http://www.threedollarsquirrel.com/gold-silver/
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What made winners get Gold, Silver, and Bronze medals or trophies?
Of all the metals or substances available, why do we use gold, silver, and bronze in awarding people? What traits does these metals have that made them the rewards in winning or in being outstanding?
Gold and silver have always been prized because of their relative scarcity, so it's easy to see why gold would go to a first-place winner and silver to the runner-up.
Bronze, however, is a little less easily explained.
It's an alloy primarily consisting of copper and tin, and was first awarded in the 1904 Olympics--before then, there were only gold and silver medals awarded.
In history, bronze was originally used to make weapons, so I suppose it could be thought of as symbolic of strength. Since it was also used for jewelry and other ornaments, it could also be considered aesthetic.
Of course, all this is mere supposition on my part, but I found your question quite interesting.
Why Gold & Silver? FULL MOVIE - Mike Maloney Tells All