The oversized pot first appeared outside a grocer's shop in Waterloo Place in 1866 and it stood steady through some of Derry's fiercest fights - including a gun battle in 1920.
During the 1960s it was taken down but now it has reappeared outside the Faller family's jewellery store on the Strand Road, yards from where it originally stood.
The family took possession of the teapot in the 1970s and they have put it back up especially in time for the City of Culture.
The Golden Teapot has been restored and reinforced and now stands proud with a puff of steam peeping from the spout every 20 seconds.
Norman Hamill has been researching the Golden Teapot's history for the Faller family.
"Since they have put it up here we have been inundated with people telling us about their memories of it. It has a wonderful history and it is amazing that it has survived," he explained.
For the people of the city, the sight of the Golden Teapot brings them back to years gone by.
"That's another bit of heritage again but Mr Faller is now going to have to start serving tea. Well, hopefully," said one passerby.