Milano Cortina Winter Olympics: How much is a gold medal worth?
Top City insurers have revealed the value of a Milano Cortina Winter Olympics gold medal as Britain enjoys a flurry of top gongs so far in Italy.
Matt Weston has picked up two gold medals in the skeleton, one of which was in the mixed team sliding event with compatriot Tabitha Stoecker.
And duo Charlotte Bankes and Huw Nightingale claimed top spot in the mixed team snowboard cross, the first ever gold medal on snow for Team GB at the Winter Olympics.
But sentimental value doesn’t always increase the value of a medal, according to Gallagher.
Milano Cortina Winter Olympics gold value
“Olympic gold medals haven’t been solid gold for over a century,” the US firm, whose UK headquarters sit in the Walbrook Building, told City PM. “Today, they are required to be made with at least 92.5 per cent silver and plated with six grams of pure gold.
“Yet even with that, the rising metal market has pushed the estimated value of a single gold medal to around £1,750. Silver medals are worth roughly £1,000, with bronze coming in much lower in value at under £10 – although clearly still hugely valuable to its owner.
“Of course, the financial value of each medal will also depend on the athlete and event in question, as well as the ever-changing metal value.”
It comes despite an ultra-rare winners’ medal from the first modern Olympiad in 1896 going up for auction next month under a price estimation of around £23,000 to £35,000.
“This is the first time we have ever offered a medal from the very first modern Olympic Games,” said Christian Grundtvig of auction house Bruun Rasmussen.
“Such medals are exceptionally rare, and for collectors of Olympic memorabilia, this is nothing short of a crown jewel.”
The Milano Cortina Winter Olympics continue this week with Britain on the hunt for more medals.