Sometimes the margins between winning gold and having to settle for silver are so minute, that really the vast gap in the level of accolade seems unfair. At this year’s Olympics, US swimmer, and most celebrated Olympian of all time, Michael Phelps, missed out on the achievement of being the first swimmer to win three Olympic golds, in the same event, three years in a row, by a measly five hundredths of a second.
Four years earlier, in Beijing, Michael Phelps won one of his golds by an even smaller margin of one hundredths of a second, from Serbia's Milorad Cavic. There are six other finals in Olympic swimming history that have been won by a similar margin, showing that the difference between gold and silver really can be minute. In the 1984 Games, the Women's 100-meter Individual Freestyle saw dual gold medals awarded in a swimming event for the first time, as fellow Americans Carrie Steinseifer and Nancy Hogshead both touched the wall in exactly 55.92 seconds.
The women’s triathlon saw the closest finish of this year’s Games, with Switzerland's Nicola Spirig and Sweden's Lisa Norden being given the same finishing time after the gruelling 1,500m swim, 43km cycle, and 10km run. Spirig was eventually given first place on the width of her running vest!! The margin between gold and silver at times can simply be a piece of clothing. Incredible when you consider the distance of the race.
So what does this mean to the athletes? Of course it is much nicer to win a gold medal, but tangibly how do the two awards compare? Britain had its biggest medal haul in modern Olympic history at the London Games, with 119 medals in all, and with such an array of medallists, their financial reward will be slightly diluted. In reality, financial gains are as much down to personality as medals, and of course the popularity of the event also affects the size of the athlete’s following.
What is the difference in actual value between the two medals at this year’s Games though? How much is a gold medal worth compared to a silver? Well actually, the gold medals at this year’s Olympic Games are made predominantly from Silver also, with only around six grams of gold in each. Thus the actual difference between the cost of gold and silver medals is minimal. With the average price of Silver currently costing only around $30/oz and gold a whopping $1660/oz there is a huge margin, however, between the prices of the two precious metals.
If you have any precious metals of your own, and are looking to get cash for gold now, then why not visit www.247cashforgold.co.uk for a quote today? Your precious metals may not have the same sentimental value as an Olympic medal, but it’s likely they are worth a lot more.