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The Gold In All The Oscars In The World Equals 29.5 Ounces Or $36,000

(Kitco News) - The Academy awards will be hosted this Sunday and we couldn’t let you start the weekend without a few fun facts you can share with your friends during the weekend.

The Oscar was first presented at the first awards banquet in 1929 to Emil Jannings, who was named best actor for two performances “The Last Command” and “The Way of All Flesh.”

Since then 2,947 statues have been handed out. But interestingly enough the shiny gold statue is very deceptive. It is actually a bronze statue that is only plated in 24 karat gold and then polished to a glossy finish.

The facts feel a little disappointing for all the prestigious that comes with it. According to visualcapitalist.com each statue contains only a thin layer of gold about 0.38 micros 200 times less than the width of a human hair. The melt-value of the gold is only about $57.40, representing about 0.01 of an ounce.

So if you melted all the statues that have been handed out you would have about 29.5 ounces of gold, worth about $35,953.40 at today’s price around $1,220 an ounce..

According to Visual Capitalists, it would cost you a lot more to round up all those statues. In 1999 Michael Jackson payed more than $1.5 million for the Oscar for the 1939 best picture – Gone With The Wind.

One final thought, Shaq deserves an Oscar for his latest performance.

Courtesy of: Visual Capitalist and JMBullion

 

By Kitco News; nchristensen@kitco.com
Follow Kitco News @KitcoNewsNOW

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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