The memorabilia is expected to fetch up to $600,000 (£478,662/€557,310) when Julien's Auctions puts it up in Beverly Hills from June 23 to 25.  

According to Julien's Auctions' gallery director Kody Frederick, proceeds from the auction is set to benefit a centre for women and children's health in Nairobi, Kenya.

The jersey is signed by the two-time Olympic champion and features a red, white and blue trim, with USA Basketball inscribed on the front.

Barcelona 1992 marked the first time that National Basketball Association (NBA) players were allowed to compete at the Olympics.

The basketball tournament in the Spanish city is know for the American "Dream Team" that featured greats like Larry Bird, Magic Johnson and Jordan himself.

United States dominated the tournament and won the gold medal as expected.

Apart from the jersey, the auction will also see memorabilia from Babe Ruth, Pelé, Kobe Bryant, Diego Maradona, Tom Brady, Rafael Nadal and Floyd Mayweather up for sale.

In a separate auction, the Reebok jacket worn by the 60-year-old Jordan while collecting his medal in Barcelona is headed for a separate auction.

The Nike athlete, who was forced to wear it on the medal stand in 1992, is estimated to fetch anywhere from $1 million (£797,650/928,340) to $3 million (£2.3 million/€2.7 million) at Sotheby's auction, expected to end on June 28.

Jordan however draped the American flag around the jacket to hide the Reebok logo.

"To be able to sell this relic from such a historic world event - one that is often credited for multiplying the popularity and global reach of basketball - is both rare and unparalleled," said Brahm Wachter, Sotheby´s head of streetwear and modern collectibles, as quoted by the Daily Mail.

"And beyond its legendary place in Olympic history, the jacket represents Michael Jordan´s fierce and devoted loyalty to Nike, a transformative and revolutionary partnership between two powerhouses that has stood the test of time."