Expert reveals how much the Paris 2024 Olympic medals are actually worth

With the Paris Olympics underway (until 11th August) and the Paralympics following from the 28th August to 8th September, it’s fair to say the games are a hot topic right now.

Naturally, every Olympian is there in the hope of leaving with a medal, and this year the medals have been designed by Parisian jewellery house, Chaumet.

According to the official Olympics website, Chaumet made the decision to incorporate real parts from the iconic landmark, the Eiffel Tower - the ultimate nod to Paris!

But what are they actually worth to the winners?

Well, Jeremy Hinds, Sales Development Director at F. Hinds has shared his expert insight based on material value. He said:

“The medals are primarily made from iron with a plating of gold, silver, or bronze. Something unique about this year’s precious metals, is that they are all recycled, not newly mined.

“Reported at 85 millimetres across, and 9.2 millimetres thick, each medal type will weigh differently due to their varying composition of material.

“The gold medals weigh in at around 529 grams whereas the silver weighs 525 grams. The bronze medal is the lightest of the three, weighing in at 455 grams.

“A common misconception is that the medals are made from solid gold, silver or bronze. In fact, the medals are gilded, meaning they have an iron base with a gold and silver plating. The plating on the bronze medals are a mix of a copper, tin and zinc alloy.

“In terms of monetary value, the metals making up the 2020 Tokyo Olympic medals were reported to be worth: £540 for gold, £297 for silver and just less than £5 for bronze. That’s not necessarily what someone would pay to acquire one though.”

Jeremy added: “Considering the significance of the medals, representing an unfathomable amount of sporting talent, it is difficult to place a true ‘retail’ value on them.

“Something important to note is that this year’s iron composite is actually taken from scrap metal from non-other than the Eiffel Tower! Meaning they’re made from the ultimate symbol of Paris.

“That alone means the medals are a huge piece of history! In addition, each medal will hold lots of sentimental value, meaning to many, they are priceless.

“However, as an estimate, if the winners were to sell these straight after the event, we’d guesstimate they could get at least £10k a piece for a gold medal, £5k for the silver and £2k for the bronze medals, even though the metals making up these is worth a lot less.”

F Hinds also looked at the estimated total value of previous highly successful GB Olympian’s medals, if they were to try and sell them via a popular online auction site:

· Jason Kenny (cyclist): Nine Olympic medals – seven gold and two silver, with an estimated total value of £20,000.

· Bradley Wiggins (cyclist): Eight Olympic medals – five gold, one silver, and two bronze with an estimated total value of £14,250.

· Chris Hoy (cyclist): Seven Olympic medals – six gold and one silver with an estimated total value of £16,250.

· Laura Kenny (cyclist): Six Olympic medals – five gold and one silver with an estimated total value of £13,750.

· Steve Redgrave (rower): Six Olympic medals – five gold and one bronze with an estimated total value of £13,000.

· Adam Peaty (swimmer): Six Olympic medals – three gold and three silver with an estimated total value of £10,250.

· Tom Daley (diver): Five Olympic medals – one gold, one silver, and three bronze with an estimated total value of £5,250.