Is it against Olympic rules to sell a medal?

[Mangosteen]

If an athlete found themselves on hard times, could they sell an Olympic medal that they had won years before?

Has this happened?

I don’t know how large the medals were at the time, but during (and before) the 1912 Olympics in Stockholm, the gold medal was actually made from 24 K gold. That would bring some nice cash today even in melt value.

[friedo]

It is officially against the rules, but people do it anyway. Medals occasionally come up for sale at estate auctions or among collectors.

[Iggy]

Not sure if it is against the rules but I found an old USA Today article about a Cuban gold medalist selling her Olympic medal on EBay.

[Telperion]

@Mangosteen

I don’t know how large the medals were at the time, but during (and before) the 1912 Olympics in Stockholm, the gold medal was actually made from 24 K gold. That would bring some nice cash today even in melt value.

Well, probably not as much as you’d think. The medals were a lot smaller 100 years ago and weighed only 24 grams, which is about three quarters of a troy ounce. Hence, the gold value would be around $1,200 at today’s prices.

[IAmNotSpartacus]

Good thing the IOC/USOC are not bastards like the American Academy of Motion Picture Arts and Sciences.

[Peremensoe]

Against the rules? What rules? How can anyone presume to tell someone what they can do with a prize after it is given?

[IAmNotSpartacus]

Make them sign an agreement giving the issuer of the medal right of first purchase for $1… in the case of the Academy anyhow…

[Peremensoe]

Mm. I wouldn’t call that a “given” prize. But nevermind terms. Is there in fact any such written legal contract for Olympic medals? I’ve heard of several sales, never a whisper of a question about it.

[postcards]

Rick Harrison (Pawn Stars) has a couple.

[kayaker]

Tangentially, a number of football players have sold/pawned Superbowl rings.

Steelers running back Rocky Bleier sold his four Super Bowl rings for $40,000 in 1996 in a bankruptcy-and-divorce procedure and was allowed to “lease” them for $1,368 a month over three years to get them back; Cowboys linebacker Thomas “Hollywood” Henderson had his Super Bowl XII ring seized to pay back taxes. Giants wide receiver Bob Johnson pawned his Super Bowl XXI ring in Nashville for $500 and never retrieved it. Raiders defensive back Skip Thomas pawned his Super Bowl XI ring in a futile attempt to save his house from being sold by creditors.

[Czarcasm]

What are they worth(outside of historical value)? From Wiki:

@Wiki

First place: It is composed of 550 grams of silver (at least 925 grade) covered with 6 grams of pure gold (worth approximately $800 as of July 29,2012).
Second place: It has the same composition as the first place medal without the gilding (worth approximately $500 as of July 29, 2012).
Third place: It is mostly copper with some tin and zinc (worth approximately $3)

[Dahu]

Tommie Smith tried to sell his 1968 200m medal.

Tommie Smith's 1968 Olympic Gold Medal and 200M Worn Pumas - Moments In Time

Hard to find what happened, but as far as I can tell there were no offers at the minimum price and it was withdrawn from sale.

[Czarcasm]

Looks to be perfectly legal, and even the Olympic Committee is in on it. Some medals have even been auctioned off for charity.

[Toxylon]

The Greatest Ski Jumper Ever, Matti Nykänen, planned to sell his medal collection, including four Olympic gold medals, after hitting hard times. A national movement ensued to keep the treasure in Finland, and they ended up in the Finnish Museum of Sports.

[Hail_Ants]

@Toxylon

The Greatest Ski Jumper Ever, Matti Nykänen, planned to sell his medal collection, including four Olympic gold medals, after hitting hard times. A national movement ensued to keep the treasure in Finland, and they ended up in the Finnish Museum of Sports.

Am I the only one who, when I read “The Greatest Ski Jumper Ever…” thought you were going to be talking about Vinko Bogataj?