Italy Begins Production of Medals for Milan-Cortina 2026 Winter Olympics

The Italian state mint, Istituto Poligrafico e Zecca dello Stato (IPZS), has officially begun production of medals for the 2026 Winter Olympics, to be held in Milan and Cortina d'Ampezzo. According to Inside The Games, the financial value of these awards will be almost double that of the medals awarded at the Paris 2024 Summer Olympics, amid the accelerated increase in precious metal prices. The medals were unveiled to the public in July and impress with a symbolic design, consisting of two intertwined faces, which suggest the culmination of the Olympic athletes' journey and the support provided by coaches, teams and families on the road to performance.

• Recycled materials, highest quality finishes

Although the metal discs are made by IPZS from recycled materials, recovered through partnerships with companies specializing in waste recycling, officials emphasize that quality standards are maintained at the highest level. The process reflects the organizers' commitment to sustainability, without compromising the symbolic prestige of the Olympic distinctions. "Medals are tangible rewards for intangible efforts,” IPZS CEO Michele Sciscioli told Reuters, emphasizing the importance of balancing tradition, symbolic value and environmental responsibility.

• Rising metal prices, decisive factor

According to Reuters, the price of gold has risen steadily throughout the year, reaching a peak in October, while silver has registered an increase of more than 100% over the same period. This market evolution has directly influenced the material value of the Olympic medals. According to the regulations of the International Olympic Committee (IOC), gold medals are no longer made of solid gold since 1912, but of silver plated with six grams of pure gold. At current prices, each gold medal that will be awarded to Olympic champions at the Milan-Cortina 2026 Games will be worth more than 687 euros just for its gold content. Silver medals are made mainly of genuine silver, combined with an alloy containing copper to increase wear resistance and maintain the metallic luster. Bronze medals, on the other hand - including those awarded at the Paris 2024 Summer Olympics - are made of pure copper.

• Olympic figures: over 1,280 medals

For the 2026 edition, IPZS will produce 1,146 medals for Olympic athletes, plus 137 medals for Paralympic competitions. Their production is one of the symbolic stages of the preparations for the event that will bring thousands of athletes and millions of spectators from all over the world to Italy. In addition to the logistical and symbolic aspects, the medals also reflect the high expectations of Italy as the host nation. The Italian National Olympic Committee (CONI) has set itself an ambitious goal: to surpass the performance of the Beijing 2022 Winter Olympics, where Italian athletes won 17 medals. "After the 17 medals won in Beijing, we have to take 19 medals, at least 19," CONI president Luciano Buonfiglio told AFP, expressing the hope of approaching the historical record of the Italian Olympic team.

Through design, material value and meaning, the medals of Milano-Cortina 2026 are shaping up not just as simple sports trophies, but as symbols of excellence, sustainability and Italian Olympic tradition, in a global context marked by economic transformations and the increasing emphasis on environmental responsibility.