LATE CLASSICAL TO HELLENISTIC PERIOD, CIRCA 4TH-3RD CENTURY B.C.

Unlike in the modern iteration of the festival, the ancient Olympics only had one winner per competition. Wild olive trees were native to Olympia, the site of the festival, and the arbiters of the games awarded their wreaths (called kotinoi in Greek) to the victor in each event. The association between the olive tree and physical prowess harkens back to a myth of young Herakles, who managed to kill the Cithareon lion using only his fists and a wooden stake from an olive tree. Gold wreaths such as the present example derive from these wearable trophies, but the fragility of the material makes it unlikely that those made from precious metal were meant to be worn in daily life. Rather, they were more likely dedicated in sanctuaries or placed in graves as funerary offerings.
For a discussion on gold wreaths, see Williams and Ogden, Greek Gold: Jewellery of the Classical World, pp. 36-37, where the authors note, “The most elaborate items of jewellery were usually made for the adornment of the head...[These gold wreaths] are known from burials in Macedonia, South Italy, Asia Minor and the North Pontic area” (pp. 36-37 in op. cit.). For another example of a gold wreath with olive leaves see Museum of Fine Arts Boston acc. no. 67.88.