As the months fly by in 2018 towards March, film buffs all over the world wait with baited breath for the 90th Academy Awards – The Oscars, scheduled to take place in Hollywood, California at the prestigious Dolby Theatre. The event will commence at 1700 hours, Pacific Time on the 4th of March, 2018. The event is, of course, the most important film event in the world and notable films of 2017, their actors, directors and a host of other industry professionals will receive awards for their contributions to the world of cinema.
The Oscar statuette
The Academy Awards were started in 1929 and since then the committee has awarded 3.048 statuettes to honour the contributions of not just the great actors and actresses, but also the film professionals for their individual achievements in the field of cinema across the world.
The famous and unmistakable statuette is 13.5 inches in height and weighs 8.5 lbs. The statuettes have always been plated with 24-carat gold. It is important to note that initially the body was actually made of bronze and only plated with gold on the surface.
Since the 1930s, the bronze body was discontinued, and the new choice was an alloy called ‘Britannia Metal’, which was further mixed with a number of metals, including nickel and copper and finally plated with gold. A lot of people mistakenly believe that the entire statuette is made of pure gold. A metal shortage during World War II resulted in painted plaster being used instead of metals for three years. The academy later recalled these statuettes during the post-war period and exchanged them for the gold-plated ones.
In 2016, the academy contracted a New York based company to construct a 3D printed replica from a digital scan of the original 1929 statuette, which was then used to manufacture the new line of Oscars. Bronze is being used again in order to take the design back to its original version.
The price of the Oscar gold
The Oscar award is worth a lot more than its weight in gold they say.
This is literally quite true. The actual production cost of an Oscar is only $400. If the entire gold plating on the statuette was melted and sold, it would fetch a paltry $57, or thereabouts. Believe it or not, this is because the gold plating on the statue is approximately 200 times thinner than a human hair at 0.38 microns! However, while the Oscars may not be worth their weight in gold, their collector value is immense. The academy has a clause in place wherein every winner signs a clause that gives the academy the first right of refusal at a price of $1 if a winner wanted to sell their statuette. In spite of that, 75 statuettes have reportedly been sold and the estimated market price is close to a million and a half USD.
Call us to know more about investing in gold
While you may not win an Oscar anytime soon, it’s heartening to know that there’s not much gold in it anyway! However, we want to ensure that your investments aren’t made in the same way. If you want to discuss your gold investments, please call us on 020 7060 9992 or get in touch with us online to discuss your investments in precious metals.
Image Credit: Prayitno Photography