Your Ultimate Information Platform

Priceless? Even Olympic Medals Can Be Had for the Proper Value



A silver medal in taking pictures from the 1900 Olympics in Paris not too long ago offered for a mere $1,283.

Then there was a bronze medal from the 1956 Winter Video games in Cortina d’Ampezzo, Italy, that fetched $3,750.

However it was a first-place silver medal from the primary fashionable Olympics in Athens in 1896 — there have been no gold medals then — that commanded six figures on the eve of this 12 months’s Video games. It offered for $180,111, based on RR Public sale, the Boston-based public sale home that dealt with all three gross sales.

Regardless that their sentimental worth could also be priceless to the athletes who put on them round their necks, Olympic medals are discovering their solution to pawn retailers and public sale blocks from the rostrum, the place collectors are scooping them up like uncommon cash, comedian books and different sports activities artifacts like baseball playing cards.

“It’s a distinct segment collectible,” Bobby Livingston, an govt vp of RR Public sale, which brokered the sale of the three medals and 18 others on July 22, stated on Sunday. “Those which have come to market lately, there isn’t a glut of them.”

One doesn’t must be Caeleb Dressel, the American swimmer who received 5 gold medals in Tokyo, to gather medals.

Dozens of former Olympians have resorted to promoting their medals through the years. Some have cited monetary hardships, whereas others have stated that they have been motivated by elevating cash for charity.

Invoice Russell, the Boston Celtics legend, will put his gold medal from the 1956 Olympics, when he served as captain of the U.S. basketball staff, on the public sale block this fall.

“I’ve determined to promote most of my assortment,” Mr. Russell stated in a video on the web site of Hunt Auctions, the Exton, Pa., public sale home that may deal with the sale of his medal, a few of his N.B.A. championship rings, a warm-up jacket and different memorabilia.

Mr. Russell says that a few of the proceeds will go to MENTOR, a charity that he co-founded that promotes youth mentorship alternatives. A donation can even be made to a social justice initiative created by the Celtics.

Whereas the names of Olympians will not be engraved on medals, names matter, and so do the circumstances related to athletic feats, public sale consultants stated.

A gold medal received by an unidentified member of the 1984 U.S. basketball staff, a roster that included Patrick Ewing and Chris Mullin, offered for $83,188 on July 22, RR Public sale stated.

It was a good-looking sum, however a mere fraction of the almost $1.5 million {that a} collector paid in 2019 for one of many 4 gold medals that have been received by Jesse Owens on the 1936 Summer season Video games in Berlin. The sale value set a document for a chunk of Olympic memorabilia, based on SCP Auctions, the Laguna Niguel, Calif., public sale home that dealt with the sale.

Owens, the Black American observe and subject athlete, delivered a dominant efficiency at these games as Hitler watched.

Along with the origin and possession historical past of collectibles like medals, generally known as provenance, their situation performs an necessary position of their value, public sale consultants stated. Have they got their unique ribbon? Did they arrive with a case?

Not all Olympic medals are engraved with the identify of the game for which they have been awarded, which auctioneers say can cut back their worth whether it is unclear.

In Tokyo, the gold medals received by the athletes overwhelmingly comprise extra silver than precise gold, which makes up about 6 grams of the entire weight of 556 grams, based on the Worldwide Olympic Committee.

That works out to be about $800 in gold and silver in these medals, Philip Newman, a founding associate and managing director of Metals Focus, a London-based analysis agency, stated on Sunday.

“In the event you’re successful, I feel the worth might be irrelevant,” Mr. Newman stated. “I’d be stunned if anybody thought they have been pure gold.”

The silver medals awarded on the Tokyo Video games are constituted of pure silver and weigh 550 grams, which works out to about $450, based on Mr. Newman, who stated that bronze medals could be value considerably much less. They comprise pink brass, which is 95 p.c copper and 5 p.c zinc.

Every medal comes with a wooden case and options the 5 Olympic rings, the official identify of the games and Nike, the Greek goddess of victory, on them, a requirement of the I.O.C.

Some collectors will gladly accept bronze, Mr. Livingston stated.

“They’re nonetheless Olympic medals,” he stated. “Third place continues to be fairly darned good. As a collector, you can begin with bronze in case you don’t have some huge cash.”


Leave A Reply

Your email address will not be published.