The medalists of the 2026 Winter Olympics in Milan, which will officially open on February 6, will receive the most expensive medals in the history of the Games, thanks to the rapid increase in prices for precious metals, CNN claims.
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Since the Paris Olympics in July 2024, gold and silver prices have soared by about 107% and 200%, respectively, according to FactSet. Based on metal prices alone, gold medals are now worth about $2,300, more than double their value at the 2024 Games. Silver medals for second place are worth almost $1,400, or more than triple what they were two years ago.
It is worth noting that the Olympic gold medal, out of 506 grams, contains only six grams of pure gold. The rest is silver. Bronze medals are made of copper and, at 420 grams, cost only about $5.60 each.
By the way, according to London auction house Baldwin's, no solid gold Olympic medals have been made since the 1912 Games in Stockholm. The value of these awards, which weighed just 26 grams, would have been less than $20 based on the price of gold at the time. At today's prices, they would be worth about $530.
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However, as collectibles, Olympic medals can sell for well above their monetary value. For example, Baldwin's sold a “gold” from the 1912 Olympics for $26,000 in 2015.
We would like to add that the medalists of the 2026 Olympic Games will be awarded over 700 gold, silver, and bronze awards made from recycled metal by the Italian State Mint.
Previously, “FACTS” published the calendar of the final competitions of the Winter Olympic Games in Milan and Cortina d'Ampezzo.
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