The Regal Scepter is an Item introduced in the Hamlet DLC. It is found in the PinacleBiome and can be given to the Pig Queen in exchange for a Royal Gallery Key. It can also be used as an infinitely durable weapon, though it only does about 10 damage per hit.
It is possible to find 2 Regal Scepters on the same island. This may be unintended. [Verification Needed]