How Much Gold Is Really In a Gold Medal?
Recently, "Off The Charts," Bloomberg's Scarlet Fu breaks down the make-up of the medals at the 2012 Olympic games in London and their intrinsic value. For the first time since 1912, the gold medals are made up of various metals and contain only 1.3 percent gold. She speaks on Bloomberg Television's "Market Makers."
Gold Olympic Medal:
Before, the top prize used to have a minimum of 6 grams of gold. Now, it has the following:
* 92.5 % Silver
* 6.2 % Copper
* 1.3 % Gold
- It weights 400 grams, approximately over 14 oz and it's worth $650.00 dollars
This is not the first time that it does not meet the minimum requirements. The last time it happened was in 1912 (100 years ago)
Olympic Silver Medal:
* 92.5% Silver
* Remainder all in Copper
* It's worth $337 dollars
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