Team GB's Olympic gold medal haul in Paris may be impressive, but the actual value of the precious metal in each one is surprisingly low - just ￡408.59.

       While the athletes were awarded 34 gold medals in total, the medals themselves are not made of solid gold. Instead, they are composed of at least 92.5% silver and coated with a minimum of six grams of pure gold.

       At the current gold price of ￡1,903.45 per ounce, the solid gold content in each medal is worth a mere ￡408.59. This means the total value of the pure gold in Team GB's 34 gold medals amounts to just ￡13,892.06.

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       In contrast, if the gold medals were made of solid gold like they were the last time the Olympics were held in Paris in 1924, their value would be staggering.

       A single solid gold medal weighing 529 grams would be worth ￡35,962 at today's prices. And the 34 gold medals won by British athletes would contain a total of ￡1.22 million worth of gold.

       "The value of Team GB's Olympic gold medals may not be worth their weight in solid gold, but their significance is immeasurable," said Cameron Parry, CEO of gold savings app TallyMoney.

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       The dramatic increase in the value of gold since 1924 - a rise of 44,864% - underscores just how little precious metal is actually in the medals awarded to today's Olympians.

       "This dramatic rise not only highlights gold's resilience and value appreciation over time, but also adds a fascinating layer to the achievements of our athletes," Parry added.

       While the medals may not be as valuable as they once were, the accomplishments of the British athletes who won them remain priceless.