Fifty-two war veterans with the blue-ribboned Medal of Honor around their necks walked a red carpet Wednesday at Punchbowl Cemetery, the guests of honor at a ceremony dedicating a memorial stone to all who have received the military’s highest award for valor in action against the enemy.

According to the Congressional Medal of Honor Society, 3,459 people have been awarded the medals since 1863.

There are just 81 living Medal of Honor recipients; 52 are in Hawaii this week for the 2012 Medal of Honor Convention.

Does the general public understand the degree of bravery and sacrifice behind that ribbon and five-point star?

"Sometimes yes, sometimes no," said Ken Stumpf, a Schofield Barracks soldier who carried three wounded men on his back, one after the other, to safety while under enemy fire in Vietnam in 1967. He then destroyed three enemy bunkers.

He recalled an occasion about 20 years ago when he wore his Medal of Honor in public.

He and a bunch of fellow Vietnam vets had just done a 5-kilometer fun run in his home state of Wisconsin. Afterward at the hotel, he put on the medal.

"I was talking with some friends, meeting some new friends, and this guy came up to me and he says, ‘Oh, my God, you won the race! The blue medal,’" said Stumpf, now 68.

Americans these days are "definitely doing better" understanding the significance of the Medal of Honor, he said.

"Times have changed and bless the hearts of all these volunteers (in the military) that have volunteered to serve. They know what they might be facing down the line," said Stumpf, who was with the 1st Battalion, 35th Infantry Regiment.

Thirty-two Medal of Honor recipients are buried at the National Memorial Cemetery of the Pacific and another 30 recipients who are missing in action are memorialized at the cemetery.

Retired Navy Capt. Gerald "Jerry" Coffee, the keynote speaker, who spent seven years as a prisoner of war in North Vietnam after his jet was shot down in 1966, told the Medal of Honor recipients, "You do your job well" serving as an inspiration to others.

"You rub shoulders with the common man or woman and everybody thinks, ‘Man, I’d never be able to do what you did,’ but the fact is, they would," Coffee said. "It’s in every single one of us to do that. We’re all equipped to be a hero, if necessary."

Coffee said the Medal of Honor Society helps promote those heroic acts, and, "We thank you so much for that continued example."

This year’s convention — the first in Honolulu since 1981 — includes receptions and dinners, base and school visits, a luau, book signings and other events and appearances.

Most of the Medal of Honor recipients are in their 60s or older, having served in Vietnam, Korea or World War II.

The exceptions are Army Sgt. 1st Class Leroy Petry, 33 — who still serves on active duty — and former Army Staff Sgt. Salvatore Giunta, 27, both Medal of Honor recipients for their actions in Afghanistan.

Petry was wounded clearing the courtyard of a house in Paktia province in 2008, but fought on as an enemy grenade landed near him and two fellow Rangers. Petry picked up the grenade to throw it, but it exploded as he released it, destroying his right hand.

He now wears a mechanical prosthetic arm that has enough dexterity for him to shake hands.

Giunta and his team were ambushed in the Korengal Valley in 2007. Giunta ran exposed through enemy fire to aid his wounded squad leader, threw grenades, and raced to the top of a hill in search of another soldier who was being carried away by two enemy fighters. Giunta killed one fighter, wounded the other, and recovered his comrade.

Older Medal of Honor recipients sometimes take younger ones aside and explain to them the demands that will be made on their time as war heroes.

One of Petry’s sergeants major brought him in for a meeting before the Medal of Honor was awarded.

"He said, ‘It hasn’t been approved, but it’s still going up through the chain and if it does (get approved), I just want you to know it’s going to be a blessing and a curse all in one,’" Petry said. "So there are upsides and downsides just like everything. But the best part is knowing what it represents — and that’s all the men and women who have and continue to serve."

Petry said the Medal of Honor recipients have welcomed him in like family.

"I’m still active-duty, so it’s a little different for me, but I’m enjoying it," Petry said of his Medal of Honor status. "Just being around these (other medal recipients), I sometimes forget that I have one around my neck because I’m in awe myself of their (accomplishments)."

One of those attending the memorial dedication who understands the sacrifice that can come with military service was Matias Ferreira, 23, a former Marine lance corporal who lost both his legs to an improvised explosive device in Afghanistan.

"I was on a patrol as a machine-gunner. We were going on a rooftop to set up machine guns and sniper rifles for an overwatch. And when I jumped down from the roof I landed on a 30-pound IED," Ferreira said.

Ferreira, in town as part of the Wounded Warrior Amputee Softball Team, also said Americans are getting better at appreciating the valor that comes with the Medal of Honor, but still have a ways to go.

"We’re getting there," he said. "It’s funny because I think America has got their priorities a little bit mixed up. They call these quarterbacks and stuff in college and in the pros in football heroes, and the real heroes are these guys right here (at Punchbowl) that either, A, didn’t make it back, or, B, are here today with us to share their story."