The History of Olympic Medals, Explained: What to Know for Beijing
Medals for the 2022 Winter Olympics will include design elements from the 2008 Beijing Summer Games
By Kelley Ekert ••
NBCUniversal Media, LLC
Here is a look at the history of Olympic medals, what they are going to look like in Beijing and what athletes do with the iconic hardware
Just six months after medals were placed around the necks of athletes like Caeleb Dressel, Simone Biles and Katie Ledecky, it's time for the Winter Olympians to compete for some shiny, new hardware.
Here is a look at the history of Olympic medals, what they are going to look like in Beijing and what athletes do with the iconic hardware.
In the ancient Olympic Games, which can be dated back to 776 BCE, victors were adorned with olive wreaths rather than the medals we see in today’s competition.
The first modern Olympic Games in Athens in 1896 is where the tradition of awarding medals to winners began. The first-place winner was given a silver medal, second place was awarded a bronze medal and those who came in third left empty handed. The now-famous tradition of gold, silver and bronze medals began in 1904 at the St. Louis Olympics.
The host city’s organizing committee is responsible for designing the awards. Regulations from the International Olympic Committee require that the design of each medal includes the following elements: Nike -- the Greek goddess of victory -- in front of the Panathinaikos Stadium, the official name of the respective Games (this winter’s will say “XXIV Olympic Winter Games 2022” and the Olympic five rings symbol.
Data and Images: IOC Nina Lin and Andrew V. Pestano / NBC
Why do Olympians bite their medals?
You may have noticed that Olympians don’t just show off their medals when they receive them -- they actually … go for a taste?
The main reason why Olympians bite their medals is an obvious one: it’s a great pose for the cameras.
“It’s become an obsession with the photographers,” David Wallechinsky, president of the International Society of Olympic Historians, told CNN in 2012. “I think they look at it as an iconic shot, as something that you can probably sell. I don’t think it’s something the athletes would probably do on their own.”
But where did this practice of Olympians biting their medals originate? Biting coins was once something that people did in order to see whether they were real gold or just a cheaper metal with gold plating. Because gold is softer and more malleable than other metals, a bite into authentic, solid gold would leave an indentation. However, this would not work with today’s Olympic medals considering that the first-place awards Olympians receive today are actually just 1.34% solid gold.
Do Olympians keep their medals?
Some Olympians choose to keep their medals and may display them in their homes, while others find unique places to hide the awards.
Swimmer Michael Phelps, the most decorated Olympian of all time, told Anderson Cooper after the 2008 Beijing Olympics that he stores his gold medals wrapped in a T-shirt in a traveling makeup case. Skier Mikaela Shiffrin told NBC after the 2018 PyeongChang Olympics that she keeps her medals in her sock drawer. Soccer player Christie Pearce (formerly Rampone) admitted to hiding her medals in the last place she thought anyone would look: among her pots and pans.
How much are Olympic medals worth?
Some athletes have opted to sell their hardware. Before being awarded to an Olympian, medals aren’t worth all that much. The value of a melted-down gold medal from the 2018 PyeongChang Olympics was about $577, a silver was about $320 and a bronze was worth only $3.50.
It’s only after the medals are in an Olympian's hands that their value skyrockets. Ukranian boxer Wladimir Klitschko sold his gold medal from the 1996 Atlanta Olympics for $1 million dollars, which he then donated to a children’s charity. American swimmer Anthony Ervin was also able to donate $17,101 to victims of the 2004 Indian Ocean tsunami after selling his gold medal from the 2000 Sydney Olympics on eBay.
Antwerp, Belgium: Picture shows a group of US Olympic Athletes posing together in their uniforms on Nov. 5, 1920.
Aileen Riggin, Gertrude Ederle, and Helen Wainright stand in their Olympic team uniforms and hold American flags, after returning from the 1920 Olympics in Antwerp, Belgium.
American skater Gretchen Merrill on the ice during her performance in the Ladies Figure Skating contest at the Olympic Games in St. Moritz, Switzerland, Feb. 6, 1948. Merril finished the event in 8th place.
Team portrait of the 1920 US Olympic ice hockey team, undated.
Portrait of American athlete Babe Didrikson Zaharias in 1932 holding a javelin and wearing her Olympic uniform in Los Angeles, California. Babe set a new world record with her javelin throw at the event.
American speed skater Irving Jaffee holds his gold medal after winning the men’s 10,000-meter speed skating event at the 1932 Winter Olympic Games, Lake Placid, New York, on Feb. 9, 1932.
Here are the official uniforms that will be worn by the men and women of the U.S. Olympic teams when the 1948 Olympiad opens in England.
Portrait of the US Olympic speed skating team on an outdoor rink shortly after arriving in St. Moritz for the 1948 Winter Olympic Games, St. Moritz, Switzerland, January 1948.
This is a July 29, 1948, file photo of Ralph Craig, center, who won the 100- and 200-meter dashes in the 1912 Olympic games in Stockholm and was a member of the U.S. Olympic Yachting team in the 1948 games, carrying the American flag in the parade of the nations at the opening of the Olympic games in London’s Wembley Stadium.
Eleanor McCoy is dwarfed by athletes (from left) Howard William, Clyde Lovelette, both of Peoria, Illinois; Clyde Dean Kelly of Lawrence, Kansas, and Bob Kurland of Bartsville, Oklahoma, as she checks to make certain their Olympic jackets fit in 1952.
The ‘Tennessee Tiger Belles’, the American athletic team who collected three gold medals in the 1960 Olympic Games, arrive at London Airport from Rome for the Commonwealth versus USA athletics meeting on Sept. 12. 1960. From left to right, they are Martha Hudson, Lucinda Williams, Wilma Rudolph and Barbara Jones.
American Olympic sprinter Wilma Rudolph in the final steps of a race at the 1960 Summer Games. Rudolph, who couldn’t walk without the use of braces until she was nine, won gold in the 100- and 200-meter run, and anchored the winning 400-meter relay team.
National champion and Olympic team figure skating member Peggy Fleming of Boulder Springs, Colorado, wears her Olympic parade uniform during a fitting session on Jan. 22, 1968.
Avery Brundage, President of the International Olympic Committee, presents the winning gold medals to Otis Paul Drayton, Gerald Ashworth, Richard Stebbins and Robert Hayes of the United States during the medal ceremony for winning the Men’s 4 x 100 meters relay competition on Oct. 21, 1964, during the Summer Olympic Games in Tokyo, Japan.
The women of the United States Olympic team lead their male counterparts into the University City Olympic Stadium during the opening ceremonies of the Olympic Games in Mexico City on Oct. 12, 1968.
U.S. Olympic team decathlon competitor Bruce Jenner of San Jose, Calif., is fitted for his Olympic uniform in Plattsburgh, New York, on July 7, 1976.
Men’s Basketball during the Summer Olympic Games on July 18, 1976.
Members of the American Men’s Olympic ice hockey team celebrate on the medal podium after receiving their gold medals in Lake Placid, New York, on Feb. 24, 1980.
The U.S. Olympic hockey team gathered in New York's Grand Army Plaza on March 3, 1980.
American Olympic athletes wave the cowboy hats that are part of their official Olympic uniforms on Feb. 8, 1984, as they march in Kosevo Stadium during opening ceremonies of the Winter Games in Sarajevo, Yugoslavia.
The American cycling team rides together in Seoul, South Korea, on Sept. 18, 1988.
A closeup view of the emblem on the official uniform of the United States Olympic Team worn during the 1984 Summer Olympic Games in Los Angeles, California.
Alpine skiers Bill Johnson (wearing hat) and Doug Lewis of the USA Olympic Team try on their Olympic uniforms prior to the 1984 Winter Olympics held in Sarajevo, Yugoslavia.
American 400 meter runner Denean Howard (right) among other members of the US Olympic team during the Parade of Nations at the Opening Ceremony of the Olympic Games, Seoul, South Korea, on Sept. 17, 1988.
Michael Jordan, left, of the Chicago Bulls and Earvin "Magic" Johnson of the Los Angeles Lakers sport their new uniforms for the 1992 US Olympic Basketball team on Sept. 21, 1991, in Chicago, Illinois.
The US women's softball team waves to the crowd after being awarded the gold medal at the 1996 Atlanta Olympic Games.
New members of the U.S. Women’s National Basketball, from left, Lisa Leslie, Chamique Holdsclaw, DeLisha Milton and Nikki McCray pose with their uniforms during a news conference at the MCI Center during the 2000 Olympics.
United States Olympic athletes, from left, boxer Rock Allen, softball player Jennifer Nicholas, archer Lisa Fernandez, and fencer Ivan Lee model the new 2004 Olympic Sportswear collection on May 13, 2004, at NBC Studios in New York.
U.S. Olympic diver Mark Ruiz and rhythmicgymnast Mary Sanders pose for a photo wearing the official opening ceremonies uniform on the set of the NBC Today show on Aug. 13, 2004, which moved to Athens for the 2004 Olympic Games in Athens, Greece.
Players from the US Olympic basketball team (L-R) Carlos Boozer, Jason Kidd, Michael Redd, LeBron James, Dwyane Wade, Deron Willimas, Dwight Howard, Kobe Bryant, Chris Paul, Carmelo Anthony, Chris Bosh and Tayshaun Prince pose in Rockefeller Center on June 30, 2008, to display the uniforms provided by Nike they will wear at the Beijing Olympics.
Uniforms outfitted for the Olympic Rowing are displayed at Boathouse Sports on July 13, 2012, in Philadelphia for the Summer Games in London.
Team USA during the Opening Ceremony of the 2012 Summer Olympic Games held in London, England, on July 27, 2012.
Nordic combined skier Todd Lodwick of the United States Olympic team carries his country’s flag during the Opening Ceremony of the Sochi 2014 Winter Olympics on Feb. 7, 2014, in Sochi, Russia.
U.S.A. Track and Field athletes, from left, Allen Johnson, Jen Toomey, Inger Miller, Justin Gatlin and Stacy Dragila show off the 2004 uniforms which will debut at the Olympic games in Athens during a news conference July 13, 2004, in Sacramento, California.
The 100 day countdown to the 2012 London Olympics on NBC News’ Today show.
From left: Ryan Lochte, Haley Anderson and Jordan Burroughs on TODAY revealing the Olympics Closing Ceremony uniforms on April 27, 2016.
Flag bearer Michael Phelps of the United States leads the U.S. Olympic Team during the Opening Ceremony of the Rio 2016 Olympic Games on Aug. 5, 2016, in Rio de Janeiro, Brazil.
USA Olympic Team uniforms debut on March 17, 2016, in New York City.
Professional basketball players Elena Delle Donne, Kevin Durant, and Sanya Richards-Ross show off the 2016 Olympics Uniforms For USA on March 17, 2016, in New York City.
Team USA Tokyo Olympic closing ceremony uniforms are displayed during the unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Photo by Evan Agostini/Invision/AP
Team USA Tokyo Olympic closing ceremony uniforms are displayed during the unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Team USA Tokyo Olympic closing ceremony uniforms are displayed during the unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Team USA Tokyo Olympic closing ceremony uniforms are displayed during the unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Team USA Tokyo Olympic closing ceremony uniforms are displayed during the unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Team USA Tokyo Olympic closing ceremony uniform unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Athletes Daryl Homer (Fencing), from left, Jordyn Barratt (Skateboard) and Heimana Reynolds (Skateboard) participate in the Team USA Tokyo Olympic closing ceremony uniform unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Team USA Tokyo Olympic closing ceremony uniform unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Athletes Daryl Homer (Fencing), from left, Jordyn Barratt (Skateboard) and Heimana Reynolds (Skateboard) participate in the Team USA Tokyo Olympic closing ceremony uniform unveiling at the Ralph Lauren SoHo Store on April 13, 2021, in New York City.
Do American Olympians pay taxes on their medals?
American athletes who won Olympic medals used to be required to pay a “victory tax” -- both on the value of their medal and on reward money given to them by the US Olympic Committee.
Now, thanks to former President Barack Obama, Olympic athletes are outside the grip of Uncle Sam. Obama signed a bill into law in 2016 that excludes athletes who bring home gold, silver or bronze medals for Team USA from having the IRS knock on their door. Unfortunately for high-profile athletes like Michael Phelps, the only exception is for those who earn more than $1 million a year.
Olympic Medals Adjusted Per Athlete
Since the 1896 games in Athens, the number of countries and athletes participating in the Olympics has ballooned in size lowering the number of medals per athlete for each country.
Source: International Society of Olympic Historians; Olympedia; International Olympic Committee Credit: Andrew Williams/NBC
