<P> The Nobel Prize (/ ˈnoʊbɛl /, Swedish pronunciation: (nʊˈbɛl); Swedish definite form, singular: Nobelpriset; Norwegian: Nobelprisen) is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances . </P> <P> The will of the Swedish scientist Alfred Nobel established the prizes in 1895 . The prizes in Chemistry, Literature, Peace, Physics and Physiology or Medicine were first awarded in 1901 . Medals made before 1980 were struck in 23 carat gold, and later from 18 carat green gold plated with a 24 carat gold coating . Between 1901 and 2016, the Nobel Prizes and the Nobel Memorial Prize in Economic Sciences were awarded 579 times to 911 people and organisations . With some receiving the Nobel Prize more than once, this makes a total of 23 organisations, and 881 individuals . </P> <P> The prize ceremonies take place annually in Stockholm, Sweden (with the exception of the peace prize, which is held in Oslo, Norway). Each recipient, or laureate, receives a gold medal, a diploma, and a sum of money that has been decided by the Nobel Foundation . (As of 2017, each prize is worth SEK 9,000,000 or about US $1,110,000, € 944,000, £ 836,000, INR 72,693,900 Or CNR 376,000 .) The Nobel Prize is widely regarded as the most prestigious award available in the fields of literature, medicine, physics, chemistry, peace, and economics . </P> <P> The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics, the Nobel Prize in Chemistry, and the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel; the Nobel Assembly at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine; the Swedish Academy grants the Nobel Prize in Literature; and the Nobel Peace Prize is awarded not by a Swedish organisation but by the Norwegian Nobel Committee . </P>

What do you get with the nobel peace prize