The composition of the second-place prize at the Olympic Games, and many other sporting competitions, is not pure silver. Regulations dictate a high percentage of silver content, but the medal is, in fact, predominantly made of silver alloyed with other metals. This is due to the cost and malleability considerations associated with using only pure silver.
The utilization of a silver alloy allows for increased durability and structural integrity. This practice also helps to manage production costs, making the awarding of silver medals more financially sustainable for organizing bodies. Historically, variations in the precise alloy composition have occurred, reflecting changes in metal prices and material science advancements.