Who pays for the olympic medals that are made?

Question

Is the host country in charge of paying or the IOC?

Answer 1

I heard on the radio this morning that it is the responsibility of the country hosting the games.  And that in this go round China has gotten off cheap with their medals like they do their toys.  The gold medals are supposed to be made of a certain percentage of gold and they're usually plated over silver.  But rumors are that China made their medals in over 90% lead....so first place athletes are being warned to be careful when handling their medals.  More Olympics drama for ya!

Answer 2

I believe the host country is responsible for designing the medals, but the IOC pays for them.

Answer 3

The host country is responsible for the medals, or at least that is what I heard mentioned during one of the televised Olympic competitions.  Here  is what I have found although it does not address who actually pays for the medals.

While the host city’s organizing committee is responsible for the design of the gold, silver, and bronze medals, the specifications of those medals must conform to the IOC’s specifications. All the medals have to be at least 60 millimeters in diameter and three millimeters thick. Gold and silver have to be made of 92.5% pure silver with the gold gilded with at least six grams of gold. So how much should one of these babies costs? My calculations put the minimum cost of the precious medals in an Olympic gold at $138.24 and for the Olympic silver at $25.60.

Answer 4

IOC, International Olympic Committee

Answer 5

that's what my mom asked me last night. i believe it is the IOC since they are the organizers of the international games.