Winter Olympics 2026 Gold Medals Worth More as Precious Metal Prices Soar

Olympic gold medals contain less pure gold, but their melt value has increased due to record-high gold and silver prices.

Published on Feb. 9, 2026

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The gold medals awarded at the 2026 Winter Olympics in Milan could be worth significantly more than in previous years due to soaring gold and silver prices. While Olympic gold medals are no longer made of solid gold, the precious metals they contain have seen their value skyrocket, with the melt value of a gold medal now estimated at around $2,500. However, the actual collectible value of an Olympic medal is typically much higher than its mineral worth due to their historical significance and prestige.

Why it matters

The rising value of the precious metals in Olympic medals highlights the impact of global economic factors on the intrinsic worth of these prestigious awards. This could affect how athletes and the public view the value of the medals, as well as the potential resale market for past Olympians looking to monetize their accomplishments.

The details

Olympic gold medals are no longer made of solid gold, but rather consist of 500 grams of silver plated with 6 grams of pure gold. Silver medals contain 500 grams of silver with no gold plating, while bronze medals are solid bronze. At current precious metal prices, the melt value of a gold medal is around $2,500, with the gold component worth $1,018 and the silver worth $1,463. This is a significant increase from past Olympics due to gold prices surpassing $5,000 per ounce and silver reaching $83 per ounce.

  • Gold prices reached record highs of over $5,000 per ounce in January 2026.
  • The 2026 Winter Olympics are scheduled to take place in Milan, Italy.

The players

Bobby Eaton

An Olympics memorabilia expert at Boston-based RR Auction.

Jesse Owens

A U.S. track and field athlete who won four gold medals at the 1936 Olympic Games in Berlin.

Ryan Lochte

A swimming champion who has won a total of 12 Olympic medals, including 6 gold, over four Olympics.

Breezy Johnson

A gold medalist in downhill skiing for Team USA at the 2026 Winter Olympics.

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What they’re saying

“There is a discrepancy between the melt value and actual collectible value.”

— Bobby Eaton, Olympics memorabilia expert (CBS News)

“I'm not one to be all sentimental about medals. My medals are just sitting in my closet collecting dust. The memories that I have is what means the most.”

— Ryan Lochte (The Associated Press)

“Don't jump in them. I was jumping in excitement and it broke. I'm sure somebody will fix it — it's not like crazy broken — but it's a little broken.”

— Breezy Johnson, Gold medalist in downhill skiing (CBS News)

What’s next

The Olympics Organizing Committee is investigating the issue of some athletes' medals breaking after the events.

The takeaway

The rising value of the precious metals in Olympic medals highlights the impact of global economic factors on the intrinsic worth of these prestigious awards, which could affect how athletes and the public view their value and the potential resale market for past Olympians.