The honor athletes bring to their country is invaluable, but an Olympic medal‘s actual worth can still serve a purpose.
The Paris Olympic medals are some of the most unique in history—they have a hexagonal piece of the original iron from the Eiffel Tower, built between 1887 and 1889, from parts that were permanently removed and conserved by the Eiffel Tower Operating Company.
The lines radiating from the Eiffel Tower piece embody “both the radiance of France in the world and the shining performances of the athletes at the games.”
Ukrainian boxer Wladimir Klitschko famously sold his gold medal for charity in 2012. The buyer paid $1 million and immediately returned the medal to him as a gesture of goodwill.
The IOC chose renowned French jeweler Chaumet to design the medals featuring elements that reflect French history and the Olympic spirit on the front and the Eiffel Tower piece on the back.
Their actual worth? According to an Instagram post by Wealth, each gold medal is primarily composed of around 500 grams of silver, coated with only six grams of gold. The gold medal is said to be worth $950, the silver $535, and the bronze $12.
Olympic medals throughout the history of the games have a uniqueness that reflect the games or the goals of the host cities. Tokyo 2020’s medals were made from recycled electronics, including old smartphones and other devices donated by the public. This eco-friendly approach made the Tokyo medals particularly special, highlighting sustainability.
Sochi Winter Olympics 2014 medals had embedded meteorite that fell in Russia in 2013. These medals were awarded on the anniversary of the meteorite’s fall.
Those for Rio 2016 were made with gold that was extracted without the use of mercury, and the silver medals were crafted from 30% recycled materials. Sydney 2000 or the “Millennium Medals” incorporated a unique combination: the gold medals were the first to contain a small amount of silver, “representing the connection between the past and the future in the new millennium.”
Financial difficulties, charitable causes
In 2000, Filipino boxer Anthony Villanueva tried to sell his Olympic silver medal in boxing (1964) but was persuaded to donate it instead to the PSC. Manny Pacquiao hailed the boxer as the “original Filipino boxing icon who should never be forgotten by the nation.”
Olympic medals are symbols of personal and national pride, yet their sale highlights the complex circumstances Olympians may face after their careers. Here are some athletes who have sold their medals for various reasons ranging from financial difficulties to charitable causes.
Wladimir Klitschko (Ukraine, boxing, 1996 Atlanta Olympics)
In 2012, Klitschko auctioned off his Olympic gold medal to raise funds for his charitable foundation, the Klitschko Brothers Foundation, which focuses on supporting children’s education and sports initiatives. The medal was sold for a remarkable $1 million at a charity auction in Kyiv. However, in a surprising and heartwarming gesture, the buyer immediately returned the medal to Klitschko, allowing him to keep the symbol of his Olympic achievement while still benefiting his foundation.
Anthony Ervin (USA, swimming, 2000 Sydney Olympics)
Ervin won a gold medal in the 50m freestyle but auctioned it off on eBay in 2004 to support tsunami relief efforts. He raised over $17,000 and donated the money to charity.
Mark Wells (USA, ice hockey, 1980 Lake Placid Olympics)
Wells was part of the “Miracle on Ice” team that won the gold medal. He sold his medal in 2010 due to financial difficulties, fetching around $40,000.
Jesse Owens (USA, track and field, 1936 Berlin Olympics)
Owens famously won four gold medals at the 1936 Berlin Olympics, becoming a symbol of resistance against Nazi ideology. While Owens himself didn’t sell his medals, one of his four gold medals was sold at an auction in 2013 for over $1.4 million. The medal was originally gifted to a friend of Owens and later sold by the friend’s family.
Vitaly Scherbo (Unified Team, gymnastics, 1992 Barcelona Olympics)
Scherbo, who won six gold medals in the 1992 Olympics, sold some of his medals in 2013 to support his family during a difficult financial period. His wife was in a severe car accident, and the family faced significant medical expenses.
Cameron van der Burgh (South Africa, swimming, 2012 London Olympics)
Van der Burgh won gold in the 100m breaststroke and auctioned off his gold medal in 2021 to raise funds for COVID-19 relief efforts. The medal was sold for $50,000, with proceeds going to those affected by the pandemic.
Olga Korbut (Soviet Union, gymnastics, 1972 Munich Olympics)
Korbut, known for her charismatic performances that captivated the world, sold her Olympic medals in 2017. She auctioned off her gold medals to raise funds, claiming it was not out of financial desperation but rather to pass on the legacy and to help support her family.
Helene Mayer (Germany, fencing, 1928 Amsterdam Olympics)
Mayer, who won a gold medal in fencing, sold her medal after fleeing Nazi Germany due to her Jewish heritage. She faced significant personal and financial struggles as a result of the political climate.
