The Victoria Cross
The Victoria Cross (VC) is the highest military decoration awarded for valour "in the face of the enemy" to members of the armed forces of some Commonwealth countries and previous British Empire territories. It takes precedence over all other orders, decorations and medals.
It may be awarded to a person of any rank in any service and civilians under military command, and is presented to the recipient by the British monarch during an investiture held at Buckingham Palace. It is the joint highest award for bravery in the United Kingdom with the George Cross, which is the equivalent honour for valour not in the face of the enemy. However, the VC is higher in order of precedence and would be worn first by an individual who had been awarded both decorations (which has not so far occurred).
The VC was introduced on 29 January 1856 by Queen Victoria to reward acts of valour during the Crimean War. Since then the medal has been awarded 1,356 times to 1,353 individual recipients. Only 13 medals, nine to the British Army and four to the Australian Army have been awarded since the start of the Korean War. The traditional explanation of the source of the gunmetal from which the medals are struck is that it derives from Russian cannon captured at the siege of Sevastopol. Recent research has thrown doubt on this story, suggesting a variety of origins.
Due to its rarity, the VC is highly prized and the medal can reach over £400,000 at auction.There are a number of public and private collections devoted to it. Most notably, Lord Ashcroft, whose collection contains over one-tenth of the total VCs awarded, announced in July 2008 a donation to the Imperial War Museum, allowing his collection to be displayed there in a new gallery which will open in 2010