PARIS, France – The gold medal at the Paris Olympics is reportedly worth US$950 (approximately J$148,000).

According to an article by Forbes Australia, the medal is possibly the highest in value in the history of the games, primarily because of the record-high prices for gold. It surpasses the US$708 (approximately JM$110,000) record for the 2012 London Olympics.

Forbes Australia says the Olympic gold medal weighs 529 grams, with more than 95.4 per cent of the medal actually made of silver (505 grams). Six grams consist of pure gold, which serves as the plating for the medal, and 18 grams consist of iron. Iron isn’t usually a metal used in the making of Olympic medals, but it’s not just ordinary iron. It comes from the Eiffel Tower, the universally recognised symbol of Paris and France.

If the gold medal were made of pure gold, it would be valued at approximately US$41,161—more than JM$6 million. The last time pure gold medals were presented was in 1912.

The silver medal weighs 525 grams, with 507 grams made of silver and 18 grams of iron. Its value, based on the July 24 spot price for silver and iron, is approximately US$486 (approximately JM$76,000).

The bronze medal weighs 455 grams and consists of 415.15 grams of copper, 21.85 grams of zinc, and 18 grams of iron. Its podium value is approximately US$13 (approximately JM$2,000).