For the first time in its 165-year history, the Melbourne Cup trophy for 2026 has been made from pure Australian ABC Bullion gold and is valued at over $1 million. The race is set for Tuesday, November 3 at Flemington, with the winning connections set to share
The Melbourne Cup has long been treated like a national ritual, but for the 2026 edition, the trophy itself is stepping into a new league of value.
When the winning horse and its team are finally announced on Tuesday. November 3 at Flemington. they’ll lift a cup that—just this year—has been priced at over $1 million on its own. It’s a historic milestone: the trophy’s worth is rising to the kind of number that changes how people talk about what’s being handed over after 165 years of the race.
Each year, a new Melbourne Cup trophy is made exclusively for that edition. But the 2026 version is different in the one way nobody can miss. For the first time in its history, the trophy has been handcrafted using pure Australian ABC Bullion gold sourced entirely from the Northern Territory.
The Cup has been produced in a way that makes its craft impossible to overlook. It weighs over 1.8kg and contains around 60 ounces of 18-carat gold. The design is built from 44 individually shaped components. giving the trophy the look of something meant to last longer than a single sprint to the finish line.
The announcement came via a post on Instagram by ABC Bullion and W.J.Sandersau. The caption said: “For the first time in its 165-year history. the coveted Lexus Melbourne Cup has been handcrafted using pure Australian ABC Bullion gold sourced entirely from the Northern Territory.” It also marked “another significant milestone for the Cup. ” with the trophy reaching a value of $1 million.
Since 2016, ABC Bullion has been the official trophy manufacturer for Flemington VRC. The full suite of Melbourne Cup trophies is produced by W.J. Sanders craftspeople, and each one is handmade by those teams using Australian ABC Bullion precious metals to exacting VRC standards.
The path of the gold behind the 2026 Cup runs through the Northern Territory before it ever reaches the stage at Flemington. The gold used in the trophy has been sourced from Newmont’s Tanami operation. It is then refined, poured and fabricated in Sydney by ABC Refinery and W.J. Sanders over more than 250 hours of craftsmanship.
For the Northern Territory, that finish line moment carries its own kind of pride. Andrew Cochineas. CEO of Pallion. said: “There is something deeply meaningful about seeing Northern Territory gold brought to life in the form of the Melbourne Cup. From the mine to the finish line, the Cup is proudly Australian.”.
The race itself sits against a recent memory of Melbourne Cup history being rewritten in the saddle. Last year. Jamie Melham became just the second ever female jockey to win the race when she rode Half Yours to the finish line. That victory also gave father-and-son trainers Tony and Calvin McEvoy their first ever Melbourne Cup triumph. Before that. rank outsider Knight’s Choice—ridden by Robbie Dolan—claimed first place for the training duo of John Symons and Sheila Laxon.
This year’s Melbourne Cup arrives with the same anticipation for form and fortune. but now there’s a fresh layer of attention on what the winner will hold. The connections who take home victory on November 3 will receive a share in $4.5 million worth of prize money. and the trophy—worth more than ever before—will be waiting as the ultimate. glittering symbol of the day.
Melbourne Cup 2026 trophy valued at $1 million ABC Bullion gold Northern Territory gold Flemington W.J. Sanders Lexus Melbourne Cup Jamie Melham Half Yours Tony McEvoy Calvin McEvoy