Vin Baker's gold medal from the 2000 Olympics in Sydney sold for $67,642 on Thursday morning.
The medal, sold by Grey Flannel Auctions, is believed to be the first publicly sold Olympic gold medal of a pro U.S. men's basketball player since NBA players started playing in the Olympics, beginning with the "Dream Team" in 1992. Carmelo Anthony's bronze medal from the 2004 games sold in June for $14,080.
Michael Russek, director of operations at the auction house, said that Baker sold the medal, which comes with letters of authenticity from the player himself, to the person who consigned the medal for the auction.
Baker, who played with six teams including the Seattle Supersonics and the Milwaukee Bucks from 1993 through 2006, averaged 8.0 points a game for Team USA at the Games in Sydney.
Although Baker said he earned $105 million in his NBA career, he experienced financial trouble soon after his career ended. Baker's mansion and restaurant were foreclosed on in 2008.
One of Jesse Owens' gold medals from the 1936 Games sold for $1.4 million last year, the record for an Olympic medal sold at auction.