Gold medals only contain 1.34% gold (around 6 grams). 92.5% of a gold medal is actually silver while the rest is copper. The silver medal itself is also 92.5% silver, but it has no gold (obviously). Bronze medals are 97% copper, 2.5% zinc and 0.5% tin.
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Yes they were. The last Olympic gold medals that were made entirely out of gold were awarded in 1912 in Stockholm. They are currently plated gold