To get up to speed on everything Paris 2024 Olympics, check out our Olympics hub page. We've got you covered.
For athletes around the world, winning an Olympic medal represents the pinnacle of sporting achievement. The iconic gold, silver, and bronze medals are symbols of excellence that have captivated audiences for over a century.
However, many people wonder: are these prestigious awards actually made from the precious metals they're named after? Let's delve into the fascinating history and composition of Olympic medals.
Watch this video on all the Olympians and their sporting partners. Post continues below.
Are the Olympic medals made from gold in 2024?
The short answer is no, Olympic gold medals are not made entirely of gold. In fact, they haven't been pure gold for over a century. For the upcoming 2024 Paris Olympics, the gold medals will follow the International Olympic Committee's (IOC) regulations, which stipulate that gold medals must be made of at least 92.5 per cent silver, with a minimum of 6 grams of pure gold plating.
What makes the 2024 Paris Olympic medals unique is the inclusion of a special element: each medal will feature an 18-gram hexagonal piece of iron from the Eiffel Tower. This innovative design not only adds a touch of French heritage but also symbolises the host country's iconic landmark.
Were Olympic medals ever made from gold?
Historically, Olympic medals were not always made of gold, silver, and bronze. The tradition of awarding these three types of medals began at the 1904 St. Louis Olympics. Prior to that, at the first modern Olympics in Athens in 1896, winners received silver medals and olive branches, while runners-up got bronze medals and laurel branches.
The last time Olympic gold medals were made of solid gold was in 1912 at the Stockholm Games. Since then, economic considerations have led to the current practice of gold-plating silver medals for the top prize.
What are the bronze and silver medals made from?
Unlike gold medals, silver medals are indeed made of pure silver. The IOC requires that silver medals contain a minimum of 92.5 per cent silver. Bronze medals, interestingly, are not made of bronze in the traditional sense. They are typically composed of copper (95 per cent) and zinc (5 per cent), which is technically a type of brass often referred to as "red brass".
For the 2024 Paris Olympics, all medals will incorporate the unique Eiffel Tower iron piece, regardless of their metal type.
Why are medals in gold, silver, and bronze?
The choice of gold, silver, and bronze for Olympic medals is rooted in both historical and practical considerations. These metals have been prized for millennia due to their rarity, beauty, and durability. The order of gold, silver, and bronze also corresponds to their relative rarity and value in nature.
From a chemical perspective, gold, silver, and copper (the main component of bronze medals) are found in the same column of the periodic table. This means they share similar properties that make them suitable for crafting medals. Their order on the periodic table also aligns with their abundance on Earth, with gold being the rarest and most valuable, followed by silver, and then copper.
What is the value of an Olympic gold medal?
The monetary value of an Olympic gold medal varies depending on current precious metal prices and the specific design of each Games' medals. However, it's important to note that the intrinsic value of the materials is far less than the symbolic and historical value of the medal itself.
Based on recent estimates, the gold and silver content of a gold medal is worth approximately $750 to $850. This calculation takes into account the 6 grams of gold plating and the silver core. However, the actual market value of an Olympic gold medal can be much higher. When Olympic medals are sold at auctions, they often fetch prices in the tens or even hundreds of thousands of dollars, depending on factors such as the historical significance of the event and the fame of the athlete.
It's worth noting that for the athletes who win them, Olympic medals are priceless. They represent years of dedication, hard work, and the realisation of a lifelong dream. Many athletes consider their medals to be their most prized possessions, regardless of their monetary value.
Featured image: Getty.
Do you drive a car? Complete this survey now to go in the running to win a $100 gift voucher.