The 2024 Olympics have finally commenced today (26 July), and I can imagine the excitement around the world as people cheer on their national teams in various sporting events and activities. But, have you ever wondered how much an Olympic gold medal is actually worth?

Contrary to popular belief, the prestigious award is not made entirely out of solid gold. In fact, it is mostly silver. The medal weighs 529 grams, with over 95.4% of it made of silver, totaling 505 grams. Only 6 grams consist of pure gold, which acts as the plating of the medal.

So, let’s talk about the monetary value of the Olympic gold medal. According to reports, the medal is worth about $820 at current metal prices. Yes, you read that right! The actual gold content in the medal is relatively small compared to the silver and iron components.

One social media user humorously shared a screenshot of a Google search result, captioning it, “An Olympic gold medal wouldn’t even cover my rent.” Another user joked, “We should give these poor Olympians Teslas instead of medals!” It’s clear that these individuals acknowledge the monumental effort required to achieve such an honor and the humble worth of the medal itself.

Forbes has confirmed that the cost of a 2024 Olympic gold medal, which approximately 10,500 athletes are after, is around $950. While this may not seem like much, considering the dedication and sacrifices these athletes have made, it is a significant value. In fact, it is said to be possibly the highest value of any gold medal in the history of the modern games, surpassing the $708 record set during the 2012 London Olympics.

Although the true value of the medal cannot be measured in monetary terms, we must remember that these athletes have dedicated their entire lives to pursuing their dreams and representing their countries on the world stage. The Olympic gold medal, regardless of its actual worth, symbolizes their incredible achievements and serves as a testament to their hard work, determination, and excellence.

So, as we watch and support our favorite athletes compete for gold, let us appreciate the true value of their efforts and the importance of the Olympic Games as a celebration of human accomplishment and unity.