The amount of gold in an Olympic gold medal has fallen to 1.34 percent, thanks to gold prices that recently peaked at $1,895 an ounce. At current prices, a pure 400g medal would cost about $25,000 to make, with a total bill of about $50m for the games.
"The last time the Olympic Games handed out solid gold medals was a hundred years ago at the 1912 Summer Games in Stockholm, Sweden," writes gold brokers Dillon Gage. "Gold medals were in fact only gold for eight years. The 1904 Olympics in St. Louis introduced the gold medal as the prize for first place."
The 2012 gold is 92.5 percent silver, 1.34 percent gold, and 6.16 copper, with IOC rules specifying that it must contain 550 grams of high-quality silver and 6 grams of gold. The resulting medallion is worth about $500. For the silver medal, the gold is replaced with more copper, for a $260 bill of materials.
The bronze medal is 97 percent copper, 2.5 percent zinc and 0.5 percent tin. Valued at about $3, you might be able to trade one for a bag of chips in Olympic park if you skip the fish.
The International Olympic Committee -- long a swirling cesspool of corruption, censorship, and reputation-laundering for repressive regimes -- has attained a new low, issuing guidance to athletes competing at the 2020 Tokyo Olympics that no political protests will be tolerated, specifically banning kneeling or raising fists.
The 10,000+ athletes at the Tokyo Olympics will sleep on bed frames made of strong cardboard. According to the Athletes Village manager Takashi Kitajima, the frames can hold up to 200 kilograms (440 pounds). “They are stronger than wooden beds,” Kitajima said… “Of course, wood and cardboard would each break if you jumped on them.” […]
Wired has published another long excerpt from Sandworm, reporter Andy Greenberg's (previously) forthcoming book on the advanced Russian hacking team who took the US-Israeli Stuxnet program to the next level, attacking Ukrainian power infrastructure, literally blowing up key components of the country's power grid by attacking the embedded code in their microcontrollers.
Whether you own or rent your place, insurance on that home is a necessary hassle – but a new tech-driven company called Lemonade is starting to show that while it might indeed be a necessity, it doesn’t have to be a hassle. Here’s the way insurance typically works: You pay premiums and hope an accident never happens. […]
Bad news: Your brain reaches its peak performance sometime before you turn 26, and it’s all downhill from there. Good news: At any age, training with brain exercises has big-time benefits. Better news? The Ultimate Memory Mastery Bundle hooks you up with 20 hours of proven psychology and neuroscience techniques to boost your brain and […]
Admit it…even having a pocket knife within reach at a moment’s notice makes you feel a little like James Bond, right? Like, if you run up against a locked vault or a sinister superweapon, all you’d need are a couple of hand-held tools to diffuse the whole situation and save the world. Look, we don’t […]