Olympic medals are worth a lot, even when they break
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The Milan Cortina games are handing out the priciest Olympic medals in over a century — and athletes are already breaking them.
Why it matters: Athletes typically value medals for prestige, not price, but soaring precious-metal costs have made the sometimes-faulty 2026 medals especially costly.
Driving the news: At least three competitors say their medals have broken since the games kicked off last Friday, reporting snapped ribbons and broken clasps.
- U.S. figure skater Alysa Liu posted a memetic video on Instagram of her broken prize with the caption, "My medal don't need the ribbon," showing off her Team USA uniform.
- Gold medalist skier Breezy Johnson broke her medal while "jumping in excitement" after her win on Sunday.
- And German biathlete Justus Strelow was captured on TV trying to reassemble his bronze after it clattered to the floor while he danced with his teammates.
What they're saying: "Following reports of issues affecting a small number of medals, the Organising Committee immediately reviewed the matter, working closely with the State Mint, which produced the medals," the committee said in an emailed statement.
- "A solution has been identified, and a targeted fix has been put in place."
- "Athletes who's medals have been affected, are encouraged to return them through the appropriate channels so that they can be promptly repaired and returned," the committee wrote.
- "Milano Cortina 2026 remains fully committed to ensuring that medals, which represent the pinnacle of every athlete's journey, meet the highest standards of quality and care."
State of play: The Olympics haven't awarded solid gold medals since the 1912 games in Stockholm, Sweden.
- In 2026, organizers are giving out 1,146 medals between the Olympic and Paralympic competitions.
- The gold medals are made up of 500 grams of silver and six grams of gold. The silver medals are 500 grams and the bronze medals are 420.
By the numbers: The cost of gold futures is up 16% year to date, driven in part by investors searching for a safe haven amid geopolitical tensions and uncertainty from President Trump's economic strategy.
- The increase has persisted even after gold futures suffered their sharpest one-day fall since the early 1980s, following Trump's late-January pick of Kevin Warsh for Fed chair, which calmed independence concerns.
- Demand for precious metals is on the rise more broadly too. As data center manufacturing booms, so does the demand for silver.
Flashback: Olympic organizers have been under fire for their faulty craftsmanship before.
- The French Mint replaced a slew of medals from the 2024 Summer Olympics in Paris after athletes complained their trophies had begun deteriorating quickly.
- More than 130 athletes reported their medals from the 2016 Rio de Janeiro Games were chipping and rusting after temperature differences caused defects.
Go deeper: Trump calls Olympic skier with mixed feelings "a real loser"
