Olympic medal financial trivia.

Individual countries have their own Olympic committees that operate under the umbrella of the International Olympic Committee. Each country's own Olympic committee decides if there will be a financial incentive to their athletes for their winning performances. Some countries offer a cash incentive while others, such as the United States, offer a "honorarium" (a payment intended to help with the cost of coaching, equipment, training, etc.). In other cases, cash in donated by private citizens of a particular country (example: the Philippines).

Here are some examples of the incentives offered to athletes of various countries.

United States (honorariums)
$25,000 for gold
$15,000 for silver
$10,000 for bronze

Italy
$182,000 for gold

Canada
$20,000 for gold
$15,000 for silver
$10,000 for bronze

Russia
$135,000 for gold
$81,000 for silver
$54,000 for bronze

Ukraine
$100,000 for gold
$75,000 for silver
$50,000 for bronze

Ghana - $20,000 for gold
Kazakhstan - $250,000 for gold
Tajikistan - $63,000 for gold
Uzbekistan - $150,000 for gold
Kyrgyzstan - $200,000 for gold
Singapore - $800,000 for gold
Australia - $21,000 for gold, plus their face on a postage stamp
UK: No money - but their face on a stamp

Taxes
In the United States even "honorariums" are taxed. Yahoo! Sports reported, "The Weekly Standard, a conservative news magazine, ran the numbers and tabulated that the tax bill on a gold is $8,986, silver is $5,385 and bronze is $3,500."

Other notes
-For 2012, Olympic gold medals are comprised of 92.5% silver, 1.34% gold, and 6.16% copper.
-The 2012 bronze medals are 97% copper, 2.5% zinc, and 0.5% tin.
-The 1912 Stockholm Olympics were the last Olympics to award gold medals made from 100% pure gold.
-The gold and silver medals weigh 412 grams and the bronze medals win 357 grams.
-4,700 medals will be made for the 2012 Olympics and Paralympics.
-The 2012 gold medals are worth about $640, based on the value of their gold and silver bullion content.
-About 3,000,000,000 people watch the Olympic Games.
-In judo, taekwondo and wrestling, two bronze medals are given out to each weight class.


Resources
http://www.canadianpersonalfinance.com/what-is-an-olympic-medal-worth-to-an-athlete.html
http://sports.yahoo.com/blogs/olympics-fourth-place-medal/winning-gold-medal-brings-9-000-tax-bill-171555961--oly.html
http://www.olympic.org/ioc
http://www.cnbc.com/id/48338786
http://www.bbc.co.uk/sport/0/olympics/19078502
http://www.snopes.com/politics/taxes/olympics.asp

http://sports.yahoo.com/blogs/olympics-fourth-place-medal/why-does-judo-tae-kwon-wrestling-award-two-123145582--oly.html

 
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