Is it true that first-place Olympic medals used to be silver?
Yes. Today, a silver medal represents second place, but when the modern Olympics began in 1896, silver medals were awarded to first place winners. Gold at that time was considered an inferior medal to silver. In 1904, gold medals replaced silver as the prize for first-place winners. The medals given out are not pure gold, though. They’re sterling silver covered with a thin coat of pure gold.