Olympic Medals Reach All-Time High Value

Medals at the 2024 Paris Olympics have reached unprecedented value, with gold medals estimated at around US$900 each. Experts note that these are the most valuable medals in Olympic history, driven by a sharp rise in bullion prices and an increase in the medals' weight.

Investment platform Saxo reports that a gold medal from the Paris Games is valued at US$940, surpassing the US$700 value of gold medals from the 2021 Tokyo Olympics and the US$540 from the 2016 Rio Olympics. Meanwhile, a silver medal is valued at US$475, showing an 84% increase from the value in 2021. In contrast, a bronze medal, made from 415.5g of copper and 21.85g of zinc, is worth US$3.90.

The rise in medal value is attributed to recent increases in metal prices. Gold has surged due to lower 10-year US Treasury yields, a weaker US dollar, and strong retail demand in China. Meanwhile, silver's price has benefited from a rebound in industrial activity, particularly in vehicle electrification and renewable energy infrastructure. At the time of writing, gold is priced at US$2,440.90/oz , while silver stands at US$27.91/oz.

Experts note that athletes typically do not melt down or sell their medals, as they often receive rewards from their home countries, including cash bonuses, military service exemptions, and other gifts. However, when sold, Olympic gold medals can fetch prices significantly higher than their material value. For instance, a gold medal from the 1936 Berlin Olympics sold for nearly US$1.5 million at auction in 2013.