Liquid gold produced in Galway distillery which relied on United States exports to stay afloat.Getty Images/iStockphoto

Whiskey distilled in Ireland in 1916 is among the rare wines and spirits, part of a huge collection, going up for auction in London.

An extremely rare bottle of Irish pot still whiskey, from 1916, is expected to fetch between $1,500 and $3,000 at auction. The Allman’s distillery, on Nun’s Island in Galway, went out of business during Prohibition, such was its dependence on the United States export market.

The experts say that despite the cork being shriveled the liquid gold will still fetch big money at auction.

The distillery was established by the entrepreneurial Allman family. They produced up to 600,000 gallons of whiskey per year. Most of this was exported, but by 1925 production had ceased as Prohibition affected their business so gravely.

This Allman’s whiskey is not the oldest tipple up for auction. Also among the collection is a bottle of unopened cognac, dating from 1893, when Queen Victoria was still on the English throne.

The auction will take place at Chiswick Auctions next Tuesday, December 16, at 5pm (GMT).