A California license plate bearing the letters "USC" is on the market with an asking price that could exceed $675,000, potentially setting a new record for the most expensive license plate ever sold in the United States. The ultra-rare plate, dating back to 1970, is being marketed by Mark Magdaleno, who is collaborating with the current owner, Jeff Grotewold.

The plate is slated to be featured on USC's official social media channels on August 31. Sellers are aiming for a record-breaking sale and are open to the best offer.

"Diehard USC fans would give anything to have that plate on their vehicle," former owner Mike Stone told the Daily Trojan. By comparison, Charles White's Heisman Trophy, a significant piece of USC memorabilia, sold for nearly $300,000 in December 2006.

The "USC" plate's history began in 1970 when California introduced personalized license plates. James Stone Sr. originally chose the plate to honor his family's long-standing connection to the University of Southern California. The plate remained with the Stone family for over five decades before being sold to Jeff Grotewold, a longtime friend.

Grotewold, 63, had long admired the plate and eventually placed it on his 1992 Chevrolet Suburban, which he uses for fishing. He later recognized the plate's potential as a significant investment.

Magdaleno, who played baseball with Grotewold in high school, reconnected with him years later through Facebook. After Grotewold learned of Magdaleno's past struggles with addiction and homelessness, and his current need for a vehicle with adaptive controls due to a spinal injury sustained as an inmate firefighter, Grotewold offered him an opportunity to help sell the plate and share in the proceeds. "To me, this is redemption," Magdaleno stated. "It's a second chance for me."

License plate collector and broker Michael Modecki described the plate as potentially the "Holy Grail" of USC memorabilia. The market for personalized plates has expanded since a 2015 California DMV policy change allowed for the direct transfer of certain plates between individuals, creating a new collectibles sector. Modecki indicated that there is no current price ceiling for a plate like "USC," suggesting it could achieve a multimillion-dollar valuation.

Beyond the financial aspect, Grotewold has expressed a willingness to donate a portion of the proceeds back to USC, aiming to keep the plate within the university's community. The sellers can be contacted at [email protected] for offers.