Have you ever wondered what an Olympic Gold medal is worth?
Well, if the International Olympic Committee still gave solid gold medals to first place finishers, the medals would be very valuable.
So, after the 1912 Olympic Games, the IOC made the change to silver medals covered in gold. This means that if an Olympian is looking to melt their medal and sell it, the medal will not go for quite as much money.
The gold medals in the Tokyo 2020 Olympics have been designed by Japanese designer, Junichi Kawanishi. The medals he created compromise roughly of 6 grams of gold on top of 550 grams of pure silver. The value of the Gold medal isn’t exactly static, but if the cost would be above $800.
Even with the change of material in gold medals, many athletes have sold them for much more than $800.
Mark Wells from the United States, in 2010 sold his medal to a collector which sold for $311,000. And then four years later Mark Pavelich auctioned his medal for $262,900.
Many medals have been sold over the years, one of Jesse Owen’s gold medals was sold for $1.47 million in 2013.