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How much are Olympic medals actually worth?

Olympic medals are worth a lot less than you might expect.

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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