Margaret Thatcher's Asprey handbag is set to be auctioned for £100,000 in June.

The former British prime minister was famed for the expensive accessory, which stored important documents and was on her arm when she entered into Cold War discussions with Ronald Reagan and Mikhail Gorbachev.

Thatcher has donated the handbag to Jeffrey Archer's charity auction at Christie's in London on June 27.

She was well known for her verbal "handbaggings" of cabinet ministers. In fact, so synonymous did the Tory prime minister become with the item that the late MP Nicholas Ridley is reported to have said prior to a discussion: "Why don't we start? The handbag is here." 

Margaret Thatcher contemplating a 'handbagging' of Jimmy Carter in 1979

A black Salvatore Ferragamo handbag once owned by her achieved £103,000 at a 2000 sale.

The sale will certainly be worth a close look. Memorabilia connected with the "Iron Lady" can also make tempting investments, with many items available on the private markets including her autograph.

In June 2007, Thatcher's Spitting Image puppet sold for £5,400. It was among the British satirical TV series' most popular characters.

Christie's auction will also feature the clock used to time Roger Bannister's four minute mile in 1954.