The 2014 Winter Olympic Games are here and Forbes recently released some details about the value of the Sochi gold medal. It’s one of the physically largest in history but not one of the most expensive. With a 20% decrease from the London 2012 Summer Olympics the Sochi gold medal is approximately $566 in value, although the decrease in price has to do with the change in gold and silver prices in the last two years. According to Forbes, “the Sochi gold medal weighs 531 grams with a thickness of 10mm and a diameter of 100mm.” However, the majority of the gold medal is silver. There are 525 grams of silver plated with 6 grams of gold.
11 designs were proposed and the winning design is a “Patchwork Quilt” that shows off national designs from the cultures and ethnic groups of Russia as well as the unique landscape of Sochi. A Moscow jeweler, Adamas, was commissioned to make the 1,300 medals and the average time to make one medal was about 18 hours. Quite the commitment!
Enjoy the Sochi 2014 Winter Olympic Games and go Team USA!!