2026 Olympic medals rank most valuable ever amid precious-metal rally
The medals awarded at the 2026 Winter Olympics in Milan-Cortina are officially the most valuable in Olympic history based on the raw material value, driven by a sharp rise in precious-metal prices.
Soaring spot prices for gold and silver, with gold trading around record highs and silver up even more, have nearly doubled or tripled the metal worth of medals compared with past games. Although modern Olympic “gold” medals contain just about six grams of gold plated over roughly 500 grams of silver, the gain in silver’s value means the intrinsic metal content is now worth more than ever before. A gold medal’s metal value alone is estimated at over $2,300, with silver medals around $1,400.
Organizers note the medals continue to be crafted from recycled metal by the Italian State Mint and Polygraphic Institute, but the broader precious-metals market, influenced by investor demand, geopolitical uncertainty, and central-bank buying, is central to this historic valuation spike.
