OLGA KORBUT'S OLYMPIC MEDALS SOLD

While the Russian media reported that Olympic gold medalist Olga Korbut sold several of her medals at auction after running into money troubles, Korbut shot down the reports Tuesday and said she's not in "financial crisis."

Three Olympic gold and two silver medals won by the Russian gymnast in Munich in 1972 and Montreal four years later were sold by Heritage Auctions, an international auction house with its headquarters in Dallas.

Elon Werner, director of communications at Heritage Auctions, said 32 lots of Korbut's memorabilia were sold for $333,504.

Some of Korbut's items that sold at auction:

• 1972 Olympic gold medal from the women's team competition — $66,000
• 1976 Olympic gold medal from the women's team competition — $57,600
• Leotard worn in USSR Gymnastics Display — $3,000

A Russian news outlet, gazeta.ru, reported that selling the medals saved Korbut from hunger. But Werner said, "it wasn't a financial decision on her part," adding that Korbut is living comfortably in Scottsdale, Ariz., with her fiance.

Korbut had taken her medals to appearances through the years, sharing them with fans. Her decision to sell the medals was made in the spirit of the Olympics, Werner said.

"She wanted to actually control how those medals went out into the world," he said.

In a statement released by Heritage Auctions, Korbut said she was pleased with the results of the auction.

In 1972, Korbut won three gold medals at the Munich Olympics at age 17. She won the individual balance beam and floor exercise and also took gold in the team competition. She was the silver medalist on the uneven bars.

Four years later, she took home two more medals from Montreal, gold in the team competition and silver on balance beam.

“This is Olympic history, and I would like to share with the whole world,” Korbut, 61, was quoted as saying in the AP story. “They helped to make it history and make it live forever. This is how I wanted to share with the people.”

To read the complete article, see:
Former Olympic gymnast sells gold medals at auction (www.usatoday.com/story/sports/olympics/2017/02/28/olympic-gymnast-sells-medals-after-financial-troubles/98522684/)

To read the earlier E-Sylum article, see:
HERITAGE OFFERS OLGA KORBUT'S OLYMPIC MEDALS (www.coinbooks.org/v20/esylum_v20n07a25.html)

Wayne Homren, Editor

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