According to Forbes, the current price of gold has reached record highs, contributing to the increased value of the 2024 gold medal. Despite being labeled as a gold medal, over 95% of its composition is silver. The medal weighs 529 grams, consisting of 505 grams of silver and only 6 grams of pure gold, which is used for plating. The remaining 18 grams are iron.
If the medal were made entirely of gold, its value would skyrocket to approximately $41,161.50. The last time Olympic medals were made of 100% gold was in 1912.
For comparison, the silver medal weighs 525 grams, made up of 507 grams of silver and 18 grams of iron, with a current value of about $486. The bronze medal, weighing 455 grams, contains no silver and is composed of 415.15 grams of copper, 21.85 grams of zinc, and 18 grams of iron, valued at a mere $13.
Interestingly, the iron used in the medals is sourced from the Eiffel Tower, a symbol of Paris and France, adding a unique historical significance to the medals.
All Olympic medals measure 85 millimeters in diameter and 9.2 millimeters in thickness, showcasing both the athletes’ achievements and the artistry and craftsmanship behind these prestigious awards.
