Michael Phelps to fulfill a seemingly impossible feat, winning eight gold medals at the Olympic Games in Beijing. This is the most gold medals ever won by an athlete at an Olympics! As a gold investor like me, you probably wondered what the value of medals Michael Phelps is the Olympics. Let’s see if we can figure it out. First, let us determine which part of the gold medals would be worth. Under the Olympic Charter, gold and silver medals must contain 92nd 5% pure silver. Gold Medal shall be covered with at least six grams of gold. * In the futures market, gold traded unit of hundred grams of Troy. * One ounce equivalent 31st 1 gram. For illustrative purposes, let’s get six grams of gold in each gold medal. Friday closing gold futures (for delivery in December) The price is $ 792. 00th To find out the price of a gram, we will divide the gold price $ 792. 00-31 an ounce. 1st Then we multiply that figure by six, to get the price of six grams. So using the current price of gold per ounce gold value contained in an Olympic medal would be worth about $ 153rd 00th Let us know how many silver medals will be worth it. We will also use silver futures Friday closing prices. Up to $ 12. 82 one ounce silver portion (41 cents times the 92nd 5 g) of the Olympic medal would be worth $ 38th 13th This makes us a value of approximately $ 191. 00th The price of silver and gold varies daily, of course. The value of the medals, will depend on how the metals markets during the present calculation. Let us not forget that this year the Olympic medals inlaid ring of Jade. Involvement of this precious pearl will affect the value. The true value of an Olympic gold medal is much more than raw material composition, however. Imagine what Michael Phelps has done: * He became the first athlete to win eight gold medals in the Olympics * He swam 17 times in nine days. * He swam against 239 opponents in individual events alone! * He broke seven world records! * He set four world records in individual events. * He swam most of the 200 meter butterfly race unable to see when his goggles filled with water. But he broke the world record! * The 100 meter fly, he won the race with just 1/100th of a second! When you factor in all the above, a conservative estimate of the value of those Michael Phelps Olympic gold medal is: priceless.