The trough in Pensnett was installed in 1912 as a drinking spot for the many horses, ponies and cattle who would have travelled through the area at the time.
Also intended to be used as a drinking fountain for the children at the neighbouring school, it was erected to commemorate the coronation of King George V and is significant due to its links to the RSPCA, the world’s first animal welfare charity.
Now used as a decorative flower bed in front of 155 High Street, it is believed to be at risk of significant damage due to vehicles driving too close to it.
It will be moved by Dudley Council to a new site later this month, around five metres from the existing site, to the back of a pavement area close to fencing at St Mark C of E Primary School.
The project to move the trough has a projected cost of £8,000, the council has revealed.
Councillor Shaz Saleem, cabinet member for the public realm, said: "We are pleased to able to support the re-siting of this listed trough, which will take the structure out of harm’s way and better reveal its significance.
"The piece has been a feature of Pensnett High Street for many generations and tells the story of how the society back then was reliant on horse-based transport."
Work to move the trough will start from Monday, August 22 with access to businesses and highways unaffected.
Work is expected to complete before pupils return to school in September.