How Much Are Asteroids Really Worth?

Popular media love talking about asteroid mining using big numbers. Many articles talk about a mission to Psyche, the largest metallic asteroid in the asteroid belt, as visiting a body worth $10000000000000000000, assumedly because their authors like hitting the “0” key on their keyboards a lot. But how realistic is that valuation? And what does it actually mean? A paper funded by Astroforge, an asteroid mining start-up based in Huntington Beach, and written by a professor at the Col