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“The value of a gold medal depends on the current market prices of silver and gold,” Stone explained. “Presently, 1 gram of gold is valued at $74.94, while 1 gram of silver is priced at $0.73.
Gold is trading at $59.75 per gram, so the 6-ounce gilding on the first-place medal is worth $358.50. Added to the $418 worth of silver underneath, an Olympic gold medal is worth $776.50. Worth ...
With the current price of gold, this makes the top prize at most Olympic games worth only about $600, as compared to more than $20,000 for the solid gold medals of the past.
The International Olympic Committee (IOC) has retroactively assigned gold, silver and bronze medals to the three best-placed athletes in each event of the 1896 and 1900 Games. [ 16 ] [ 15 ] If there is a tie for any of the top three places all competitors are entitled to receive the appropriate medal according to IOC rules. [ 17 ]
English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
Gold Silver Bronze Note Ref. Australia: $20,000 $18,000 $10,000 [1] Austria: $21,986 $15,390 2021: As a reward for their achievements, the gold medal winners receive Philharmonic coins worth €17,000. Silver medalists received €13,000, bronze medalists received €11,000 each.