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With the price of gold at record highs, and the Summer Olympics right around the corner, I started wondering if the gold medals were indeed made of gold. I found out a varied history of medal design and composition.
Started in Athens….
While Olympic style games have been around for hundreds of years, it wasn’t until the 1896 games in Athens that awarding medals was introduced. Solid gold medals were given out. The design featured Zeus on the obverse and the Acropolis site on the obverse.
Changes…
In 1900, the design was changed but the medal was still solid gold. And for the first time, women were allowed to participate! The design of the medal changed throughout the years.
The End of Solid Gold
1912 was the last year the medals were made of solid gold. Because of the lack of gold, they were later changed to mostly silver with a gold plating.
A Design That Stuck
The medal design in 1928 stuck around until 1968. It featured Nike on the obverse and an athlete on the shoulders of two others with the Olympic stadium in the background on the reverse.
And Now…
The 2008 gold medals were silver based and gilted in at least 6g (.21 ounces) of gold. At the time, the gold in the medals was worth $180 compared to the gold medals of 1908 that were worth $750.
It will be interesting to see what changes, if any, are made to the London games this summer. Do you have an Olympic medal you’d like appraised? Come into to Bellevue Rare Coins for a free estimate!
