The gold, silver and bronze medals will all be produced by the Royal Mint

Around 4,700 gold, silver and bronze medals are planned for production at the Mint’s headquarters in Llantrisant, Rhondda Cynon Taf. The location in south Wales is set to benefit from an influx of jobs, supply contracts and business.

Paul Deighton, the London 2012 chief executive, said, ‘We’re delighted to be working with the Royal Mint, a company established in the UK for 1,100 years, to produce the London 2012 victory medals.

‘The Olympic and Paralympic medals are presented to elite athletes at the biggest sporting event in the world on an individual’s pinnacle career moment and we’re pleased to announce that they will be produced in south Wales.’

Designs on the medals vary for each games and UK-based artists are now being shortlisted. At the last Olympics in Beijing Chinese producers were the first to use jade in the design of the medals, which appeared as a “bi” or ring on the reverse.

By James Massoud