Key Takeaways
- Olympic gold medals aren’t solid gold, but they’re still worth thousands based on metal content alone.
- Most U.S. Olympians no longer owe federal taxes on medal-related prize money, easing a long-standing financial burden.
- The real value of a medal often comes after the podium, through exposure, endorsements, and career opportunities.
With the Winter Olympic Games Milano Cortina 2026 in full swing, attention extends beyond the competition itself to a practical question: what is an Olympic medal actually worth?
The answer depends on how you define “worth.” There’s the literal value of the metal, the tax implications that could follow, and then the much bigger value that comes from status, visibility, and opportunity.
Are Olympic Gold Medals Actually Solid Gold?
Despite the name, Olympic gold medals are not solid gold. Even though the tradition of a solid gold medal was established in 1904, forging the medals 100% out of gold didn’t last long, as it became too costly after World War I. As a result, the top medal hasn’t been made of solid gold since the 1912 Olympic games.
Today, gold medals are primarily made of silver, with a relatively thin coating of pure gold on the surface. The exact specifications vary slightly, but the general formula has remained consistent. A modern Olympic gold medal typically contains 523 grams of sterling silver, with approximately six grams of gold plated on top. This allows it to look like gold and feel substantial, while also carrying enormous symbolic weight.
Silver medals are indeed solid, made of 525 grams of sterling silver. Bronze medals meanwhile contain no precious metals at all, typically containing 90 percent copper and other alloys, such as tin and zinc.
As a result, the true value of each medal comes more from the prestige of being a medalist and the opportunities it may offer than from the raw materials that comprise each medal.
What Gold, Silver, and Bronze Medals Are Worth at Today’s Metal Prices
Metal prices fluctuate constantly, so any estimate is a snapshot in time. Using current pricing, gold is trading around $5,000 per troy ounce, and silver around $80 per troy ounce. Six grams of gold works out to be worth about $965 at current prices, while the silver portion of a gold medal, about 523 grams, is worth about $1,345. Added together, the raw metal value of a gold medal currently lands around $2,310.
Silver medals, made of 525 grams of sterling silver, would be worth around $1,350, while bronze medals are worth far less from a materials standpoint. With copper currently priced at about $0.37 per ounce and a bronze medal comprising 495 grams of copper, the third-place medal would be worth less than $7 at today’s prices.
Do Olympic Athletes Have To Pay Taxes on Their Medals?
Fortunately for U.S. athletes, the tax picture has changed over time. In the past, medals and associated prize money were treated as taxable income,…
Source: www.investopedia.com
