The 2010 Winter Olympics started this past week in Vancouver, and when considering these prestigious games, one must ask oneself the question: if I were to take up curling, would winning a gold medal make up for all those years of chronic boredom and embarrassment, you know, money-wise? Well…

• Gold and silver have appreciated in value over the past ten years—a result of the current credit explosion and financial crisis—which has shaken investor confidence in currencies, making gold and silver a safer, more desirable bet.
• At the turn of the century, on the other hand, pawning off gold and silver medals would not have been as wise as it would today, since the value of both commodities was exponentially smaller then.
• 1980 was the golden year (pun intended) for hocking gold medals, but one in possession of an Olympic medal in these modern times would probably be best served by selling said medal on eBay (unless, of course, it’s a bronze).

Facts & Figures

• Gold is currently valued at $1,100 per ounce, but gold medals are primarily made of silver, with about 6 grams of gold plating on top.
• The medals handed out in Vancouver are substantially larger than medals awarded in years past—this year’s medals are about 100 millimeters in diameter, 6 millimeters thick, and weigh between 500-576 grams (a little over a pound). The medals from the last two Winter Olympics (held in Turin, Italy and Salt Lake City, UT, respectively) weighed less than 500 grams.
• Vancouver’s gold medals are worth approximately $500, while silver medals are valued at a little over half of that.
• In 1980, after adjusting for inflation, gold medals were worth around $1,000.00
• Silver medals on eBay have been known to sell for $7,000.00

Tags: commodities, credit, gold, olympics, silver