A recent study conducted by a research institution has found that the cost of the gold medal awarded to athletes at the Paris Olympics is approximately $1,027.
According to Oxford Economics, the cost of the gold medal, excluding the centerpiece crafted from a section of the Eiffel Tower, is $1,027. This valuation reflects current market prices for 24K pure gold and silver.
This year’s Olympic gold medal weighs 529 grams, with only 6 grams, about 1.3% of the total, made of pure gold. The remaining 523 grams consist of pure silver.
The center of the medal features a segment of the Eiffel Tower, symbolizing France. During the past modernization of the Eiffel Tower, a section was dismantled and preserved. This fragment was meticulously shaped into a hexagon, engraved with the Olympic logo, and integrated into the medal design.
According to Oxford Economics, gold medals were made entirely of gold until the 1912 Stockholm Olympics. However, the proportion of gold in these medals decreased after World War I.
The price of the silver medal, made entirely of silver, is $535. It weighs 525 grams, 4 grams less than the gold medal. The bronze medal weighs 455 grams but is composed of copper, tin, and zinc, giving it a value of only $4.6.
The prices of medals are expected to rise over time.
The price of a gold medal is projected to increase to $1,136 by the time the Los Angeles Olympics are held in 2028 and to $1,612 by the time the Brisbane Olympics are held in 2032.