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.
It is officially against the rules, but people do it anyway. Medals occasionally come up for sale at estate auctions or among collectors.
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.
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.
Good thing the IOC/USOC are not bastards like the American Academy of Motion Picture Arts and Sciences.
Against the rules? What rules? How can anyone presume to tell someone what they can do with a prize after it is given?
Make them sign an agreement giving the issuer of the medal right of first purchase for $1… in the case of the Academy anyhow…
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.
What are they worth(outside of historical value)? From Wiki:
Tommie Smith tried to sell his 1968 200m medal.
http://www.momentsintime.com/Tommie%20Smith.htm
Hard to find what happened, but as far as I can tell there were no offers at the minimum price and it was withdrawn from sale.
Looks to be perfectly legal, and even the Olympic Committee is in on it. Some medals have even been auctioned off for charity.
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? 