By Gary Anderson

August 13 - JERRY LucasAmerican basketball great Jerry Lucas is set to auction off his 1960 Olympic gold medal which is expected to sell for at least $250,0000 (£161,000/€189,000) as part of a number of pieces of memorabilia from his career in the sport.

Lucas, 73, was part of the United States basketball team that includes fellow Hall of Famers Oscar Robertson, Walt Bellamy and Jerry West, that defeated arch rivals the Soviet Union in the final at the 1960 Rome Olympics.

That gold medal is expected to be the most sought after piece of memorabilia and has a starting asking price of a quarter of a million dollars, while the former New York Knicks player's 1973 National Basketball Association (NBA) Championship ring is also expected to attract a great deal of interest.

jerry-lucas-gold-medal-2The Rome 1960 Olympic gold medal won by Lucas has a starting price of $250,000

The number 11 jersey worn by Lucas in 1960 is also part of the 17-piece collection that will be auctioned off by Grey Flannel Auctions, which also includes a 1980 Hall of Fame Induction Ring, NBA Top 50 Greatest Players Ring and a 1960 Ohio State National Championship Ring as well as a number of other game-used jerseys.

"Things don't mean a lot to me," Lucas told a local newspaper.

"They never have.

"I have real great memories associated with them, but they're hard to see when they're in a closet."

Jerry Lucas left in action for the New York Knicks with whom he won a National Championship in 1973Jerry Lucas left in action for the New York Knicks with whom he won a National Championship in 1973

The seven-time NBA All-Star who was named Rookie of the Year in 1964 said that it was "the right thing to do at this time" to sell the collection as he could not divide the items fairly among his family before adding that he was not a sentimental person and would not be shedding too many tears when he parts company with the memorabilia.

A spokesman for Grey Flannel Auctions said every item will have a minimum bid, and if they only brought their reserve, they would sell for $531,500 (£342,000/€400,000), and each item will come with a hand signed letter from Lucas as well as a Naismith Memorabilia Basketball Hall of Fame letter of authenticity.

The auction is due to be held on September 7 and can be previewed by clicking here.

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