Wednesday, June 6, 2018

Putting a price tag on the most coveted trophy in hockey

The Stanley Cup is the most coveted trophy in hockey. And every year, professional hockey teams across the United States and Canada battle it out in hopes of winning this stunning prize and become a part of history. And while many people know and love everything that the Stanley Cup represents, not many people know the history of the cup’s creation and how it got to where it is today. Along with that, even fewer people know that the Stanley Cup not only has an intrinsic value, but an inherent one as well. That’s right - even though the trophy is considered priceless, there is a definite value attached to it.

The cup stands at 35¼ inches tall and weighs around 34 pounds. And, surprisingly, the Stanley Cup is made out of 459 troy ounces of pure silver. The metal content alone gives the Stanley Cup a lot of value, but it’s rich history and appeal to hockey fans the world over make that value skyrocket.
The Stanley Cup was named after the Lord Stanley of Preston, who was appointed as the Governor General of Canada in 1888 by Queen Victoria. Once he and his family moved to Canada, he developed a passion for ice hockey and grew to champion the sport. But, it was really his sons that took hockey from a popular hobby to a proper sport.
Lord Stanley’s sons were instrumental in the formation of the sport of hockey. For instance, they collectively created one of the first hockey teams in Canada, established the Ontario Hockey Association, and started ice hockey in Great Britain. But they felt that there was still something missing. That’s where the Lord Stanley makes history.
Lord Stanley gave them an elaborately decorative bowl . He bought it for around $50.00, which would equal around $1,300 in today’s society. He had the words "Dominion Hockey Challenge Cup" engraved on one side of the outside rim, and "From Stanley of Preston" on the other side. And, even though he made one of the most important investments into the sport, Stanley never actually saw a Stanley Cup championship game, and he never had the opportunity to present the cup to a winning team.
One of Lord Stanley's original conditions of the trophy was that each team could add a ring to the cup to commemorate their victory, and that’s a tradition that has followed in varying degrees to the present day. If you look closely at the trophy, you can see much of the journey that the Stanley Cup, and ultimately, the sport of hockey, has been through since the 1800s.
Based on the current spot price of silver, the Stanley Cup would set you back over $7,500.
Thursday night in Las Vegas, the Washington Capitals could close out the Golden Knights and claim their first Stanley Cup title and Lord Stanley's decorative bowl will make its way to Washington, D.C.


Dorothy Wentworth said...

Not really an ice hockey fan, but found this article very informative. thank you.

Dorothy Wentworth said...
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