Michael Phelps - How much are Michael Phelps’s gold medals really worth? Olympic gold medals have a tiny but dedicated collector following. A single medal from a modern Olympiad is worth upward of $30,000, depending on the athlete. Ukrainian boxer Wladimir Klitschko sold his 1994 medal for $1 million in 2012. Mark Wells, a member of the 1980 “Miracle on Ice” U.S. hockey team, sold his in 2002 for $40,000.