150th Kentucky Derby Trophy: Gold, Rubies, Emeralds, Diamonds

The Kentucky Derby trophy, first presented in its modern iteration in 1924, is believed to be the sole solid gold trophy awarded for a major American sporting event. Hand-hammered from a brick of 14-karat gold, with 20-karat gold adornments, it takes more 2,000 man-hours to produce and months to complete.

Rubies, emeralds, diamonds added to mark 150^th Kentucky Derby

While some owners of previous Kentucky Derby winners had been given valuable “supplemental prizes” (in 1922, the owners of Morvich were given a gold buffet service including a combination loving cup/centerpiece, and two candlesticks) it was not until two years later that Kentucky Derby legend Col. Matt Winn commissioned the Golden Jubilee Trophy to commemorate the 50^th anniversary of the race.

Aside from various jeweled embellishments added in anniversary years, this original design remains in use today, with the one change coming in 1999, when, for the 125^th anniversary of the race, the direction of the 20-karat decorative horseshoe on the trophy was turned so that its ends pointed up instead of down. Racing lore has it that if the horseshoe faces down “all the luck will run out.”

Breaking Down the Components of the Kentucky Derby Trophy

The trophy consists of three main components: a base, made of solid jade and weighing 9 pounds, 3 ounces; the loving cup with horseshoe-shaped handles (and the upside-down horseshoe), and the lid, to which the standing steed and its rider are mounted with tiny screws. The horse and jockey are the only parts of the trophy that are cast from a mold.

Commissioned by Lemon & Son, the oldest retail establishment in Louisville, Kentucky, and crafted by New England Sterling, the 14-karat cup itself is 22 inches high and weighs 67 ounces, which equals 39.195 ounces of fine gold content. Since 1970, when a Troy ounce could be gotten for a low of $34.78, gold first topped the $1,000 mark in 2008, and by 2024 was fetching upwards of $2,200 per ounce.

So, in 2024 prices, the meltdown value of the Derby trophy would be about $85,000.

Kentucky Derby Trophy: A Legacy of Unique Design and High Auction Value

Of course, the historical significance of the piece far outweighs its physical value. Few Derby trophies have been sold at auction: the record price was realized in 2015, when Spend a Buck’s 1985 trophy sold for $187,521; Strike the Gold’s 1991 trophy was auctioned off, also by Lelands for $165,478.80 just a few months prior to the 150^th Run for the Roses.

In continuing the custom of adding unique adornments to the trophy for anniversary years, Susanne Blackinton-Juaire, silversmith of the 2024 Derby trophy, embellished the garland of roses across the horse’s withers with 196 rubies, 96 marquise-cut emeralds and 36 round emeralds to the garland of roses, as well as 12 diamonds beneath the horse, 38 rubies on the circular braid atop the gold cup, and eight diamonds within the horseshoe on the front of the trophy.

Kentucky’s chief executive Andy Beshear, the governor of the Commonwealth of Kentucky, will present the trophy to the winning owner at the conclusion of the race.

Once engraved, smaller sterling silver trophies will be presented to the winning trainer, jockey and breeder at a later date.