The Nobel Prize (Swedish pronunciation: [noˈbɛl], Swedish definite form, singular: Nobelpriset; Norwegian: Nobelprisen) is a set of annual international awards bestowed in a number of categories by Swedish and Norwegian committees in recognition of academic, cultural and/or scientific advances. The will of the Swedish inventor Alfred Nobel established the prizes in 1895. The prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace were first awarded in 1901. The related Nobel Memorial Prize in Economic Sciences was established by Sweden's central bank in 1968. The Nobel prize was made of the mixture of gold and silver with 24 carat or 4.8.g gold coating. Between 1901 and 2012, the Nobel Prizes and the Prize in Economic Sciences were awarded 555 times to 856 people and organizations. With some receiving the Nobel Prize more than once, this makes a total of 835 individuals (791 men and 44 women) and 21 organizations.