The 2024 Paris Olympics officially opened with the fierce and sweaty competition for medals of about 10,500 athletes in 32 sports .

The highest prize is the gold medal. In terms of spiritual value, the gold medal has great significance, many athletes spend their whole life pursuing this goal.

In terms of material value, each gold medal is worth $950, based on the spot gold price on July 24 and the amount of raw gold used to make the medal. This could be the most expensive medal in history due to the high price of gold.

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Medals of the 2024 Paris Olympics. Photo: GT

Previously, the material value of the 2012 London Olympics gold medal was 708 USD.

In general, the material value of all gold medals from the past to the present has increased due to the increase in world gold prices.

The 2024 Paris Olympic gold medal weighs 529 grams, more than 95.4% is made of silver (505 grams), only 6 grams of pure gold is used for the outer plating of the medal, the rest is iron.

If made of pure gold, each medal would cost about 41,161 USD. Because it is so expensive, the organizing committee has not made pure gold medals since 1912.

This year’s Olympic medals were designed by LVMH jeweler Chaumet. Renowned worldwide for its craftsmanship, Chaumet has transformed the medal into a true jewel, with its hexagonal shape, brilliance and gem-set design, according to the organizers.

The other side of the medal features the goddess of victory Athena, which emerged from the Panathenaic Stadium, which saw the revival of the Olympic Games in 1896. This has been a standard feature on all medals since 2004.

The silver medal, weighing 525 grams, is 92.5% silver and the rest is made of bronze.

The bronze medal weighs 455 grams and is made up of 97% copper, 2.5% zinc and 0.5% tin.

All medals are 85mm in diameter and 9.2mm thick.

(According to Forbes, Kitco )