Terry Bywater scored seven points in a 9-0 run to start the third quarter that saw the scored level at 29, but USA's Steve Serio scored six points of his own in the quarter to see his team lead 39-33 at the final break.
Needing a quick start to the fourth quarter it was again Serio who held GB at bay with the first points of the quarter and the US pushed the lead out to double digits before GB could respond.
At eight points down with 5 minutes remaining GB stil had a shot at bronze, but they finished poorly managing just a single free throw before the final 30 seconds.
Serio was the game's top scorer with 20 points. Bywater led GB with 14, with no-one else managing more than 6. Bywater was also the game's top rebounder with 12.
Canada won the gold medal with a 64-58 victory over Australia in the final thanks to 34 points, 10 rebounds and 8 assists from Patrick Anderson. Australia had to settle for a pair of silvers after their Women lost the Gold Medal match 58-44 to Germany.