Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
EditorsAug 22, 2016
4 Cool Facts About The Olympics and Their Medals
In the spirit of the 2016 Olympic Games, which closed Sunday evening, Senior Editor and Olympics super-fan Brecken Branstrator shares some interesting tidbits.
I can trace my love for the Olympics back to a very specific start.
It was 1996 and the Magnificent Seven was heading to the Olympics in Atlanta.
At the same time, I was taking gymnastics. I basically thought I was Dominique Moceanu. I remember my parents buying me a brand new white crushed velvet leotard with rhinestones on it (because what’s a gymnastics outfit without some bling) and thinking, This is it. Here I am. I swear, it made me tumble harder and run faster at that vault.
During the 1996 Olympics, those seven gymnasts were shining.
And there was one special moment that always sticks out. Kerri Strug. The vault. An injured ankle. I know you know what I’m talking about. Seeing her stick that landing and then watching coach Béla Károlyi carry her to get her medal. Have you ever seen anything so inspiring? That year is when it all started happening for USA women’s gymnastics.
Though I gave up the sport within just a couple of years to return to my first love, soccer, gymnastics continues to be my hands-down favorite sport to watch. And between the Final Five we had this year, our amazing swim team and so many other great athletes representing our country, athletics-wise, I thought it was a pretty great Olympics.
In the spirit of the closing of this year’s games, which officially happened last night, here are some interesting facts about the Games and their medals.
It was 1996 and the Magnificent Seven was heading to the Olympics in Atlanta.
At the same time, I was taking gymnastics. I basically thought I was Dominique Moceanu. I remember my parents buying me a brand new white crushed velvet leotard with rhinestones on it (because what’s a gymnastics outfit without some bling) and thinking, This is it. Here I am. I swear, it made me tumble harder and run faster at that vault.
During the 1996 Olympics, those seven gymnasts were shining.
And there was one special moment that always sticks out. Kerri Strug. The vault. An injured ankle. I know you know what I’m talking about. Seeing her stick that landing and then watching coach Béla Károlyi carry her to get her medal. Have you ever seen anything so inspiring? That year is when it all started happening for USA women’s gymnastics.
Though I gave up the sport within just a couple of years to return to my first love, soccer, gymnastics continues to be my hands-down favorite sport to watch. And between the Final Five we had this year, our amazing swim team and so many other great athletes representing our country, athletics-wise, I thought it was a pretty great Olympics.
In the spirit of the closing of this year’s games, which officially happened last night, here are some interesting facts about the Games and their medals.
The medals of the 2016 Games in Rio. (Image courtesy Rio 2016/Alex Ferro)
1. One of our own designed the medals. With the 2004 Olympic Games returning to their starting place, the Committee decided there should be a redesign of the medals, marking the first time they had seen any significant change since 1928.
Organizers asked designers to submit designs that included two specific Greek elements: a depiction of Nike, the goddess of victory, and the Panathinaikos, the stadium in Athens where the first modern Olympics were held in 1896.
The winning design was by none other than Greek jewelry designer Elena Votsi. Her medal featured a winged Nike in the Panathinaikos stadium with the Acropolis in the background.
(Check out The Adventurine’s recent Q&A with Votsi about the medals. It’s a great read.)
On the back of that first medal was Greek writing, the Olympic flame and the Athens 2004 logo. Now, each host city puts their own design on the reverse side.
2. This year, the U.S. was dominant in its lust for gold. What a great year for the U.S. Olympic athletes. Records were being set everywhere, and it helped the U.S. end up on top, with 121 total medals, almost double the figure for second place China, which ended up with 70.
The U.S.’s breakdown also led them to the most of each individual medal--46 golds, 37 silvers and 38 bronze medals.
3. The whole “bite the medal” thing actually started for a valid reason. And no, it’s not because they’re seeing if it’s made of chocolate (just me?). Historically, the athletes were biting down on their medals to ensure that they were made of real gold and not pyrite.
Today, they’re plated with just six grams of gold. The remaining is comprised of 92.5 percent silver and 6.16 percent copper. The World Gold Council estimated in late July that the gold medal’s “podium value” was about $700, based on metal prices at the time.
(Interestingly, the World Gold Council estimated that if the medals at the 2012 London Olympic Games had been made out of solid gold, the cost would have reached nearly $40 million.)
The last Olympic Games in which medals were made of solid gold was in 1912.
The gold medals now also meet sustainability criteria from extraction to refining, and meet strict environmental and labor laws, the WGD reports. For the silver and bronze medals, meanwhile, approximately 30 percent of the material used is recycled.
This year, the medals used for the Paralympic games have a cool innovation--they have a small device that makes a noise when the medal is shaken to allow visually impaired athletes to know which medal they have.
Image courtesy of SCP Auctions
4. Many Olympic gold medals are worth more than their weight, and some have proved it. The highest price ever paid for an Olympic gold medal was that won by Jesse Owens in the 1936 Olympics, according to ESPN. Pittsburgh Penguins co-owner Ron Burkle purchased it for nearly $1.5 million in 2013.
Owens was, of course, known at that particular Olympics games for winning four gold medals in Germany, where Hitler was serving as host.
The price Burkle paid for this particular gold shattered the previous record for highest price ever paid for a piece of Olympic memorabilia, which was $865,000, set in April 2013, when a buyer paid that amount for a silver cup from the winner of the first modern-day Olympic marathon in 1896.
Owen’s medal also went for five times the previous highest price paid for an Olympic gold medal won by the U.S. team--Mark Wells’ gold from the 1980 ice hockey team sold for $310,700 about six years ago.
More on Editors
The Latest
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%The retailer also shared an update on the impact of tariffs on watch customers.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Pandora Posts Modest Q3 Sales Growth Amid ‘Weak’ Consumer Sentiment The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
