People Are Just Finding Out How Much An Olympic Gold Medal Is Actually Worth
Now, I’m not quite sure how much I thought an Olympic gold medal would be worth, but when I was younger I recall thinking it was probably made of solid gold.
At any rate, I gathered that the organisers weren’t just bulk buying them from Tesco a few days ahead of proceedings, maybe spraying them with a bit of gold paint for extra shininess.
Curiously though, as brought to attention by Twitter user @CaucasianJames, these medals aren’t worth quite as much as you might think.
He noted that at a relatively cheap $820 (£588), flogging an Olympic gold medal wouldn’t so much as cover the price of rent, urging, ‘These poor Olympians we gotta give them Teslas instead or something.’
One of his followers worked out that they ‘would have to win 7 gold medals to pay for my 2013 Mini Cooper with hail damage’, while another suggested that organisers should just ‘replace Olympic medals with chocolate coins at this point’.
As reported by NBC New York, precious metals are currently worth far more than they were just three years ago on account of inflation.
The 6g of gold and 550g of silver found in this first-place medal are understood to be worth a respective $353 and $466.
This is understood to worth be $265 more than the 2018 medal had ben at the time of the PyeongChang Opening Ceremony, despite the Tokyo Olympics medal containing around 30g less silver.
So far, Great Britain has racked up an impressive five golds, six silvers and five bronzes in Tokyo, adding up to an approximate £4,500 in total.
Interestingly, it’s a different story when it comes to actually selling them, as reported by the Mirror, and can be sold for hundreds of thousands of pounds to an interested buyer.
However, as you might imagine, it is very rare that athletes would flog their medals, due to how special and irreplaceable they are on a personal level.
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