"Miracle On Ice" Gold Medal Up For Auction
For the second time in just a week we are seeing another of the world's most prized trophies, an Olympic gold medal, go up for auction. The first 1980 "Miracle on Ice" Olympic hockey gold medal ever offered in a public auction is estimated to sell for $100,000 or more next month. It is being offered in a sports memorabilia auction to be conducted by Heritage Auctions in Dallas, Texas and online on November 5, 2010.
"It is the first time any of the Olympic gold medals awarded to the 20 players of the 1980 'Miracle on Ice' U.S. hockey team that defeated the Soviet Union has ever been offered in a public auction, and it should bring six figures. This gold medal was awarded to Mark Wells, then 21 years old and a center for the U.S. team," said Chris Ivy, Director of Heritage Sports Collectibles.
The gold medal was created by Tiffany & Co. The obverse shows a raised torch framed between the words "XIII Olympic Winter Games" and the Olympic rings. The reverse shown above has a tree with the raised text "Lake Placid 1980" and the engraved lettering "Ice Hockey, Mark Wells." The medal hangs from its original powder blue and white ribbon.
Wells privately sold the medal earlier this year to an anonymous collector who has consigned it to the Heritage auction. The lot includes a letter from Wells in which he wrote: "I hope you cherish this medal as much as I have. I personally cannot think of another piece of memorabilia that has had such a profound effect on the sports world than this precious keepsake."
As CNBC reported earlier this year, "Miracle" memorabilia still sells well. People remain connected to the historic series of events when the U.S. hockey team beat the Soviet Union and went on to victory over Finland in the gold medal game.WalletPop's Rod Dicker however, was skeptical that the Wells medal will hit six figures. Dicker rounded up a variety of other gold medals that have been up for auction recently. The Wells medal has a much higher value than many other simply because of the significance of the sporting event it was won for.