Bonham's will be offering the antique in the Fine Silver and Objects of Vertu Sale on June 30th in London.
The scallop-shaped piece was allegedly given to Henrietta Mainwaring, the daughter of the Mayor of Chester, by James Fitzroy, Duke of Monmouth, in 1682.
Loraine Turner from Bonham's silver department said: "The spice-box, possibly made by the great silversmith Thomas Jemson of London in 1620/1621, will be sold for an estimated price of £40,000 to £60,000."
It is believed to have been given to Miss Mainwaring by her godfather, Fitzroy, while he was touring Worcestershire, Staffordshire and Chester.
Fitzroy was thought to be the illegitimate son of King Charles II of England and was executed in 1685 as he attempted to depose the Catholic James II in what is known as the Monmouth Rebellion.
Posted by Ophelia Weston
Related Articles
Silver and Old Master paintings will be auctioned this autumn
Silver objects to be auctioned
Auction record set for American silverware
American silver and fine arts to go on sale at Sotheby's