How much gold is in the Pyeongchang Olympic Gold Medals?

Image source: www.olympic.org

The Winter Olympics are here! The Olympics are about what is good in the world. Unity, collaboration, competition, talent - the best qualities of humanity are on display. It is the cooperation of nations that allows us to enjoy this wonderful global tradition.

Our hearts fill with joy at the medals ceremony as we celebrate the cumulation of years of training and hard work, crystallized into a shiny medal.

But how much actual gold and silver are actually in the medals and what are they worth?

A Pyeongchang silver medal has 580 grams of silver. (About 20 ounces)

https://www.goldmoney.com/research/live-prices-and-charts

At current spot prices thats a bit over $300 USD.

A Gold Medal is just a silver medal with 6 grams of gold plating.

Just a smidge more than what’s in these:

For Menē 24k investment jewelry here: http://Mene.com/invite/JrT26p

A little disappointing for me personally as I always had the perception as a kid that these were solid gold. This actually hasn’t been the case since....1912! Since I was born slightly after 1912, I’ve been wrong the whole time!

6 grams of gold is currently worth: $251 USD

If you add the silver that makes up the “gold” medal, and the 6 grams of gold plating the total metal value is approx:

$551 USD

If this was a designer jewelry piece, it would be marked up at least 80%.

So the medal would cost about $1000 for less than 4% gold.

Now check out this Menē Round Frame necklace:

https://www.mene.com/jewelry/necklaces/round-frame-necklace-polished-gold

This is ACTUAL solid 100% pure 24 karat gold. It is currently $2,181.77 USD for a eye-popping 42.81 grams of gold.

About 7x more gold than in the Pyeongchang gold medal, but only 2x what you might pay for a ‘designer’ medal.

Now I know what you are all are thinking.

I am in no way taking away from the majestic symbolic beauty of winning a gold medal in the olympics. It is an incredible feat and should be celebrated. The years of toil and sacrifice an Olympian must endure to achieve this are beyond anything most of us could accomplish.

But.

We all labor and toil to make a living. We spend much of our lives working to survive and pay rent, the mortgage, feed ourselves and our families.

We should be storing the sum of this labor in something that retains its value. There is only one form of money that achieves this for you consistently over time.

Gold.

We have ALL earned a gold medal. Not for our athleticism or competitive spirit, but our every day life. Cooperating with others and providing on a daily basis for ourselves and our loved ones.

In the game of life, we are all Olympians.

Retain and protect your wealth. You have earned it. You deserve it.

Buy some gold to protect your hard earned savings.

And the winner will be....

You.

For Menē 24k investment jewelry: http://Mene.com/invite/JrT26p

Thanks for reading everyone,

Goldmatters

Bounty: @goldmatters/bounty-up-to-20-sbd-up-for-grabs

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@goldmatters/what-in-the-world-is-mene24k-35-well-researched-blog-style-essays-contest-winners
Or
@goldmatters/what-is-mene-24-karat-platinum-and-gold-jewelry-valentine-s-day-gift-winner

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For Menē 24k investment jewelry here: http://Mene.com/invite/JrT26p

I am on a personal mission to spread the word about Goldmoney and Menē through any means necessary. Goldmoney allows individuals to empower themselves by protecting their savings by owning small or large amounts gold previously inaccessible to regular people like you and me.