Why Olympic Medals Are Now Worth More Than Ever

Athletes competing at the 2026 Winter Olympics in Italy will receive medals with unprecedented raw material value, making them the most expensive in the history of the Games due to soaring precious metal prices.

Since the 2024 Paris Summer Games, the spot prices of gold and silver have skyrocketed by approximately 107% and 200% respectively, driven by investor demand, central bank purchases, and global geopolitical uncertainty.

Consequently, the metal content of a gold medal is now worth about $2,300—more than double its value in Paris—while a silver medal’s metal is worth nearly $1,400, triple its previous value.

However, despite their glittering appearance, the medals are not pure; a gold medal contains only six grams of actual gold, with the remainder being silver, and a bronze medal is primarily copper with a material value of just around $5.60.

While their sentimental and collector’s value can far exceed their melt worth, with historical medals fetching tens of thousands at auction, these 2026 medals represent a unique convergence of sporting prestige and commodity market trends, with experts predicting even higher material values for the medals at the 2028 Los Angeles Summer Olympics.