(WYTV) – How much is an Olympic gold medal worth? Just the medal itself?
At one time, the medal was solid gold. After the 1912 games, the International Olympic Committee made the switch to silver medals coated in gold.
The gold medals for the Tokyo Olympics, contain six grams of gold coating 550 grams of pure silver.
So taking into account current gold and silver prices, a gold medal is a bit north of $800. A silver medal made of 550 grams of pure silver, comes in at $462. Bronze medals, mostly copper and a little zinc, are worth just a few dollars.
But then history takes over. Mark Wells was a member of the “Miracle on Ice” U.S. hockey team of 1980.
He sold his gold medal to a private collector and that may have been a mistake — that collector auctioned it off for nearly $311,000 in 2010.
Wells’ teammate, Mark Pavelich, made $262,900 off his own medal in 2014.
In 2013, one of Jesse Owens’ gold medals from the 1936 Berlin Olympics sold for $1.47 million.