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What's the Cost of Olympic Gold?
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With many more events, a significantly greater number of medals were created for the Beijing Games. Between both the Olympic and Paralympic Games, 1,014 medals were produced for the Vancouver Games, while 6,000 medals were made for the Beijing Games in 2008.
Yet despite the need for nearly 5,000 FEWER medals, the total cost of the gold, silver, and copper (copper is the primary metal in the bronze medal) needed for the Vancouver medals was almost $49,000 MORE than the cost for the metals required to produce all 6,000 Beijing medals.
Why? Partially because of the rise in gold prices (up 27% since the start of the Beijing Olympics), and more significantly, the need for far more silver. Beijing’s medals only weighed slightly over a quarter of the weight of Vancouver’s medals. As a result, at just 150 grams, Beijing’s medals required much less silver and copper. Recall that Vancouver’s medals weigh between 500 grams to 576 grams.
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Gold Medal Trivia Answer: B and C – The Nobel Prize and Congressional Gold Medals are both made out of solid gold. Only the Olympics gold is not.
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