An Olympic silver medal is not composed entirely of the precious metal for which it is named. Regulations dictate that it must be made of at least 92.5% silver, the standard for sterling silver. However, this is only a component of its overall composition.
The actual quantity of the precious metal is important for understanding the intrinsic value of the award. Historically, the composition of medals has varied across different Games. Modern Olympic silver medals are primarily made of silver, with a small amount of other metals used for alloys and plating.