Reply to Thread

Message:: [QUOTE="CamaroDMD, post: 1862728, member: 5233"]Well, you figure they will probably award 200 gold medals (when you factor in all the team events).  If a 1.1lb medal was 14K gold...it would contain 10.2oz of gold.  At $1275.20 per ounce...each medal would have a gold value of just over $13000 each.  So, 200 medals would be around $2,600,000. It's true, that's not a ton.  But...I personally think the symbolism behind an Olympic Gold is the key here...not the metal the award is made out of.  Plus, I wouldn't want to encourage an athlete to sell their medal either...and if they were pure gold they might.  I know in this country, Olympic medals have great value to collectors simply because of their symbolism...but in a poor country, someone might not be able to keep $13K in gold lying around. Plus, it's not Russia (who spent $50 Billion on the games) who makes this call anyway.  It's the IOC.[/QUOTE]