The plate 'X1' has been described as 'exceptional and historical' and was originally issued by Northumberland County Council in December 1903.
The Britain's most expensive number plate is being advertised by a company which has given it a whopping 1 million pounds asking price, the 'Daily Mail' reported.
This would make it 560,000 pounds more expensive than the plate 'F1' which was bought by Bradford-based businessman Afzal Kahn in 2008.
It is also 43 times more expensive than the car it is ideally suited for - the BMW X1.
Anyone who forks out the potential seven-figure sum would have to stump up a further 26.50 pounds to have a new set made up and 126 pounds transfer fee.
It is thought the plate once belonged to the chairman of a committee in Tynemouth which campaigned for the abolition of the 'red flag' legislation.
Under the provisions of the Locomotive Act, 1865, the first motor cars were limited to a speed of 6.4 kilometres in the country and just 3.2 km in town.
Additionally, three people were required to take charge of the vehicle and one of the crew would have to walk 55 metres ahead carrying a red flag.
As the committees' cause was successful, other members were said to have acquired the X numbers 2 to 5.
Angela Banh, from Regtransfers.Co.Uk, believes the plate will sell quickly, adding it was hard to predict who the buyer would be.
"It could be someone who thinks they have the X-factor, someone with the Chinese surname Xi, or a company with a name beginning with X - like Xerox," She said.
If Regtransfers doesn't sell the plate over the next two weeks then they will advertise it in an on-line auction.
