Every time the Olympic games came around, I’m pretty sure we’ve all wondered about how much an Olympic gold medal costs, and that it’s made out of solid gold too…
an olympic gold medal wouldn’t even cover my rent pic.twitter.com/niiLzbhdED
— James (@CaucasianJames) July 28, 2021
But as Twitter user @CaucasianJames explained, these medals aren’t worth quite as much as you think… $820 to be exact, which with today’s prices, would barely cover the price of rent. The user urged, ‘These poor Olympians we gotta give them Teslas instead or something.’
One of his followers even worked out that they ‘would have to win 7 gold medals to pay for my 2013 Mini Cooper with hail damage’, while another suggested that organisers should just ‘replace Olympic medals with chocolate coins at this point’.
Here's a more in-depth look at how the value of the Olympic gold medal's composition has changed due to precious metal inflation pic.twitter.com/B9lxhD0eM0
— Robert Hum (@HumOnTheMarkets) July 23, 2021
As per NBC New York, precious metals are currently worth far more than they were just three years ago. The 6g of gold and 550g of silver found in this first-place medal are understood to be worth a respective $353 and $466.
However, it seems to be totally different when you’re actually selling them because they can actually be sold for hundreds of thousands of euros to an interested buyer, especially if they’re an avid Olympics fan!
But realistically speaking, what athlete would flog up their medals just like that? The chances are very slim, but the price of the medals remain pretty ridiculous, I must admit.