With the arrival of the Paris 2024 Olympic Games, one of the most interesting curiosities for fans and participants is the composition and value of the Olympic medals. These medals, symbols of glory and dedication, have a history and particular characteristics that make them unique. In this article, we tell you everything about the Paris 2024 medals, from the materials they are made of to their economic value.
Composition of the Paris 2024 Olympic Medals
Olympic medals, although commonly called “gold,” “silver,” and “bronze,” have a more complex composition:
Gold medals: These medals are made primarily of sterling silver (approximately 92.5% silver), with at least 6 grams of pure gold overlay. The last time solid gold medals were made was at the 1912 Olympics.
Silver Medals: Made entirely of sterling silver, these medals do not contain any other metal. The silver used in the medals is of high quality, ensuring their shine and durability.
Bronze medalls: These medals are made from an alloy of copper and zinc. Bronze is known for its strength and distinctive appearance, which makes these medals highly valued by athletes as well.
Economic Value of Olympic Medals
The value of Olympic medals can be assessed from two perspectives: the material value and the symbolic or collector’s value.
Material Value:
- The gold medal, due to its gold and silver content, can be worth between $600 and $800 USD, depending on the current price of these metals.
- The silver medal, made of sterling silver, is valued at approximately $450 to $600 USD.
- The bronze medal, composed primarily of copper, has a much lower material value, approximately between $5 and $10 USD.
Collection Value:
Olympic medals have a much higher collector value than their material value. Depending on the athlete who won it, the event and collector demand, a gold medal can fetch prices from thousands to tens of thousands of dollars at auction.
Design and Meaning of the Paris 2024 Medals
Each edition of the Olympic Games features a unique design for its medals, reflecting the culture and spirit of the host country. The Paris 2024 medals will be no exception, with the design expected to incorporate iconic elements of the city of Paris as well as symbols of the Olympic spirit and sporting excellence.
The International Olympic Committee (IOC) says each medal is inscribed with the name of the event, the Olympic logo and other design elements that celebrate unity and peace through sport. Interestingly, all of this year’s Olympic medals are also infused with a small amount of recycled iron from the Eiffel Tower’s original structure, which was replaced with new metal.
Value of a Gold Medal in the Market
According to the Nasdaq website, this year’s Olympic gold medals are worth about $1,500, with 6 grams of gold priced at $500 and 523 grams of silver valued at $550. Silver, being a more common metal than gold, is worth less. If the medals were made entirely of gold, they would be worth about $45,000, given that an ounce (28.35 grams) of gold sells for about $2,500.
The value of a gold medal can increase significantly depending on the athlete who won it, the event, and the historical circumstances. For example, one of Jesse Owens’ medals from the 1936 Berlin Olympics sold for a record-breaking $1.5 million in 2013.
The medals of the Paris 2024 Olympic Games not only represent the highest sporting achievement, but also have stories and compositions that make them unique in each edition of the Games. Although the economic value is significant, the true value of these medals lies in the effort, dedication and spirit of the athletes who win them.
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