While the value of artwork is always subject to debate, the value of precious metals is pretty cut-and-dried. This Canadian Coin News piece discusses the intrinsic value
of the new Olympic medals. -Editor
“As a precious metals wholesaler, we get this question of value every two years or so when the Olympic Games come around,” said Terry Hanlon, president of Dillon Gage Metals, one of the world’s
largest precious metals wholesale firms. “First and foremost, the first place medals aren’t solid gold but rather silver with gold plating. If they were 100 percent pure, they’d be worth quite a bit
and would obviously be much heavier too.”
The gold medal, each of which is actually comprised of 99.9 percent silver with six grams of plated gold, weighs 586 grams. The silver medal weighs 580 grams, and the bronze weighs 493 grams.
In calculating a gold medal’s worth, the first part of the equation includes its composition of 99.9 percent silver and weight of 580 grams. It takes 31.1033 grams to equal a Troy ounce. The
current price of silver is trading at about $17 USD, so it follows the silver portion of the gold medal is worth about $318 USD.
To read the complete article, see:
2018 Olympic gold medal value (https://canadiancoinnews.com/2018-olympic-gold-medal-value/)
Wayne Homren, Editor
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