A stolen plaque valued at R60 000 has been found at a scrap metal dealer, the City of Cape Town said on Wednesday.

The head of the city's metal and theft unit, Neil Arendse, said the Maria de la Quellerie plaque was stolen from the Heerengracht central island at the Hans Strijdom intersection.

The plaque was erected 60 years ago and the replacement was valued at R60 000, he said.

A 65-year-old Maitland scrap dealer had been arrested for buying stolen goods and police confiscated the plaque, which had been sawn into 12 pieces.

"The dealer paid only R135 for the plaque, which various other dealers had declined to buy suspecting that it was stolen," said Arendse.

"Removal of the plaque also violates the National Heritage Resources Act 25 of 1999."

He said information on the person who sold the plaque to the dealer was being followed up.

"Scrap dealers are warned that the Copperheads [metal theft unit] will come down hard on all those who create a market for stolen items."