Olympic Medal value
Posted: Sat Aug 06, 2016 3:52 pm
The International Olympic Committee requires the gold medal to contain a minimum of six grams of gold and roughly 92.5% silver. The composition and value of the medals are as follows:
• Gold Medal: 494g Silver, 6g Gold
o (494g x $0.63/g) + (6g x $42.40/g) = $311.22 + $254.40 = $565.62 (£423)
• Silver Medal: 500g Silver
o 500g x $0.63/g = $315 (£236)
• Bronze Medal: 475g Copper, 25g Zinc
o (475g x $0.0049/g) + (25g x $0.0022/g) = $2.3275 + $0.055 ≈ $2.38 (£1.72)
*Prices obtained July 25th, 2016 via JMBullion and Kitco.
http://www.msn.com/en-us/sports/olympic ... id=U348DHP
• Gold Medal: 494g Silver, 6g Gold
o (494g x $0.63/g) + (6g x $42.40/g) = $311.22 + $254.40 = $565.62 (£423)
• Silver Medal: 500g Silver
o 500g x $0.63/g = $315 (£236)
• Bronze Medal: 475g Copper, 25g Zinc
o (475g x $0.0049/g) + (25g x $0.0022/g) = $2.3275 + $0.055 ≈ $2.38 (£1.72)
*Prices obtained July 25th, 2016 via JMBullion and Kitco.
http://www.msn.com/en-us/sports/olympic ... id=U348DHP