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The MGS 2012 Olympic Primer

The Summer Olympic Games are nearly here, and we’re excited across the pond here at Manhattan Gold & Silver. Soon, everyone will be buzzing about all those precious medals being awarded that are made of precious metals. We’ve already had a jump on things with a few previous blog posts.

We first tackled Olympic medals back in 2010 when the Winter Olympics were underway in Vancouver. For that year, event organizers were really shooting for a green Olympics by doing everything they could to reduce the carbon footprint of the games. This included using recycled precious metals to make the gold, silver, and bronze medals. Since we refine and recycle precious metals everyday, it really warmed our hearts to see our trade featured on the world stage.

Later on, precious metal prices kept climbing and climbing, so we discussed the ever rising cost of making Olympic medals. From there, we got more conceptual and explored the idea of using precious metals as a reward. The Olympics has awarded gold, silver, and bronze medals since 1904, and it will probably stay that way. But don’t you think a platinum medal – perhaps awarded only to record-breakers – would be a fine addition to the award ceremony?

To get ready for the London games in 2012, we broke down the content for each Olympic medal. The medals are made to standards set by the International Olympic Committee, and it was quite interesting to learn what these medals are really made (and worth, from a refining standpoint).

Who’s going to take home the gold in London? We’re excited to find out!

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