Gold medals have long been symbols of victory and the highest achievement in various competitions, particularly in the prestigious global sporting event currently underway, the Paris 2024 Olympics.

However, did you know that the shape, gold content, cost, and other aspects of gold medals have undergone a long history and significant changes over time?

To understand this better, let’s explore the historical journey of the gold medal and its unique features over the years, culminating in the Paris 2024 Olympics.

1. Origins of the Gold Medal

The gold medal was first introduced at the modern Olympics held in Athens in 1896. During these Olympics, medals were introduced as awards for first-place winners.

At the 1896 Summer Olympics, winners did not actually receive gold medals. Instead, they were awarded silver medals and an olive branch.

It was not until the 1904 St. Louis Olympics in the United States that gold medals were first given to first-place winners. Since then, the gold medal has become the ultimate symbol of victory at the Olympics.

2. Changes in Medal Design Leading up to the Paris 2024 Olympics

• Athens 1896: Silver medals, not gold, depicted Zeus and the Acropolis, symbolizing the strength and grandeur of ancient Greece.
• Paris 1900: Rectangular medals featured a winged goddess, symbolizing victory soaring over Paris.
• St. Louis 1904: The first gold medals, with the goddess Nike standing on the globe, signified global victory.
• London 1908: Two women with St. George slaying the dragon on the reverse, illustrating bravery and triumph.
• Stockholm 1912: Medals showed the opening of the Olympics in front of a statue, reflecting national pride.
• Antwerp 1920: Medals featured Greek motifs and the Antwerp monument, marking post-World War I recovery.
• Paris 1924: Athlete sportsmanship depicted, with combined sports scenes on the reverse, symbolizing diverse sporting events.
• Amsterdam 1928: Nike with winners being carried out of the stadium, highlighting joy and glory.
• Los Angeles 1932: Similar design to 1928, with changes for the year and host city, showing Olympic continuity.
• Berlin 1936: Design remained the same as 1932, emphasizing stability and continuity.
• London 1948: Post-World War II design, symbolizing peace and reconstruction.
• Helsinki 1952: Nike design reinstated, marking continuity and respect for tradition.
• Melbourne 1956: Design remained unchanged, demonstrating stability during global changes.
• Stockholm 1958: Special design for equestrian sports, reflecting the uniqueness of this event.
• Rome 1960: Medal design featured reversed front and back, marking design innovation.
• Tokyo 1964: Nike once again as the central design, symbolizing tradition and victory.
• Mexico 1968: Similar design with slight additions, emphasizing modernity.
• Munich 1972: Castor and Pollux on the reverse, symbols of twins from Greek mythology.
• Montreal 1976: Simple Laurel crown with the Olympic emblem on the reverse, symbolizing honor and victory.
• Moscow 1980: Host city’s Olympic flame on the reverse, signifying spirit and strength.
• Los Angeles 1984: Nike remained the main design, symbolizing consistency and grandeur.
• Seoul 1988: Peace dove on the reverse, representing global harmony and unity.
• Barcelona 1992: Barcelona Olympic logo on the reverse, reflecting the host city’s spirit.
• Atlanta 1996: 1996 Olympic logo with a quilt of leaves, symbolizing American cultural diversity.
• Sydney 2000: Similar design with minor changes, reflecting continuity and innovation.
• Athens 2004: Nike heading towards the Greek stadium, reconnecting with the origins of the Olympics.
• Beijing 2008: Beijing Olympics host logo on the reverse, reflecting China’s grandeur and modernity.
• London 2012: London 2012 Olympic logo on the reverse, showcasing creativity and novelty.
• Rio 2016: Rio Olympic logo on the reverse, depicting Brazil’s spirit and diversity.
• Tokyo 2020: Round design with cherry blossom and laurel leaf motifs, symbolizing Japanese tradition and victory.
• Paris 2024: Modern design with classic elements, featuring the Olympic emblem and Paris’s iconic Eiffel Tower.

3. Gold Content in Medals Through the Ages, Including the Paris 2024 Olympics

Initially, Olympic gold medals were made of pure gold. However, this changed over time due to cost considerations. Here is an overview of the gold content changes in Olympic medals:

• Olympics 1896: No gold medals; winners received silver medals.
• Olympics 1904-1912: Gold medals were made of pure gold.
• Olympics 1920: Gold medals began to be made of silver with a gold plating due to high production costs.
• Modern Olympics to Present: Current gold medals are made of pure silver with a gold plating. According to the official standards of the International Olympic Committee (IOC), gold medals must contain at least 6 grams of 24-carat gold and at least 92.5 percent silver. Thus, pure gold is generally used as a coating over the silver core.

4. Production Costs of Gold Medals

The production costs of gold medals for Olympic champions vary with the market prices of gold and silver. Here are some factors affecting the cost of producing gold medals:

• Precious Metal Prices: The fluctuating prices of gold and silver on the global market affect the cost of medal production.
• Design and Manufacturing: More intricate designs and advanced manufacturing techniques can increase production costs.
• Production Volume: The number of medals produced for each Olympics also affects the total cost.

As we approach the Paris 2024 Olympics, gold medals will have undergone numerous changes over time. Although gold medals are not entirely made of pure gold, they remain the highest symbol of achievement and pride for athletes worldwide.

With advancements in technology and changing economic conditions, gold medals will continue to evolve, yet their value as a symbol of victory and honor will remain timeless.

Similarly, gold as an investment, despite changing times, will continue to hold value and tend to increase annually, serving as a safeguard for your assets in the future.

For those interested in collecting gold in various forms and motifs similar to Olympic gold medals, consider purchasing Treasury gold coins.

Treasury offers a variety of designs with different meanings in each coin. You can also choose the gram weight that fits your budget. Start purchasing gold from Treasury today!