Wed. Jul 24th, 2024

Olympic gold and silver

By triji Apr 6, 2024
News

In anticipation of the next Games in Paris, the prices of the two precious metals are skyrocketing. According to Laurence Girard, a journalist at “Le Monde,” this tendency is being brought

about in particular by the possibility of a reduction in interest rates in the year 2024, which was suggested by the Federal Reserve of the United States.

win medals and records while you are portable! During the last stretch leading up to the Olympic Games in Paris in 2024 (which will take place from July 26th to August 11th), competitors are feeling an increasing amount of pressure. The model of the medals, as well as the designer box that will accompany them, has already been shown to them in order to motivate and inspire them. The only thing left to do is to win them over.

These hard-hitting awards have never been pursued with such fervor before. Additionally, there is a strong rationale for this: even if their symbolic weight does not alter, their worth continues to rise. It is true that the gold market has been on fire during the past few months, and this fire has been carried by the blazing breath of speculation. It is flying from record to record, just like the champions that it will soon award, and the yellow metal is doing as well.

On December 4, 2023, an ounce of 31 grams had already reached a historic level of 2,135 dollars (1,986 euros) during the session. This was a significant achievement. After then, it broke over its maximum level, which it had hit in August of 2020, when the Covid-19 crisis was in full swing. However, after regaining his footing for a short period of time, he started again. Since the beginning of March, the precious metal has continued to shine under the spotlight of the media, with attention being focused on each stage of its unstoppable increase.

At a price of $2,142 per ounce, it achieved a new all-time high on March 6th. A mark that was swiftly removed from the registers because, with the approach of spring, it surpassed the peak of 2,200 dollars, reached its highest point of 2,265 dollars on April 1, and then dived a head above 2,300 dollars at the opening on Thursday, April 4, before receding somewhat.

When it comes to this frenzied dash for gold, silver is not completely out of the running. It is making sluggish progress and was trading at approximately 26 dollars per ounce at the beginning of April. While it is logically less efficient than its competitor, it is making progress. As a result, he is able to revisit levels that he had not encountered in the previous two years. In Olympic form, gold and silver are present.

Did you know that the order of the medals that we identify with the Olympic Games—gold, silver, and bronze—takes place in a relatively recent establishment? Wreaths made of olive branches were traditionally used to wrap around the heads of winners for hundreds of years. Nevertheless, the first medals were issued in the year 1896. The winner was then awarded the silver medal, the winner of the second place was awarded the bronze medal, and the winner of the third place was not awarded anything at all.

The well-known custom of awarding athletes with gold, silver, and bronze medals was first established at the Summer Olympics held in St. Louis, Missouri, in the United States of America in 1904. This practice is generally considered to be the normal method of recognizing athletes. The design of the medals is currently the responsibility of the city that is hosting each Olympic Games, which ensures that each year’s medals are distinctive and unforgettable. The awards frequently honor characteristics of the culture of the nation that is hosting the games, in addition to recognizing qualities that are exclusive to that year’s competition.

This practice has been carried forward into a wide variety of fields, including business award ceremonies, entertainment, and sports. Everyone takes pleasure in the sensation of being presented with an award that is both prestigious and unique to them.

Very few gold medals and prizes are truly made from the solid precious metal that they give the impression of being made from. A bronze mold is used to create the Oscar statuette, which is then polished and gold plated. Similar to the Olympic gold medals, the Pulitzer Prize is a gold-plated silver medal. On the other hand, the actual materials are used to manufacture the silver and bronze Olympic medals.

In the majority of our recognition trophies and plaques, we use brass to symbolize gold, nickel or aluminum to symbolize silver, and copper to symbolize bronze. This is because brass is the most commonly used material for representing gold. We are in awe of the way in which these metals complement and accentuate the natural beauty of wood. Not only do we enjoy making use of alternative materials, but we also take great delight in designing contemporary and fashionable awards that make use of packaging that is both environmentally friendly and recyclable.

Very few gold medals and prizes are truly made from the solid precious metal that they give the impression of being made from. A bronze mold is used to create the Oscar statuette, which is then polished and gold plated. Similar to the Olympic gold medals, the Pulitzer Prize is a gold-plated silver medal. On the other hand, the actual materials are used to manufacture the silver and bronze Olympic medals.

You might be surprised to learn that this year’s gold medals really contain relatively little gold now that the Olympics are gone and the participants are making their way back to their home countries.

The concept of medals is actually a very recent one to the Olympic Games, despite the fact that we have witnessed our athletes collecting their medals. An olive branch wreath was traditionally presented to the winners of the ancient Olympic Games during the closing ceremony. The majority of the winning athletes at the Paris Olympics in 1900 were awarded cups or trophies based on their performance. It wasn’t until the 1904 Olympics that the custom of awarding gold, silver, and bronze medals began. At that time, the organising committee of each host country was responsible for designing and producing the medals. As a result of this, Olympic medals are one-of-a-kind for each of the games, and Rio de Janeiro chose to have sustainability as the primary focus for the design of the medals this year.

The first step in the process of creating an Olympic medal is to create a mold that contains the appropriate design features and shapes. Instead of employing more sophisticated high-tech equipment, the Rio team made the decision to spend two weeks making its mold by hand using precise tools.

 

Every one of Trophyology’s bespoke, contemporary awards is crafted with great attention to detail by our team of creative professionals. They take the time to ensure that each one of our one-of-a-kind awards lives up to our high standards of perfection. Only the highest quality materials are utilized, with hardwoods being harvested for each and every award. These hardwoods are then hand-oiled, assembled, and personalized by our in-house laborers. We also add any personal touches that distinguish your corporate award from others, such as laser engraving or nameplates, to make it stand out from the crowd.

You are taking part in a custom that dates back thousands of years, regardless of whether you are the recipient of an award or the one who is giving one. Gold, nickel, copper, glass, or even actual wood might be used to construct it. It could be a medal, a trophy, a plaque, a plate, a cube, or a pyramid. It could also be a combination of these things. Being recognized is something that our society places a high value on, regardless of the nature of the award or the history that led to its creation. At the end of the day, we want to be rewarded with something that is both physical and beautiful, and it should be something that recognizes our work.

The mold was then scanned into a computer-controlled CNC cutting machine, which resulted in the creation of an identical full-size steel mold. This mold was then heat treated to make it more corrosion resistant. The material for the disc-shaped medal was inserted into the steel mold, and then a hydraulic press was used to apply hundreds of tons of force to the material. This operation resulted in the images from the mold being transferred onto the surface of the medal.

The pressed medals were then finalized by hand before a ribbon was soldered on. This year’s ribbon was fashioned from partially recycled polyethylene terephthalate fabric that was taken from used plastics drink bottles.

Gold medals were actually only made of solid gold for a period of eight years. The gold medal was originally used as a prize for first place during the 1904 Summer Olympics in St. Louis, and the 1912 Summer Olympics in Stockholm were the last time pure gold medals were used.

The production of 812 solid gold medals for this year’s games would have certainly resulted in the event’s financial collapse before it ever began, given that the cost of raw materials for producing a single pure gold medal weighing 500 grams would be $22,000 USD. As an alternative, the gold medals that were awarded this year were made up of 494 grams of silver, with a coating of 6 grams of gold on the surface.

To make sure that environmentally responsible mining practices were employed, the coated gold was properly sourced. Mercury and gold are chemically able to amalgamate, which means that they are attracted to one another.

In certain methods of gold mining, mercury is combined with materials that contain gold to create a mercury-gold amalgam. When the amalgam is heated, the mercury is vaporized, leaving the gold behind. Mercury is a very poisonous substance that can cause harm to the nervous system even at relatively low levels of exposure. Although some of us may remember the days when we played with liquid mercury and used glass thermometers, it is important to note that mercury is extremely hazardous. Due to the fact that mercury vapor from mining may contaminate the atmosphere and water over great distances, causing harm to both the environment and the miners, Rio’s position on the usage of gold that is free of mercury was a good one.

Due to the fact that 30% of the raw silver used to manufacture the medals for second place was recycled, the bright silver of the medals also shines with sustainability. X-ray plates, leftover mirrors, and waste solder were among the items that were used as a source of silver. These items were then transformed into medals that were worth significantly more than the mere cost of the materials.

Not only were the bronze medals for third place this year environmentally friendly, but they were also produced from a combination of copper, zinc, and tin. Forty percent of the copper in the medals came from the industrial waste of the Mint of Brazil, which is where the awards were originally manufactured.

At this time, when we are tallying up our final medal count and welcoming our competitors back from Rio, it is important to keep in mind that not everything that glitters is gold, but it is priceless to show support for our athletes.

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