Gold Medals have historically been given for valor on the battlefield, and were introduced to the Olympics and given to event winners starting in 1912.
The term “gold” medal is a bit of a misnomer, as Olympic requirements dictate the medal to be 92.6% silver, with only about 6 grams of gold, so the word “gold” refers primarily to the color and the status of the medals, not its actual metallic content.
Medals are allowed to vary in size slightly, but 130 grams is generally the accepted weight for each medal. Based on pricing at the time of the Beijing Olympic games, gold medals cost in the neighborhood of $393 with the cost of the actual metal itself coming in at around $250, which represented an increase of approximately 150% from the Athens games just four years earlier.
With recent prices in gold and silver surging to never-before-seen heights, the cost of gold medals has soared once again. As of April 26, 2011, the cost for the metal alone would be around $491, representing an increase of just over 49% from the cost of the metal at the Beijing games.
Bottom line, round up all your gold and silver Olympic medals, throw in any residual and scrap metals you have, and bring them to Manhattan Gold & Silver. We will refine all of your precious metals (and medals) and give you the most competitive rates. Almost makes you want to head out and start practicing the shot-put doesn’t it? We are a B2B precious metals company.