The gold percentage in Olympic medals is negligible, but the Paris 2024 version contains a detail that might send their value through the roof in the future.
ADVERTISEMENTThe Olympics' most coveted prize — the gold medal — contains only a minimal portion of gold.
The object weighs 529 grams, but only six grams are gold — around 1.3% of the medal's total weight — while the rest is pure silver. The gold part consists only of a plate laid over the silver core.
Up until the 1912 Stockholm Games, gold medals were made almost entirely of gold. But post-World War I money-saving policies meant that from Antwerp 1920, the amount of gold making up the medals dropped.
The silver medal, however, is still entirely made of silver, while the bronze one is a mixture of copper, tin and zinc alloy.
So how much money is an Olympic gold medal worth today?
Oxford Economics puts the value of Paris Olympics gold medals at €950.
The estimation is in line with the current 24k gold and sterling silver market values per gram.
However, Paris 2024 medals are embellished with details that could boost their value considerably in the future: a piece of iron from the Eiffel Tower's original frame, placed in the centre of the medal, featuring the logo of Paris 2024.
These pieces of metal were removed from the iconic tower during various renovation and modernisation projects over the years and then preserved by the authorities.
The decision to link the Olympic prize with the symbol of the French capital was taken by a committee of athletes, chaired by France's biathlon legend Martin Fourcade.
Paris 2024 worked on the design with Chaumet, a more-than-two-century-old French luxury jewellery and watch house based in Paris.
Oxford Economics say the value of Olympic gold medals will increase over the years, reaching around €1,500 by 2032, when Australia hosts the Summer Games in Brisbane.