Value of Olympic medals analyzed
Updated On: Feb 21 2014 10:22:17 PM MST
The prizes at the Olympics are known the world over as the gold, silver and bronze.
Scott Boulanger of Grizzly Gold and Silver says, "This year, the prizes offered by the country of Russia are very comparable to all the other prizes countries in the past have offered to the winners. The dimensions on the medal are bigger than normal. They are 100 millimeters in diameter and they are 10 millimeters thick."
However, the size of the prizes don't coincide with the actual content of precious metals.
"Another question that people ask all the time is, 'What is the real value of the gold medal?' And it will surprise you," adds Boulanger.
1.34 percent of the gold medal is gold. It's 92.5 percent silver, 6 percent copper: valued at about $522.
The silver medal is 92 percent silver, 7.5 percent copper: worth $315.
The bronze medal is 97 percent copper, 2.5 percent zinc and a half percent tin. The melt value here -- a whopping $4.22.
Though these are interesting facts, they mean little in the true value of an Olympic medal.
Boulanger explains, "Now, that doesn't take into consideration the collector value of a gold medal. You can obviously guess that a famous person like Bruce Jenner, one of his Olympic medals would have huge, huge collector values."