This is approximately $1,182 for gold, $709 for silver, and $473 for bronze. The numbers do not include tax penalties or fees.
The British Olympic Association (BOA) confirmed the sums on July 26, 2016. They are paid exclusively by the government and are kept in a special account until the end of the year when they are distributed among the winners.
Since 2001, when it was first introduced, everyone who has won an individual gold medal at the Olympics has been awarded £300,000 ($370,000). In addition, the country's winning teams have each been given £5 million ($6 million).
The awardees are selected by BOA officials who consult with sports ministers about who should be given what amounts. All proceeds from the sale of gold, silver, and bronze medals are put into a dedicated fund that can only be used for sports purposes. Their distribution is planned annually by the BOA and approved by the government.
In 2012, Britain had four athletes win gold medals: Jessica Allen in women's basketball, Greg Rutherford in men's tennis, Helen Glover in sailing, and Bradley Wiggins in cycling. Each received a payout of £320,000.
At today's values, the gold medal is worth around A $1087 if melted down, while the silver medal is worth approximately $611 and the bronze medal is for approximately $7.
The medals are held in the National Museum of Japan, where they're kept in a secure room-–you can see them on display under lock and key.
They're not for sale, but you could write to the museum to make an offer. The director has the power to accept or reject your offer.
This article was written by Matt Swartz from USA TODAY. He also writes for Tikun Olam magazine, a publication that focuses on Jewish issues.
Each Congressional Gold Medal comprises 16 ounces of gold, according to the Treasury. Gold was priced at $919.55 per ounce in May 2009. Assuming comparable gold prices at the time of production, the medal allowed by this statute would need roughly $14,712.80 in gold.
The President may also award Congress silver medals. These medals are identical to the gold medal except that they are made of silver instead of gold. The first Silver Medal was awarded by President Grant on March 3, 1872, to honor those who served in the Indian Wars.
It weighs 72 grams (2.3 Troy ounces) and its metal composition is worth $2,947 at 2016 values (PS1,988). The super-sized medals from London 2012 were also the heaviest-ever summer Olympic medals prior to Rio 2016. First-place winners received 412 grams of gilded silver from the Royal Mint! Second place earned 160 grams of silver.
The winning total comes out to $542,916 at today's prices. But if you were able to sell it for $100,000 then you would be happy with your investment.
The gold price per ounce has increased since London 2012 by about 20%. The silver price has increased by about 40%.
In conclusion, a gold medal from the London 2012 Olympics is a valuable asset that could be an excellent way to make money. However, you should consider the time frame in which you will use it before buying it. Do not buy a gold medal if you plan to keep it for life because the value will decrease over time due to inflation.
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