What you see: The Olympic gold medal awarded to John Haskell “Tex” Gibbons for his role in propelling the United States basketball team to victory in 1936. Gibbons was 28 at the time. The medal is double-sided and gold-plated and measures just over two inches in diameter. It comes with a letter of authenticity from his family and ephemera that he gathered on his Berlin adventure. Grant Zahajko estimates the 1936 Olympic basketball gold medal at $100,000 to $150,000.
Who was John Haskell “Tex” Gibbons? He was a 6’1″ inch guard who played professional basketball years before the NBA arrived. He was on the team at Southwestern College, in Winfield, Kan., and moved on to the Amateur Athletic Union (AAU), playing for the McPherson Globe Oilers. He earned his nickname from the state where he was raised. He died in 1984 at the age of 76.
Why was the 1936 US Olympic basketball team important? “1936 was the first time basketball was an Olympic event,” Zahajko says, adding that more than 20 countries fielded teams and James Naismith, creator of the game, then 74, crowned the winning team with laurels.
What did the Americans have to do to win? “Hitler was not aware of basketball and didn’t give it much recognition. He built gyms, but he didn’t build one for basketball. They played on lawn tennis courts,” he says. “They played [the Olympic final] in a downpour. They couldn’t dribble. They could only pass. It was a low-scoring game.” The U.S. squelched its way to the gold, defeating Canada 19-8.
Are Olympic medals from 1936 more valuable than those from other years? “1936 medals are very sought-after, even gold medals with no attribution,” he says, referring to those that come to market without related material that proves who earned them. “It’s because of the importance of that Olympics, and how tense and charged it was. Hitler promised not to push his [regime-glorifying] campaign, but he did not hold to that.”
How many other 1936 Olympic basketball gold medals have you handled? “Only three from the 14-man team have ever surfaced, and I’ve had the privilege of touching all three,” he says, alluding to having appraised them. One went to auction at another venue in 2015. It commanded $67,000 despite suffering heavy wear that included having a hole drilled at the top so it could be worn as a necklace. The Gibbons medal is in far better condition. “It’s no longer in its original box, but it’s been well-cared for,” Zahajko says.
How to bid: The 1936 Olympic basketball gold medal is lot 110a in the Sports Cards and Memorabilia, Autographs, Entertainment, Transportation & More! sale offered by Grant Zahajko Auctions on June 24, 2017 in Spokane, Wash.
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