PREV ARTICLE
NEXT ARTICLE
FULL ISSUE
PREV FULL ISSUE
V11 2008 INDEX
E-SYLUM ARCHIVE
BEIJING OLYMPIC MEDALS COST $1.2 MILLION TO PRODUCE
Dick Johnson submitted the following item about the cost of
producing the medals for the 2008 Olympics. -Editor
A news article
revealed the cost of the medals to be awarded at the Beijing Olympics next
month -- $1.24 million in contrast to $429,000 in Athens four years ago.
That makes every Chinese Olympic medal cost $393 on average. The article
tells of the metal supplier and who won the battle to supply this to
China.Analysis of base metal prices between the Athens Olympics
of 2004 and last month, when the Beijing organising committee took
delivery of the 6,000 medals that will be draped around athletes' necks,
reveals that the total cost of the medals has increased from $469,000 to
$1.24m, a rise of nearly 200 per cent.
Ironically, given the location of next month's Games, much of the impetus for the surge in commodity prices in recent years has come from China's insatiable appetite for raw materials to fuel its economic expansion.
Ironically, given the location of next month's Games, much of the impetus for the surge in commodity prices in recent years has come from China's insatiable appetite for raw materials to fuel its economic expansion.
To read the complete article, see: Why Beijing Olympic medals are worth their weight in gold (http://www.telegraph.co.uk/money/main.jhtml?
xml=/money/2008/07/27/cngold127.xml)
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com
To subscribe go to: https://my.binhost.com/lists/listinfo/esylum
All Rights Reserved.
NBS Home Page
Contact the NBS webmaster
