Thousands of athletes competing in Milan Cortina, all in pursuit of an elusive gold medal. Household names like Mikaela Shiffrin, Chloe Kim and Ilia Malinin are hoping to add to their legacies with Olympic golds. Meanwhile, the magic of the Olympics means there’s bound to be inspiring comebacks and breakout stars who emerge atop the podium.  Olympic medals are one of the many ways host cities distinguish themselves, often adorned with culturally and historically-significant elements. The Milan Cortina medals, released this past July, are no different.  Here is a look at the history of Olympic medals, what the Milan Cortina committee has in store for the 2026 Olympic medals and where the iconic hardware ends up down the road.  What do the Milan Cortina 2026 medals look like? The 2026 medals were crafted by the Italian State Mint using recycled metals and renewable energy — an Olympic first. Each of the three will be split in half, which is a metaphor for the two host cities of Milan and Cortina d’Ampezzo. One side of the medals features the Olympic rings, and the other will be engraved with the athlete’s event and location along with the Milan Cortina 2026 official logo. There will be 735 Olympic medals (245 gold, 245 silver, and 245 bronze) and 411 Paralympic medals (137 gold, 137 silver, and 137 bronze) awarded in Italy this February. Olympic medals are displayed during the unveiling of the Milano Cortina 2026 Olympic Winter Games: Medals Unveiling at Palazzo Balbi on July 15, 2025 in Venice, Italy. Here’s a look back at all the previous Olympic medals: Medals from past Olympics Data and Images: IOCNina Lin and Andrew V. Pestano / NBC Who designs the Olympic medals? Olympic medals are designed by the host city’s committee, typically featuring historical and cultural components specific to that city. The 2026 design team was led by brand and identity director Raffaella Paniè, and they were produced by Italy’s state mint, the Zecca dello Stato. How much are Olympic medals worth? Everything comes with a price and Olympic medals are no exception.  Invaluable to many, CNBC recently calculated the value of each Olympic medal and it’s probably much lower than you’d expect. A gold medal from the Tokyo Olympics was estimated at $820 — $265 more expensive than the first-place prize in PyeongChang three years prior. 2026 Milan Cortina Olympics May 19, 2025 2026 Winter Olympics in Milan Cortina: See dates, sports, how to watch, more 2026 Milan Cortina Olympics Jun 16, 2025 Get to know Team USA Olympians ahead of the 2026 Milan Cortina Olympics 2026 Milan Cortina Olympics Jun 9, 2025 How to watch the 2026 Olympics in Milan Cortina Where do athletes store their Olympic medals? Olympians store their medals everywhere from bank vaults to underneath their pillows. Meanwhile, others opt to auction off their medals down the road for big money. Shiffrin told NBC that she stores her medals in her sock drawer. Meanwhile, Christie Pearce (formerly Rampone) stashes her three Olympic medals in pots and pans throughout her kitchen. And if you’re Michael Phelps and have a record 28 Olympic medals, one or two of them might get lost in the shuffle.  Every once in a while, medals won under historic circumstances hit the open market. In 2013, one of Jesse Owens’ iconic Berlin gold medals won in front of Adolf Hitler was sold for a record $1.47 million. In some cases the proceeds of the sale have gone to fund personal health or humanitarian causes, such as the case of Ukrainian boxer Wladimir Klitschko, who sold his 1996 Olympic gold medal for $1 million to put toward supporting orphans in Ukraine.  What happens if a medal is stolen or lost? There are no shortage of wild stories that involve mishaps and misfortunes of Olympic medals. Stolen in a home burglary? Check. Lost in a house fire? Tragically, it happened. Accidentally sent it to the dry cleaners? Just ask Shaun White. Luckily for these athletes, they were eventually able to recover their Olympic prize. This might come as a surprise to some, but this is actually a relatively common occurrence. In fact, the IOC estimates that they receive at least one or two requests for replica medals each Olympics.  When an Olympic medal is lost or stolen, an investigation is typically launched to try to locate the missing item. However, if that’s unsuccessful, athletes can pay to have a medal reproduced for anywhere between $500 and $1200. But there’s a catch: Replacement medals are inscribed with the word “replica” in the corner.  Up through the 2020 Tokyo Olympics, U.S. athletes had the assurance of Liberty Mutual insurance to cover the medal replacement cost. Who started the tradition of biting medals? One of sports’ most iconic photo ops likely began a century and a half ago as a way of authenticating real gold during the California Gold Rush. Gold is a softer, more malleable metal that bends slightly under stress, or in this case bite marks.  For Olympians – and photographers –  it’s all about the tradition. And that’s because … Are Olympic medals real gold? No, pure-gold medals haven’t been awarded at the Olympics since 1912. That hasn’t stopped hundreds of medalists from posing with their prize between their teeth every Olympics.  In rare cases, this silly tradition backfires. In 2010, German luger David Moeller bit into his silver medal, only to discover a chipped tooth later that night.  Who are the most decorated Winter Olympians? Seven athletes have won 10 or more Winter Olympic medals heading into 2026. Norwegian skier Marit Bjørgen, sometimes known as The Iron Lady, is the most decorated Winter Olympian with 15 medals to her name. Close behind her is fellow countryman Ole EInar Bjørndalen, who won 14 Olympic medals in men’s biathlon from 1994 to 2014. Dutch speed skater Ireen Wüst is third on the list with 13 medals, including a gold and a bronze in Beijing 2022 before officially retiring. Another Norwegian, Bjørn Dæhlie, won 12 medals in men’s cross-country skiing from 1992 to 1998. Italian speed skater Arianna Fontana — who will compete in 2026 — has won 11 medals, while Russian cross-country skier Raisa Smetania and Italian cross-country skier Stefania Belmondo have won 10 Olympic medals apiece. The Norwegian trio of Bjørgen, Bjørndalen and Dæhlie are tied for the most gold medals at eight apiece. ...read more read less