Ground Report | New Delhi: What is the real value of an Olympic medal; Athletes work hard, sweat and shed tears, and make many sacrifices to win medals in the Olympics. But in the end, after winning the medal, for a moment they must be wondering what the real value of this precious metal medal is. The answer is interesting, but not what you think.
Some people also wonder if Olympic gold medals are really made of gold. The design and texture of the medal are different each time during the Olympics. The medals awarded to the winning athletes at the Tokyo Olympics are actually made from recycled materials. The people of Japan donated a number of electronic products to make Olympic medals.
What is the real value of an Olympic medal
But they still contain precious metals. Is the Gold Medal Really Made of Gold? The answer is no. At least 92.5% silver is used in the preparation of Olympic gold medals. But it must contain at least six grams of gold.
According to an expert, the gold medal offered at the Olympic Games is around 540 pounds (US 7 750). This money may be too much for an ordinary person. But for many athletes who have spent a lot of time, effort, and money in their lives to succeed in these sports, this amount may not be much.
Richard Gladell of Baldwin’s Auctions says it’s an apparent price, as the metal in a coin. The basis of this price is the metal in the medal. If the silver in the silver medal is melted down, it is worth 297 pounds. The bronze medal is made of a mixture of copper and zinc. It costs less than five pounds.
But this apparent value does not include the medal itself. Of course, for a winning Olympian, the seemingly small amount of a medal would mean nothing. An athlete who is proud of his achievement has sealed his victory in the history books and these medals testify to that.
Until 1912, Olympic medals made of pure gold
In the past, until 1912, Olympic medals were actually made of pure gold. But after the First World War, countries started plating gold on silver medals. In most of the pictures, the winning athletes are seen chewing the gold medal with their teeth. This is because gold is softer than other metals. So it was chewed to confirm the authentic gold.
In the wake of this tradition, Tokyo 2020 organizers have repeatedly jokingly reminded players that the metal is “not for eating.” But the real value of medals comes when they are auctioned off. Olympic medals are not usually sold, but sometimes people sell them at auction for millions of pounds. Gladell says the price of a medal in an auction also depends on the winning athlete. He says people not only want to own an Olympic gold medal, but they are also more interested in the symbol of their Olympic hero.