At the 2024 Paris Olympics, athletes are striving for gold, but the actual value of these medals might surprise you.
While the glory of winning a gold medal is priceless, its material worth is a different story.
Pakistani javelin thrower Arshad Nadeem recently clinched a gold medal, marking Pakistan’s first Olympic gold in 40 years. But how much gold is actually in an Olympic gold medal?
According to Forbes, the gold medals for the Paris 2024 Olympics weigh 529 grams, but only 6 grams of this is pure gold.
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Moreover, the bulk of the medal is made of 95.4% (505 grams) silver and 18 grams of iron. Based on the prices of gold, silver, and iron as of July 24, the medal is valued at approximately $950. If the medals were made entirely of gold, they would be worth around $41,000—a value that reflects the rising price of gold. The last time gold medals were made entirely of gold was in the 1912 Olympics.
In addition, the Paris 2024 gold medals are the most expensive in modern Olympic history, surpassing the $708 value of the 2012 London Olympics medals.
Additionally, the Paris medals feature a unique element: a hexagonal piece of iron embedded in the center.
Furthermore, this 18-gram piece is not just any iron but comes from the famous Eiffel Tower, salvaged during its 20th-century repairs. Thus, the most valuable part of the Paris 2024 medals might just be this historical fragment.
