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Did you watch the olympics? I did but I have to confess, I watched Snoop Dog and Kevin Hart’s coverage of the Olympics more. The two were just hilarious. One of my favorite episodes was the appearance of Sugar Ray leonard. At one point Kevin Hart asked him where he keeps his Olympic gold medal.
Leonard didn’t answer and understandably so.
Gold medals, if we base the value on the material itself, an Olympic gold medal isn’t worth much.
Olympic gold medals are required to be made from at least 92.5% silver, and must contain a minimum of 6 grams of gold.
Gold medals are not pure gold – that would make them too soft. Instead, they’re pure silver, with six grams of gold plating per medal.
A gold medal weighs 556 grams. At a market price of $80 per gram of gold, and $1 per gram of silver, you’re looking at about $1000 of precious metals per medal – $480 of gold, and $550 of silver.
The value of an olympic gold medal comes from what it signifies.
A rare first-place medal from the first modern Olympic Games has sold for more than $180,000 according to the Boston-based RR Auction.
Apparently, at the inaugural Olympiad, first-place winners were awarded silver medals and second-place finishers earned bronze, the auction house said. There was no award for placing third.
So, while all Olympic medals are valuable, any winner’s medal from the historic debut of the 1896 Olympic Games remains exceedingly rare and exceedingly valuable.
Unlike today’s games where thousands of athletes compete, just 250 were featured at the first modern games.
But that’s not the most expensive Olympic gold medal ever sold is believed to be $1.47 million paid in 2013 by an American billionaire for one of the four that Jesse Owens won at the 1936 games. $310,000 was paid for a 1980 Winter Olympics gold medal won by a member of the US ice hockey team which performed the famous ‘Miracle on Ice’ by beating the Soviet Union.
Gold with a historical significance is a good collection and investment. If you can afford it, get yourself one.
The other option is to just invest in gold bullions by putting it in your IRA or have it delivered at your home. You can also buy other collectible rare coins. That’s where Noble Gold Investment can help.
Just go to NobleGoldInvestments.com or call us at (877) 646-5347
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