The song was recorded at Sun Records in Memphis in 1953 when he was 18. The 78 RPM acetate was made as gift for his mother Gladys, reported Ace Showbiz.
Elvis left it at a friend's house when he stopped by to listen to the track because the Presley family did not have a record player. It has since been kept safe by the friend's family.
"I'm hoping that somebody who loves Elvis Presley and is a huge Elvis Presley fan and who can appreciate the record ... ends up with it," said Lorisa Hilburn said. She inherited it from her late uncle Ed Leek, the singer's friend.
Other items being sold at the auction include a gold and diamond necklace the late King of Rock N' Roll gifted to his staff at Graceland, a copy of "That's All Right" he autographed for his friend Ed, and customised watch that has a Star of David and Christian cross which symbolised brotherhood in his entourage.
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