[Alberta's Child]

I thought so, until I saw that the gold medal has a value of $25,000 and the silver medal is $15,000. These values don’t seem to correspond to precious metal prices unless they use a lot more silver than gold in those medals!

[Alter Kaker]

I thought so, until I saw that the gold medal has a value of $25,000 and the silver medal is $15,000. These values don’t seem to correspond to precious metal prices unless they use a lot more silver than gold in those medals!

There's no tax on the medal itself (well there might be, but depends on the value of the medal), but there's a tax on the cash prize that the US Olympic Committee hands out to athletes. That cash prize, which is not tax free, is where they get the $25k figure...