The medal was awarded to Captain Henry Peel Ritchie, of the Royal Navy.
A Victoria Cross won by a sailor in the First World War could fetch up to £260,000 when it goes under the hammer later this month.
His medal is one of 250 being sold at Noonans Mayfair during an auction on July 23, with the collection expected to fetch in the region of £2 million. Mr Ritchie, who was promoted to Captain on the retired list in January 1924, lived at Craig Royston in Edinburgh and died there aged 83 on December 9 1958.
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