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How much are Olympic medals actually worth?

Olympic medals are worth a lot less than you might expect.
PyeongChang 2018 Olympic Games medals are unveiled at the Seoul Dongdaemun Design Plaza on September 21, 2017 in Seoul, South Korea.

Standing atop the podium at the Olympics is a priceless memory and experience for athletes. But the medals they receive aren't actually worth that much.

A gold medal from the PyeongChang Olympics is only worth about $550 to $600, while a silver medal is valued around $300 to $350, according to the Tax Institute at H&R Block.

But those are high-priced commodities compared to the bronze PyeongChang medal which is worth only about $4 to $5.

If put up for auction those medals will fetch a much steeper price tag of course.

The PyeongChang 2018 Olympic medals are displayed during their unveiling at a ceremony in Seoul on September 21, 2017.

Jonathan Scheier with Heritage Auctions recently told Time that a gold medal typically sells today at auction for between $20,000 and $50,000.

Team USA athletes who make it on the podium also collect cash prizes from the U.S. Olympic Committee ranging from $15,000 for each bronze medal, to $22,500 for silver and $37,500 for each gold medal earned in PyeongChang.

While the medals themselves aren't worth that much, becoming a top Olympian also opens up athletes to a slew of endorsement opportunities that can well exceed the medal value and prizes.

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