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Anne Marie Helmenstine, Ph.D.

How Much Are 2014 Sochi Olympic Medals Worth?

By February 3, 2014

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Sochi Winter Olympics Gold MedalThe International Olympic Committee sets guidelines so the medals given at the Olympics have comparable value from one set of games to the next. This was not always the case, so some older medals may be worth much more or much less than medals handed out today.
  • The medals must be round and attached to a chain or ribbon.
  • Each medal must be at least 60 mm in diameter and 3 mm thick. The 2014 Sochi medals are 100 mm in diameter. The center of each Sochi medal contains a polycarbonate glass design, so it's not solid metal.
  • The first place or gold medal must consist of silver of at least 92.5% purity (sterling silver) and be plated with at least 6 grams of pure gold. The silver of the medal is worth around $300 (price of silver on February 3, 2014 was $0.63 per gram). The value of 6 grams of gold at $40.59 per gram (as of February 3, 2014) would be $244. This gives an approximate value of around $550 for a 2014 Olympic gold medal.
  • The second place or silver medal must be silver of at least 92.5% purity. A silver medal is worth about $300.
  • The third place or bronze medal consists of bronze, which is copper with some zinc and tin. This medal is essentially a giant penny and worth about $5.
Of course, the Olympic medals are worth much more than their weight in precious metals for the achievement they represent and the pride a medal brings home to its winning country!

What Are Olympic Medals Made Of?
Are Olympic Gold Medals Real Gold?

Comments

February 9, 2014 at 10:57 am
(1) Spvd says:

It’s no wonder people go for the gold…

March 1, 2014 at 12:56 am
(2) james says:

I have no athletic ability that’s why I order a set of Sochi olympic medals. People think I went to russia lol its great!

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