'Miracle on Ice' gold medal fetches $262,900

The 1980 U.S. Olympic hockey gold medal belonging to Iron Ranger Mark Pavelich was auctioned for nearly $263,000.

Heritage Auctions of Dallas said it fetched $262,900 on Friday in an online-only sale. The company said it was the second "Miracle on Ice" gold medal to reach the block, the first being Mark Wells', which commanded $310,700 in 2010.

Pavelich is from Eveleth, skated for Minnesota Duluth and played in the NHL, mostly for the New York Rangers and then the Minnesota North Stars and finally the San Jose Sharks for two games in the 1991-1992 season. He now lives near Lutsen and works in land development.

He had two assists in the United States' upset victory over the Soviet Union in Lake Placi, one of them on the winning goal by Mike Eruzione.

The "Miracle on Ice" team's feat has ranked among the greatest sports accomplishments in U.S. history, in particular because of the all-amateur team's unthinkable victory over the heavily favored and well-financed Soviets.

Pavelich was among many Minnesotans on the team and its staff, which was coached by the legendary Herb Brooks.

Heritage sports director Chris Ivy said Pavelich, 56, was not in financial distress but wanted to help his kids with their education.

Bidding began April 25 at $62,500. Heritage Auctions bills itself as the world's largest auctioneer of collectibles.