Olympic gold medals are price greater than ever at this yr’s Paris video games, with the uncooked supplies that go into them having the potential to fetch about $900 every.
The medals include six grams of gold, the worth of which soared to a document in mid-July because of central-bank shopping for, retail curiosity in China and expectations of easing US financial coverage. Costs are additionally considerably greater this yr for silver, which makes up no less than 92.5% of the load of gold medals.
Even after adjusting for inflation, the worth of medals remains to be the best ever, with Olympians benefiting from each the sharp rally in bullion costs and more and more hefty medals.
In observe, Olympians don’t are likely to soften or promote their medals, which this yr additionally include a small piece of the Eiffel Tower. Extra profitable are the presents that international locations give profitable athletes, which embrace money, exemptions from navy service and cows. Carlos Yulo – who turned the Philippines’ first male gold medalist final week – will get pleasure from a totally furnished apartment and a lifetime of free colonoscopies.
Medals which can be bought will be price excess of their steel worth. Certainly one of Jesse Owens’ gold medals from Berlin 1936 – when he rebuked Adolf Hitler’s try to showcase Aryan racial supremacy – fetched nearly $1.5 million at public sale in 2013.
