How much does a gold medal Olympic cost ? If you are thinking about medal cost, it is really surprise you to know about it. But the players do not more value with its cost due to the world’s largest stage. Olympic gold medal is more value to win than its cost and money.
First of all, the 556-gram medal is cheaper than you think, because it is not entirely made of gold, and it has not been more than a century. According to Olympic records, the only time a gold medal was made entirely of gold was during the St. Louis Olympics in 1904 and the London Olympics in 1908. Originally only 6 grams of were made of gold-plated, and the rest were pure silver made of gold, which meant that only 1% of medals were made of the material named after him.
How much does a gold Olympic medal cost ?
How much does a gold Olympic medal cost ? According to data from Markets Insider, as of July 29, the price of gold was US$1,831 per ounce and the price of silver was US$25.78 per ounce. According to this calculation, the value of an Olympic gold medal is about US$810.
This means that your MacBook Pro, the cheapest Rolex, and the ticket to Tokyo are now more expensive than the first prize won at the Olympics.
What is the prize money for Olympic gold medal ?
What is the prize money for Olympic gold medal ? According to the United States Olympic Committee, a large amount of money comes from the “Gold Medal Action” award, which is the payment to athletes who have won medals at the Olympic Games. Anyone who bites into a gold medal during a celebration will add $ 37,500 to the pocket of each medal. Those who win the silver medal will receive a bonus of US $ 22,500 and those who win the bronze medal will receive a bonus of US $ 15,000. The Tokyo Olympic Games medals are also unique in that they consist of medals collected from small electronic devices. The city appealed to the public and received approximately 78,985 tons of equipment used to help create 5,000 medals. “Every medal awarded to athletes during the Tokyo 2020 Olympics is made of recycled metal,” the Tokyo Medal Program website.