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The 1940 Masters Tournament runner-up medal given to Lloyd Mangrum has been sold at auction for $9,775.

Kenley Matheny, president of thegolfauction.com, said that price included a 15 percent buyer's premium.

Only one bid came in for the silver medal, and it matched the reserve price of $8,500. The auction did not end until after midnight Sunday, according to Matheny.

To read the complete article, see: Masters medal sold at auction (chronicle.augusta.com/stories/2009/11/24/gol_556953.shtml)

Gold is out and silver is in, at least for an online auction house that is selling Lloyd Mangrum's 1940 runner-up medal from the Masters Tournament.

Mr. Mangrum's grandson produced the original silver medal after hearing about a gold replica being discovered in October.

Larry Brooks, of McIntosh, N.M., found a gold coin in the bottom of a golf bag he purchased for $5 at a thrift store. The coin was inscribed with Mr. Mangrum's name and featured Augusta National Golf Club's distinctive logo of the outline of the United States with a flagstick marking Augusta.

However, only winners of the Masters receive gold medals, and those who finish second receive silver ones. An online site, thegolfauction.com, put the gold medal up for sale with a reserve of $8,500 while continuing to investigate its origins.

That's when Mr. Mangrum's grandson, who lives in the Albuquerque, N.M., area, stepped forward. He said the coin had been passed on to his mother, who was one of the golfer's three children, and she gave it to her son.

He made two gold replicas, at a total cost of about $400, and used them as markers for his ball when playing golf, he said. He gave one to a friend, but it was lost when his golf bag was stolen from his truck about 12 years ago. It turns out that same bag is the one Mr. Brooks found for sale near his home.

The online auction house verified the story of the grandson, who asked it not to identify him, and replaced Mr. Brooks' gold coin with Mr. Mangrum's silver one.

"I'm just glad we were able to get on this and figure out what the real story of the medal is," said Kip Ingle, the marketing director for the Atlanta-based site.

Masters items of that caliber are rare, Mr. Ingle said. The gold medal given to 1941 Masters winner Craig Wood fetched "well into five figures" when it was auctioned a few years ago, he said.

To read the complete article, see: Masters runner-up medal auction ends tonight (chronicle.augusta.com/stories/2009/11/22/gol_556694.shtml)