Pavelich's 1980 Lake Placid ice hockey gold medal is the second to be sold through the Texas-based auction house, Heritage Actions, following the sale of team mate Mark Wells' medal in 2010.

That medal went for $310,700 (£185,128/€224,884) to a private collector as Wells was seeking finances to pay for medical treatment.

Pavelich, 56, was, according to Heritage Auction's sports director Chris Ivy, selling the medal in order to "help his kids out with education, the trust and that kind of thing".

Mark Pavelich made two assists in the United States' dramatic victory over the Soviet Union in the 1980 Lake Placid ice hockey final round encounter ©Bruce Bennett Studios/Getty ImagesPavelich earned two assists in the United States' dramatic victory over the Soviet Union in Lake Placid, one of them on the game-winning goal by fellow forward Mike Eruzione.

"You can't say that you never did win a medal just because you don't have it anymore," Pavelich said.

"You always can say that you got it."

He also said he had some other items from his hockey career that he was considering auctioning off in the future, but none would be from his five seasons with the New York Rangers.

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