Sports

How much money does an Olympic medal worth?

Olympic medals are a rare thing to sight in real life and it’s even harder to be able to grasp one in your hand as they are only given once every two years either at the Summer Olympic Games or at the Winter Olympic Games. Now that we know how often these medals are given out the next logical questions would be how many of them are actually being offer at each Olympics? Well if we are to count only the gold medals given out at the last edition of the Summer Olympic Games we would get 301 gold medals. That’s not very much considering the scale of the Games and the number of participants in each edition.

If we are to take into account all of the information above we would reach to the conclusion that indeed, Olympic gold medals are a very rare thing and they should be extremely valuable, but are they? Of course they are. There are many athletes for which life kept going down once their sporting career was over and unfortunately many of them had to sell their medals to safely get to through the next day. The build material of an Olympic gold medal is worth around five hundred dollars even with the size increase of the modern Olympic edition because of the simple fact that they are not made entirely out of gold. If they would have been made entirely out of solid gold they would worth around seventy five thousand dollars. Anyway, everyone knows that there’s only one way to properly store medals, and that’s with a custom build stainless steel medal hanger. There’s no point in working so hard for a medal if you can’t enjoy it day after day, and you can only do that if it’s properly displayed not just abandoned in a shoe box somewhere in the attic.

So we’ve seen the value of a medal taking in consideration only the build material, but a medal is much more than that. A medal stands for hard work, world-class skills and the power of will, so how much these worth? It depends a lot on how these medals were earned, by whom and in what context. From a collectors point of view, there have been medals bought with values ranging from ten thousands to over one million dollars so it does really depend on how the medal was won and by whom and if a record has been broken together with the medal or not. Sometimes the medals are sold with the initial medal hanger which could add additional value to the price of the transaction.

How about the value of the training and all that time spent by the sportsman to achieve the medal? That could go up to one hundred thousand dollars depending on the time spent training and the training conditions, but can we really estimate that in money? Is that even something morally acceptable? The truth is that no one can ever agree with the real value of a medal in money as it’s close to impossible to account for all the facts.

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