A Sochi Olympic Gold Medal is Worth $25,000, But Can Mean a $10,000 Tax Bill

winter Olympic gold silver and bronze medals
How much is an Olympic gold medal from Sochi, Russia worth? The gold medals aren’t pure gold (if they were, they would be worth close to $21,500 each), but they are worth approximately $566 when their metal content is taken into account .(This doesn’t take into account any labor or other expenses needed for creating the medals) Each Sochi gold medal contains 525 grams of silver with an additional 6 grams of gold. The Sochi silver medals weigh in with 525 grams of silver and a melt value of just under $325. The Sochi bronze medals are created out of copper with a zinc and tin mix, and they have a melt value of just over $3. While the value of the metal in the medals might not be w...

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6 Responses to A Sochi Olympic Gold Medal is Worth $25,000, But Can Mean a $10,000 Tax Bill

  1. anna says:

    I think this article was really helpful. I am writing a report on the 2014 Olympics and the medals that go with it so I found this helpful.

    anna tompson

  2. SpeedRacer says:

    Considering we are the most powerfull nation in the world, we are dropping pennies for these US Olympic athletes that pour their souls out to win the Gold, Silver or Bronze medal. Then get chump change for their efforts? And then to be kicked in the ass with a tax bill on the bonus money and the value of the medal as well. They will end up with almost nothing afterwards.

  3. JoAnne says:

    Mendalists should be compensated tax free for their efforts, dedication and contribution to this wonderful Country… Come on Canada….. Our athletes are worth it…..

  4. PlumBob says:

    The only people getting taxed this heavily are those in the top tax bracket. Those specific people don’t give a damn about anything but the gold medal itself. Don’t pretend that money is an object here. No Olympic athlete is out there for the money

  5. Jack Smythe says:

    Why is it that the billionaire NFL club can operate as a non-profit. Similarly that gross exploiter of “student-athletes”, the billionaire NCAA can also operate as a non-profit and effectively rip-off the taxpayer. Yet when an Olympic athlete wins a medal, makes America look good, the taxman is there to take a chunk? Where is the fairness?

  6. Pingback: Olympian Says Professional Athletes Should Not Compete

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