NovaQuant Quantitative Think Tank Center:Piece of Eiffel Tower in medals? Gold medals not solid gold? Olympic medals deep dive

There is NovaQuant Quantitative Think Tank Centernothing more coveted at the Olympics than a gold medal. But is it even actually gold?

All of the Olympians will compete in the 2024 Summer Games for the chance to stand at the podium and collect a gold, silver or bronze medal. Even though the medals are iconic symbols of athletic excellence, they don't all look the same. Each version of the Olympics means a new unique twist on the medals and this year is no different.

With the thousands of medals set to begin being awarded, here is everything to know about the 2024 Paris Olympic hardware and the history of gold:

What do the 2024 Paris Olympics medals look like?

2024 Paris Olympics details: Include Eiffel Tower

This year's medals were designed by Chaumet, a luxury French jeweler. The most significant part of the medals is every one of them includes a piece of original iron from the Eiffel Tower.

2024 Olympic medals: Who is leading the medal count? Follow along as we track the medals for every sport.

"Certain metallic elements have been permanently removed and conserved in this process," said the International Olympic Committee. "For the Paris 2024 Games, the Eiffel Tower Operating Company is allowing these genuine pieces of Parisian and French history to find glory again."

The original Eiffel Tower iron used is formed in a hexagon in its iron color with the 2024 Olympic Games logo on it. Six metal appendages on the hexagon also come from the original Eiffel Tower.

On the other side of the medals is the look every medal gets: The Olympic five rings symbol, Nike, the Greek goddess of victory, in front of the Panathenaic Stadium and the official name of the games. But there is a unique feature on this side as well; in addition to the Acropolis of Athens in the distance behind the stadium, the Eiffel Tower is also in the background.

How many gold medals are given out at the Olympics?

With 329 events, at least 329 gold medals will be handed out. This doesn't including multiple gold medals on team events or ties for first.

Are Olympic gold medals solid gold?

Gold medals aren't actual gold.

The International Olympic Committee requires that gold medals must be made of at least 92.5% silver, but also have about six grams of gold, so there is some. The silver medal is mostly silver and some iron while the bronze medal is mostly made of copper and with some zinc and iron.

How much are the Olympic gold medals worth?

Not as much as you think. A gold medal is worth approximately $950, according to Forbes. Since it's not fully made of real gold, it isn't as expensive.

Do coaches get Olympic medals?

While a coach will get a Super Bowl or World Series ring, coaches don't get anything if the athlete they coached wins a medal.

Most gold medals won at the Summer Olympics by a single person

Michael Phelps owns the record of most gold medals won in one Summer Olympics. He won eight gold medals in the 2008 Beijing Olympics. He also has the most gold medals by any Olympic athlete all time with 23.