The Milan-Cortina 2026 Olympic medals: the most valuable in history due to gold
As the countdown begins for the 2026 Winter Olympics in Milan-Cortina, Italy, attention is turning not only to the anticipated sporting competitions but also to the unprecedented monetary value of the medals athletes will be vying for. Amidst global market volatility and soaring precious metal prices, these medals are poised to be the most valuable in Olympic history, adding a significant economic dimension to this global sporting event.
Record jump in the cost of Olympic glory
According to official data and market analysis, a total of 1,146 medals will be awarded during the Games, divided between 735 Olympic medals (245 each of gold, silver, and bronze) and 411 Paralympic medals. However, what distinguishes this edition is its economic timing; the past 12 months have witnessed a sharp rise in metal prices, with gold jumping by 67.02% and silver experiencing an exceptional increase of 109.07% up to February 5th.
These price increases were directly reflected in the "pole value" of the medals. The gold medal from Milan-Cortina, weighing 500 grams, has a gross value of approximately US$2,170. By comparison, the gold medal from the 2024 Paris Summer Olympics was valued at only about US$950, meaning the medal's value nearly doubled in a short period, setting a new record.
The truth behind the glitter of gold
Technically, as is the case in modern Games, the gold medal is not made entirely of pure gold. If it were, the cost of a single medal would skyrocket to around $77,000 at today's prices, a huge financial burden for the organizers. Instead, the gold medal consists of 494 grams of sterling silver plated with 6 grams of pure gold. The silver medal is made entirely of silver and is valued at $1,240, while the bronze medal remains symbolic in value (around $6) as it is made of copper.
Historical value that transcends metal
Despite these precise economic calculations, the symbolic and historical value of an Olympic medal remains paramount. Over time, medals transform into priceless and rare artifacts. History brings to mind the story of American runner Jesse Owens, whose gold medal from the 1936 Berlin Olympics was sold at auction in 2013 for over $1.4 million. That medal was more than just a piece of metal; it was a symbol of the triumph of human will and a challenge to the theories of racial supremacy promoted by Adolf Hitler at the time.
A design that reflects the spirit of solidarity
Beyond the numerical significance, the Milan-Cortina 2026 medals boast a unique artistic design that reflects the spirit of the times. According to Raffaella Pagni, the Games' visual identity director, the design is based on the concept of "two intertwined halves," a profound symbolic reference to the athlete's journey being completed thanks to the support network surrounding them. This design embodies the essence of both the Olympic and Paralympic spirit, expressing the determination and passion that drives athletes to reach the top, making the medal a blend of high monetary value and timeless artistic and human significance.
