The 2012 Olympic gold medal is only 1.34% gold

[malkusm]

http://www.zerohedge.com/news/auster...tains-134-gold

As every Olympic athlete knows, size matters. The London 2012 medals are the largest ever in terms of both weight and diameter - almost double the medals from Beijing. However, just as equally well-known is that quality beats quantity and that is where the current global austerity, coin-clipping, devaluation-fest begins. The 2012 gold is 92.5 percent silver, 6.16 copper and... 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500. For the silver medal, the gold is replaced with more copper, for a $260 bill of materials. The bronze medal is 97 percent copper, 2.5 percent zinc and 0.5 percent tin. Valued at about $3, you might be able to trade one for a bag of chips in Olympic park if you skip the fish.

The last Olympic gold medal which was 100% gold was awarded in 1912. The Federal Reserve was created in 1913. Coincidence?

[kathy88]

Conspiracy theorist.

[oyarde]

Now I want some fish & chips , two silver dimes ought to cover that ??

[heavenlyboy34]

Conspiracy theorist.

Coincidence Theorist.

[Steven Douglas]

I think it was done so that it would keep pace with the Nobel Prize of ONE MILL-YONE dollars.

[devil21]

Probably gold plated tungsten.

[heavenlyboy34]

Probably gold plated tungsten.

Just like teh bars in Fort Knox!

[oyarde]

So , how many 1/2 half gram Canadian Mint gold coins would it take to make a gold medal ?

[Zippyjuan]

Gold medals have actually been gold plated silver for a long time.

[Revolution9]

So , how many 1/2 half gram Canadian Mint gold coins would it take to make a gold medal ?

14

rev9