On attachment to Cork's Mallow Road Station on plainclothes duty, Cosgrove approached two youths acting suspiciously, who ran off.
While in pursuit, Cosgrove seized one of the youths only to see the other come back pointing a revolver, demanding he set free his friend.
"Cosgrove maintained his grip on his prisoner, but suddenly the boy dropped onto one knee exposing the Guard to the line of fire.
Garda Cosgrove, left for dead by the youths, later had the bullet removed, the surgery necessitating some seventeen stiches."
In a ceremony attended by several members of the government, he was awarded the Scott Medal at Templemore on 2 October 1975.