On Dec. 20, 1957, Elvis Presley traded his status as “King of Rock ’n’ Roll” for that of general inductee when he was drafted into the U.S. Army. It wasn’t exactly a welcome Christmas gift.

Elvis Presley Enterprises claims the memorabilia is valued at over $2 million. The gatekeepers of Elvis Presley's estate are trying to recover a potential trove of records and memorabilia left ...