Tuesday, 16 August 2016

You won't believe what the Olympic gold medal is worth

They work and train all hours of the day, striving to become the best in the world at what they do and it’s all worth it once that medal is around your neck. Sentimentally, it’s absolutely priceless. But what if we just treated it for what a gold medal really was? A hunk of metal. How much would this be worth? Well, not as much as you think.
It appears we’ve been lied to all this time and a gold medal isn’t entirely gold.

The practice of awarding all-gold medals to winners was abandoned after the Olympics in Stockholm back in 1912, which makes sense considering it would require more than £16,000 ($21,000) worth of metal by today’s current gold market.

Nowadays, gold medals are almost entirely made of a silver and copper alloy and are only 1 per cent gold. Outrageous.

NBC did the math and based on scrap value for gold and silver, the 494 grams of silver and six grams of gold only comes in at £454 ($587).

This means even if the most decorated Olympian of all time, Michael Phelps, sold his entire collection of 23 gold medals, he’d only net a measly £10,000 ($13,000) in return.

Don’t know about you but I’d definitely rather have them sitting on the mantelpiece at home than flogging one for the value of a flat-screen TV.


  1. This is what is consist of;
    1. Gold:$600(The gold medal consist of just 1% of actual gold, 92.5% silver and 6.16% copper).
    2. Silver: $325(While in silver medal, the gold is replaced by more copper rest material is the same like gold medal)
    3. Bronze: $3(Bronze medal however is 97% copper and 2.5% zinc and 0.5% tin)

  2. People the Olympics is not only about the medals, it's about the glory and ability to set a record with your name on it. To me that surpasses ant medal. For example Bolt'spam world record or Phelps record remain the best until broken by someone else that's the value. And also just the fact that they were they and u and I sat and watched in TV thats glorious too, way more precious than the reward.
    Moreover the country you represent pays you for each medal. As I know the United States pays $10,000 for anyone who receives a gold medal representing the US


  3. Singapore, Gold, $1 million (US $757,000)silver, $370,000 .bronze, $189,000 .
    Malaysia, A solid gold bar worth (around$600,000) silver .$300,000.Bronze, $150,000.
    Azerbaijan, Gold $510,000.Silver. $255,000.Bronze, $130,000
    Kazakhstan, Gold $250,000.Silver $150,000.Bronze, $75,000.
    Thailand ,Gold ,$314,000 (over 20 years period)
    Philippines, Gold $237,000 (over 20 years period).
    Kyrgyzstan, Gold $200,000
    Latvia, Gold $190,000
    Italy Gold , $189,800. Silver, $95,000 bronze, $50,000.
    Uzbekistan, Gold. $150,000
    Belarus, Gold $150,000.
    Ukraine , Gold $150,000.
    Russia, Gold $180,000, silver $90,000, bronze, $45,000.
    Australia, $126,000
    Tajikistan, $63,000
    France, $65,000
    China $31,400.
    USA $25,000
    Germany $19,500
    United Kingdom,
    no cash prized awarded by Britain’s Olympic Committee.
    Almost all the countries award cash prized to medalist in some form

  4. In addition to that they get big signings and endorsements from huge companies and are paid huge sums for commercials. It's more than just gold silver and bronze. Athletes even get awarded millions of flyer miles. I will at least go and have fun than sit on a couch

  5. This is total madness .then a country will be spending millions of dollars on athletes to go for Olympics. Bullshit