What is the value of an Olympic gold medal?

In: Olympics Track and Field [Edit categories]

Olympic gold medals vary from year to year but generally weigh approximately 250 grams. They are not actually pure gold but rather silver coated in no less than 6 grams of gold giving them an actual make up of 244 grams of silver and 6 grams of gold, roughly. At current gold and silver prices (August, 2008) this means the actual value of the gold and silver making up an Olympic gold medal is approximately $300. However, the rarity of an Olympic gold medal means that its actual value far exceeds the value of the metal required to make it. For example, in 2005 Olympic gold medal winning swimmer Otylia Jedrzejczak auctioned off her Olympic gold to raise money for a Polish children's hospital, the medal sold for $101,500.

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