unilad
Advert

People Are Just Finding Out How Much An Olympic Gold Medal Is Actually Worth

by : Julia Banim on : 29 Jul 2021 09:53
People Are Just Finding Out How Much An Olympic Gold Medal Is Actually WorthPA Images

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.

Advert

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’.

Advert

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.

Advert

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.

If you have a story you want to tell, send it to UNILAD via [email protected]

Most Read StoriesMost Read

News

Brian Laundrie: Body Discovered Has Been Confirmed To Be Missing Fugitive

Julia Banim

Jules studied English Literature with Creative Writing at Lancaster University before earning her masters in International Relations at Leiden University in The Netherlands (Hoi!). She then trained as a journalist through News Associates in Manchester. Jules has previously worked as a mental health blogger, copywriter and freelancer for various publications.

Topics: Sport, Gold, no-article-matching, Now, Olympic Games, Tokyo Olympics

Credits

James/Twitter and 2 others
  1. James/Twitter

    @CaucasianJames

  2. NBC New York

    This Year's Olympic Gold Medal Is Worth $820 (Plus Whatever You Spent to Get There)

  3. Mirror

    What Olympic medals are actually worth - and it's less than you think