The very first recording Elvis Presley ever made will be among the items in an auction slated to take place in January.

The singer's estate, Graceland, held its first-ever memorabilia auction in August and has scheduled another round of items to go up for bid on Jan. 8, 2015, which would have been Presley's 80th birthday.

The New York Times reports the prize item will be the one-of-a-kind acetate of Presley's first recording, with 'My Happiness' on one side and 'That's When Your Heartaches Begin' on the other. The performances have been included in several compilations over the years, but the actual physical disc has always remained in a private collection.

According to the Times, Presley paid four dollars to record the two songs at Memphis Recording Service on July 18, 1953. Historical accounts vary, with some saying the recordings were a gift for his mother, while others claim that he was either trying to find out how his voice would sound on record, or trying to catch the attention of Sam Phillips from Sun Records -- the label that gave Presley his start in 1954.

Record Collector magazine has listed the value of the disc at $500,000. Other items in the upcoming auction include Presley's first driver's license, a signed 78 RPM disc of 'That's All Right Mama' and a signed contract for a 1955 live appearance.

Graceland is offering a catalog of auction items for $20 here.

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