Renowned auction house RM Sotheby's reckons this is the first time a prize of this type has been offered for public sale and estimates the FIA award will fetch between £25,000 and £35,000.
Hill's trophy, rewarding his season-long triumph over Jim Clark while driving for the Bourne-based BRM team, marks the first time a British driver won the F1 crown while driving a British car.
It leads an array of listings from the private Hill family memorabilia collection, with the winner's trophy from the 1972 edition of the 24 Hours of Le Mans also available from £20,000 to £30,000.
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Then 43, Hill - who won the Monaco GP five times and the Indianapolis 500 in 1966 - became the first driver to earn the so-called 'Triple Crown' of motorsport when he triumphed aboard the Matra MS670 he shared with Henri Pescarolo on what would be his final appearance in the famous enduro.
Earlier this month, RM Sotheby's raised in excess of £2 million for 1992 F1 world champion Nigel Mansell as it auctioned over 320 items from his private collection.
At its Las Vegas sale next month to coincide with the return of a GP to the Nevada city, RM Sotheby's is selling the 2013 Mercedes W04 in which Lewis Hamilton won the Hungarian GP. It is forecasted to go under the hammer for up to £12m.
Source: Autosport