The 2016 summer olympics will kickoff in August. Years of practice and competition for the world’s top athletes will come down to winning the gold for themselves and country.
Just how much does it cost to make one gold olympic medal? The Olympic committee showcased the medals in June. The gold medals have a combined metal weight(gold/silver) of 500 grams. Only about 5 grams of the gold medal is gold itself with the remaining 495 grams being silver.
With gold being around $1250/ounce and silver $15.50/ounce at the time of manufacturing the medals, here is the financial breakdown for producing it:
(28.3495 grams in one ounce)
5 grams x $44.09 = $220.45
455 grams x $.55 = $272.25
TOTAL cost for producing the gold medal: $492.70