Functions and Roles of Commemorative Olympic Coins

Public Benefit

Issuing Olympic coins is one of the most effective approaches for a host country to raise funds for the Olympics. The issuance and distribution of the coins is authorized and approved by the IOC, BOCOG and the individual Olympic Committees for each nation. As a result, and in accordance with international common practice, the specific issuing and distributing organizations and companies of Olympic coins pay a royalty that goes to the Olympic Movement. This royalty will, together with other sponsored funds, be used for Olympic sports, including construction of gymnasiums, purchase of facilities and so forth.

Function of Popularization

The issuance of Olympic coins publicizes and carries forward the Olympic spirit to the maximum, a way to visualize the abstract Olympic ideology and the cultural connotation of the Olympics. Among Olympic coins issued before, each nation used the Olympic Rings Symbol and combined it with history, culture and local customs and practices, publicizing culture and nature of the host country. The materials of the Olympic coins usually includes platinum, gold, silver and copper. This mintage of Olympic coins makes the Olympic spirit strike deep roots in the hearts of people.

Role in Social Economy

Hosting the Olympic games has become an indispensable role in economic development of the host country. Issuing Olympic coins is one of the channels through which the host country acquires economic earnings. For example, the sales volume of the XV Helsinki Olympic Games was 37.85 million USD; the XVIII Tokyo Olympic Games, 1.03 billion USD; the XX Munich Olympic Games, 0.96098 billion USD; the XXII Moscow Olympic Games, 0.306 billion USD; the XXIV Seoul Olympic Games, 0.276 billion USD; the XXV Barcelona Olympic Games, 0.368 billion USD; the XXVI Atlanta Olympic Games, 0.10237 billion USD. Although the main objective of issuing Olympic coins has been to promote the Olympic spirit and national image, the function of raising funds cannot be ignored.

Embodiment of Currency Culture and Collection Value

Olympic coins have always been the legal currency of the issuing country. It has been a time-honored tradition for people to collect Olympic souvenirs and Olympic coins, which are extremely preferred by the collecting circle because the material is easy for preservation and storage. Many collectors understand knowledge and history of Olympic sports and have artistic enjoyment by collecting Olympic coins. In addition, detailed preparations are often made in terms of design and minting quality, i.e. the engagement of outstanding artists/designers and top quality control efforts of the national mints. As a result, Olympic coins often represent some of the best artwork, history and culture of a nation, therefore increasing the value. To this end, coin collectors and investors all over the world regard Olympic coins as the excellent articles of collection and investment.