Blog Categories
Search
 
Shop By Category
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Toggle Menu
Shop By Material
Gold Jewelry
Platinum Jewelry
Silver Jewelry
Diamond Jewelry
Titanium Jewelry
Cobalt Jewelry
Ceramic Jewelry
Stainless Steel Jewelry
CZ Jewelry
Shop By Price Range
 
Minimum Range Slider
Maximum Range Slider
$ to $
Apply Filter
Shop By Availability
 
Minimum Range Slider
Maximum Range Slider
Ships within 1 to 10 business days.
Apply Filter
Shop By Gender
Mens Jewelry
Womens Jewelry
Shop By Brand
Benchmark Rings
Dora Rings
Featured
On Sale
Gift Ideas
What's New
Newsletters & Offers
Subscribe to Our Newsletter and get your 10% Off Coupon Today.
Terms & conditions apply.

Facebook Icon Like Us on Facebook
Contact Now!
Customer Service
Phone
Toll Free:
1-888-223-7056
Email
Email Us
Check out with PayPal and choose Bill Me Later. Subject to credit approval. See Terms.
Jewelry Blog: Gold
Amount of Precious Metals in Olympic Medals Reviewed
Aug-08-2012

I'm excited to see all of the medals, especially the gold medals, that the U.S. is winning in the 2012 London Olympic games! All of these athletes worked so hard to earn these medals and represent their country. While watching them stand on the podium getting their medals, I can't help but wonder about the precious metals these medals actually have. Both the gold and bronze medals barely contain their namesake metals. Here's the breakdown of what the International Olympic Committee (IOC) requires for each medal:

  • Gold Medal: Must be silver gilt with at least 92.5% silver and have at least 6g of pure gold. This year's gold medal has around 93% silver, 6% copper, and 1% pure gold. The amount of gold in the medal is valued at roughly $340 today.

  • Silver Medal: Must have a similar grade silver as the first place medal. This year's medal has around 92% silver and 8% copper, which is similar to sterling silver grade jewelry which has 92.5% silver mixed with other alloys.

  • Bronze Medal: Can be left to the organizing committee. This year's medal contains around 97% copper, 3% zinc, and 0.5% tin.

Not all Olympic medals were made with these requirements.  Solid gold medals, weighing 24g, were last given to first place winners in the 1912 Stockholm games.  However, the cost per troy ounce was just under $19, which makes the cost of gold in those medals to be around $14.63, during that time.  This year's London Olympic medals cost around $700 to make.

Does this lack of precious metals mean that the gold medal is worth much less than what they represent? My cousin and I debated this issue. He thinks that it's dishonorable to give first place winners medals that only have 1% of gold because athletes that dedicate much of their lives to excelling in their sports should get a medal with even more, as if it's made with 10K or 14K gold (58.3% pure gold). While I do believe that they deserve the very best, these Olympic medals still behold an incredible amount of honor and value and symbolize the epitome of the world's best athletes. Also, with the price of gold and the cost to host the Games so high, it makes sense to make the medals this way. The Olympic emblem, intricate artistic designs, and high degree of craftsmanship immensely add to the value of the medals. No one else can earn these medals, and the general public understands their worth.

Most importantly, the smiles that spread across each athletes face when they win a gold, silver, and/or bronze medal show how much these medals mean regardless if they have a lot of precious medals. Look how much the U.S. Gymnastics team fought to get Aly Raisman a bronze medal in the individual balance beam event yesterday. Her face lit up after the team coordinators' official review fell in her favor. Or remember how hard Michael Phelps fought to earn the most Olympic medals, 22 total, in the entire history of the games. The winners are proud to win these awards regardless of what they are made of, and we will still commemorate and regard them as an invaluable award.

Posted by Dave at 11:29 AM - Link to this entry  Share this entry
< Back to Gold Archives
  • Let's Connect Here
    • Facebook
    • Instagram
    • Twitter
    • Google+
    • Pinterest
Customer Service
FAQs
Shipping
Returns
Glossary
Contact Us
About GoldenMine
About
Affiliate Program
Privacy Policy
Terms of Use
Sitemap
International Orders
Canada / Europe / Asia
flags
Jewelry Vortex, Jewelry Stores, Los Angeles, CA Amazon Payments Paypal Verified PayPal Credit for Financing Your Jewelry Purchases
Mobile Version
Copyright © 1999-2019 GoldenMine.com
Powered By Nox Enterprise Commerce

Get a
10% OFF COUPON
plus exclusive offers and more
when you sign up*


You can unsubscribe at any time with one click.Privacy Policy.
*Max $50 credit. New customers only. Terms & conditions apply.
Like Us on Facebook