What is the actual worth of the gold medals won at the Paris 2024 Olympics?

There's been plenty of chatter about the medals from the 2024 Olympics, including Nyjah Huston from the USA skateboard team criticising the poor quality of his bronze medal. But have you ever wondered about the actual worth of an Olympic gold medal, or how much an athlete might get if they decided to sell it?

This year's Olympic gold medals at the Paris Games are more valuable than ever, with the raw materials used to make the medals fetching around $900 (Rs. 75,559.86), as per a Business Standard report.

The gold medal this year contains six grams of gold.

With gold prices hitting a record high in mid-July due to increased central-bank purchases, strong retail interest in China, and expectations of changes in US monetary policy, these medals are worth a lot.

The value is further boosted by higher silver prices, as silver makes up over 92.5% of the gold medal's weight.

Even after adjusting for inflation, this year's medals are the most valuable ever, and they also include a piece of the Eiffel Tower.

Credit: Paris 2024

Have Olympians sold their medals?

While Olympians don't usually sell their medals - it's hard earned after all - but there have been a few instances.

In fact, medals that are sold can be worth far more than their metal value.

One of Jesse Owens' gold medals from Berlin 1936 每 when he rebuked Adolf Hitler's attempt to showcase Aryan racial supremacy 每 fetched almost $1.5 million (Rs 12.6 crore) at auction in 2013.

Credit: Wikipedia and World Athletics | Jesse Owens at the 1936 Olympic Games & his gold medal

Mark Pavelich's (American ice hockey player) gold medal went for an impressive $262,900 (Rs 2,20,71,559 today) at an auction in 2014.

John Millensted, head of the Coins & Medals department at Bonhams auction house, told the New York Times, "The market is strong for Olympic medals when they come up for sale but it depends on a number of factors, such as the event. That said, it's not often you get living athletes selling their medals. It tends to be the next of kin after the original recipient has passed away."

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