Actor Peter Fonda is auctioning off some of his memorabilia from "Easy Rider," including the American flag taken from the back of the jacket he wore throughout the film.

Fonda, who was producer, co-writer and co-star of the groundbreaking 1969 movie, "just decided it was time to share some of his treasures with collectors and fans," said Doug Norwine, director of music and entertainment memorabilia at Heritage Auction Galleries in Dallas.

The flag has an estimated value of $50,000. Other items up for auction Oct. 6 will include a Department of Defense pin that adorned the jacket, Fonda's gold record for the film's soundtrack album and his collection of six movie posters, including those for "Easy Rider" and "Ulee's Gold."

In one scene from 1969's "Easy Rider," Fonda's character throws his wristwatch away. But it wasn't the Rolex that Fonda wore in the movie's earliest scenes, which is part of the auction.

"There was no way Peter was going to risk damaging the watch, naturally, so a different one was used for the scene where his character tosses it away," the catalog listing explains.