Bob Holder, now 94, won the solid gold and silver belt buckle at a 1959 Saddle Bronc riding event in the United States.
It marked the first time an Australian cowboy had won a major award on the American rodeo circuit.
Holder, who kept riding into his 90s, reported the buckle missing from his Cootamundra property in southwest NSW.
It was stolen in December 2023 but Mr Holder took 14 months to notify police as he hoped someone would return the award.
Police hoped someone in the community would recognise the award.
"We are not ruling out that someone has innocently received the belt buckle and belt after it was stolen," Detective Chief Inspector Cameron Whiteside said.
"Mr Holder has been photographed wearing that belt many, many times over the years and ask if anyone has images of the belt to please contact police to assist investigators."
The belt buckle is made of solid silver and gold, with "Sidney Iowa 1959" and Mr Holder's name inscribed on the top.
It is worth more than the weight of gold to Mr Holder, known in the rodeo world as the "Cootamundra Cat".
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