By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. August 10, 2024. Article no 1162.

Olympic gold medals are not made entirely of gold. According to the regulations set by the International Olympic Committee (IOC), they must consist of at least 92.5% silver and are plated with approximately 6 grams of pure gold.

For the Paris 2024 Olympics, the medals weigh around 529 grams in total, with 505 grams being silver and the remaining weight being the gold plating. The silver medals weigh 525 grams.

The value of these medals, based on current market prices for gold and silver, is estimated to be around $750 to $950, depending on fluctuations in metal prices. This includes approximately $350 worth of gold and $400 worth of silver.

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Additionally, the Paris medals feature pieces of iron from the Eiffel Tower, adding a unique historical element to their design.

The composition of Olympic medals has evolved significantly over the years. Initially, at the 1896 Athens Games, winners received silver medals, while runners-up received bronze or copper medals. Gold, silver, and bronze medals were first awarded at the 1904 St. Louis Games. From 1904 to 1912, gold medals were made of solid gold. However, since 1920, gold medals have been primarily silver with a gold plating of 6 grams. Silver medals are made of pure silver, and bronze medals are typically composed of copper and zinc, with variations in composition over the years.

Until 1960, medals were made without bindings and were given to the winners directly into their hands. The organizers of the 1960 Olympic Games in Rome for the first time made thin bronze chains in the form of an olive branch so that medals could be hung on the necks of athletes.

In April 1896, when the First Summer Olympic Games were held in Athens, 43 sets of medals in 9 sports were distributed. A distinctive feature of the games was that there were no gold medal awards : the winners who took first place in the competition were awarded medals made of silver with gilding. The winners of the second places received bronze medals, the third places were taken into account later, after the adoption of the relevant decision by the International Olympic Committee.

Olympic Games of Paris 2024

France broke its record for gold medals at an Olympic Games with the 16th title won Saturday night by taekwondo athlete Althéa Laurin at the Paris Games. On the 15th and penultimate day of competition, the Blues are doing better than at the Atlanta Games in 1996. At the 1900 Paris Games, the second of the modern era, held over five months, France won 27 gold medals, but its delegation represented nearly half of the thousand participants and some events were not sporting.

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© Copyright 2024 – Eurasia Business News. Article No. 1162.