// IP Marketing video - START// IP Marketing video - END

Olympic gold medal worth only $644

Olympic gold medal worth only $644

PanARMENIAN.Net - The value of an Olympic medal, for many the crowning achievement of a lifetime’s work, is of course priceless – an irreplaceable memento to outstanding athletic achievement.

Yet in real terms, at least for the third place finishers at London 2012, the actual monetary value of medals is astonishingly low.

The bronze medals awarded at these games have been valued at just Ј3 ($4.71).

Those that occupy the bottom rung of the podium are given prizes that are made up of 97 percent copper, 2.5 percent zinc and 0.5 percent tin, which according to London’s Daily Mail newspaper makes them worth Ј3 at current prices.

“Copper is not a particularly valuable metal,” jewelry expert Dan Cohen said. “Copper prices have gone up recently though, so much so that people have been stealing brass cables and so on. One and two pence pieces in the United Kingdom are no longer made of copper, because they would be more valuable if they were melted down.”

London 2012 medals weigh just under one pound and at three inches across are the biggest ever awarded at a Summer Olympics. They were designed by artist David Watkins and 4,700 of them will be handed out over the course of the event.

The gold and silver medals, naturally, have a greater actual value. A gold is worth $644, yet is only one percent gold, with the rest made up of silver and copper. The silvers replace the gold element with extra copper, and are worth about half as much, Yahoo! Sports reported.

 Top stories
Mourinho revealed Mkhitaryan’s lack of match fitness is the reason why he missed the clash with Fenerbahce on October 20 evening.
Petrosyan who is currently the chief coach of the Swiss FC Zürich II, will assume responsibilities in his new post starting from November 1.
Mourinho expects Mkhitaryan to be an important player and is relieved he is on the comeback trail ahead of a crucial run of fixtures.
Partner news