The 1912 Olympics were the last time winners received medals made of solid gold.

The 1912 Stockholm Games were a special moment in history. Back then, the medals were small, only about 33 millimeters wide, but they were 100% pure gold. After World War I, the price of gold went up and countries couldn't afford to give away solid gold anymore. Starting with the 1920 games, they switched to the silver-based medals we use today.Modern gold medals are much bigger and heavier than the old ones, but they are mostly silver. For example, at the Tokyo 2020 Olympics, the gold medals weighed 556 grams. Only 6 grams of that weight was actual gold plating. The rest was pure silver. If those medals were solid gold today, each one would cost about $40,000 to make.Because they are mostly silver, the medals only cost about $800 to $900 to produce. The International Olympic Committee has strict rules about this. Every gold medal must have at least 6 grams of gold and be at least 92.5% silver. The 1912 solid gold medals are now super rare. Collectors pay tens of thousands of dollars to own one because they represent a time of Olympic luxury that will likely never happen again.