With only a few days left until the closing ceremony of the 2018 Pyeong Chang Winter Olympic Games, all eyes are on the finals in many events to see just who will come out with a prestigious medal. For many, they often wonder exactly what comes with winning a medal and just how “rich” these athletes might be, but the answer might just surprise you.
Winning a medal at the Olympic Games is obviously a huge accomplishment…but more so from a pride standpoint. Because the money athletes receive from winning a medal isn’t as much as you’d think.
The United State is one of a few countries with an Olympic Committee that is not supported by the federal government. Instead, they rely on private funding and grants. Many athletes receive funds through crowd-funding websites, donations, and grants to help them cover the costs of training, traveling and any equipment they might need.
So what exactly does an athlete get for winning Gold, Silver or Bronze?
The value of melting down a Gold medal from this year’s games according to www.coins.com can be up to $577 dollars. A Silver is valued at about $320 dollars, while a Bronze medal (which is made of a copper alloy), is worth only $3.50.
Along with the cash, some athletes might get product endorsement opportunities but mostly it’s the pride of winning and representing their country.
