So, what is the current monetary value of an Olympic gold medal? According to Oxford Economics, the estimated worth of the gold medals for the upcoming Paris Olympics stands at approximately €950. This valuation aligns with the current market prices for 24k gold and sterling silver per gram.

What makes the Paris 2024 medals particularly unique is a special feature: each medal includes a piece of iron taken from the original frame of the iconic Eiffel Tower, embedded in its center and adorned with the Paris 2024 logo. These metal pieces were salvaged during various renovation and modernization projects over the years and have been preserved by the authorities.

The decision to integrate this historic element into the Olympic prize was made by a committee of athletes, chaired by the renowned French biathlon champion Martin Fourcade. The design process for the medals was carried out in collaboration with Chaumet, a prestigious French luxury jewelry and watchmaker with a rich history spanning over two centuries.

Looking to the future, Oxford Economics predicts that the value of Olympic gold medals will continue to appreciate, potentially reaching around €1,500 by the year 2032, when Australia hosts the Summer Games in Brisbane.