Why 2026 Olympics medals are the most expensive of all time

The explosion in precious metal prices has had an unusual effect on the 2026 Winter Olympics. 

Medals are more expensive than they’ve ever been.

At the start of the Summer Olympics in July 2024, gold and silver prices were sitting around $2,400 and $28, respectively. 

A view of the silver, gold and bronze medals from the 2022 Winter Olympics. Getty Images

Since then, both assets have boomed, with gold shooting up roughly 100 percent and silver skyrocketing even further, going up around 200 percent over that period. 

Gold medals are now worth around $2,300. and second-place silver medals are roughly $1,400, according to CNN.

Bronze medal winners aren’t quite as lucky. 

The third-place awards are made from copper, which weigh about 15 ounces and are worth only about $5.50 a piece.

With the scarcity of these medals and their sentimental value, of course, they go for a lot more than that on the open market. 

Last month, Ryan Lochte, who competed in four Summer Games (2004, 2008, 2012 and 2016) — winning six gold medals, three silver and three bronze — sold three of his golds at auction for a combined $385,520. 

Olympic rings at the Tesero Cross-Country Skiing Stadium ahead of the Milano Cortina 2026 Winter Olympics on February 3, 2026 in Tesero, Italy. Getty Images

In 2025, Olympic diver Greg Louganis revealed that he had sold three of his five medals — two golds and one silver — for $437,000. 

Athletes will be awarded 735 Olympic medals and 411 Paralympic medals in total during the Winter Games this month. 

The Winter Games officially kick off on Friday in Italy.