London 2012 Olympics Medal Table - Team GB Tally
As a follow up to the earlier Max Farquar post, about the London 2012 Olympics medal table, I thought we’d continue to keep a track of how things are going and how much each of the gold, silver and bronze medals are costing us pro rata, in relation to the £25 billion that we’ve had to fork out for the Seb Coe-Ca-Cola Sports days.
Well, I say gold, silver and bronze but thanks to a comment here, by George Silver, we can see what the London 2012 olympic medals are actually made of :
Gold Medal is 92.5% Silver, 6.16 % Copper, 1.34% Gold. Silver Medal is 92.5% Silver, 7.5% Copper. (It seems that coming second almost gets you the real medal.) Bronze Medal is 97% Copper, 2.5% Zinc, 0.5% Tin
Hmmm, anyway, we need some kind of rudimentary formula that we can use to convert the Team GB medal tally into a current cost per medal and thanks to a regular Max Farquar reader, Joe Public, we have one :
1 x Gold = 2 x Silver = 4 x Bronze medals
So, here is the latest London 2012 Olympics medal table as of midnight 1st August ….
… and, using the formula, I make that a gold medal equivalent of 4.5 which means the cost per medal currently stands at £55,555,555.60p. That’s more than £55 billion each. WTF! Oh, but to be fair, David Cameron reckons the Olympics will bring in an extra £1 billion revenue over the next few years. A mere drop in an Olympic sized swimming pool … if you ask me.