Touchstone was bred and owned by Robert Grosvenor (1767-1845), 2nd Earl Grosvenor and subsequently 1st Marquess of Westminster. The "famous Eaton Brown" was a full brother to the St Leger winner Launcelot (br c 1837). Standing about 15 hands two inches, he was said to be somewhat short and upright in the shoulders with well shaped quarters and a longish back. A horse of great strength and power, some of which he may have inherited from his damsire, he was also an inveterate puller and generally wore a two-rein bridle.

He ran from two to six, winning fifteen of his twenty starts including six walk-overs, finishing second twice and third twice, and going unplaced only once. His victories included the Dee Stakes and Palatine Stakes at Chester, the Great St Leger at Doncaster, a purse at Wrexham, the Doncaster Cup (twice), a "piece" of Gold Plate at Heaton Park and the Ascot Gold Cup (twice).

He retired to stud, first at Moor Park, near Rickmansworth, then at the Eaton stud of his owner in Cheshire. His classics winners included Cotherstone (b c 1840) winner of the Two Thousand Guineas and the Derby, Surplice (b c 1845) winner of the Derby and St Leger, Mendicant (br f 1843) winner of the One Thousand Guineas and Oaks Stakes, the Two Thousand Guineas winners Flatcatcher (b c 1845), Lord of the Isles (b c 1852) and Nunnykirk (bl c 1846), the Derby winner Orlando (b c 1841), and the St Leger winners Blue Bonnet (b f 1839) and Newminster (b c 1848). An outstanding stallion himself he left behind thirty or more sire sons, of whom Newminster and Orlando were of enduring distinction. From Newminster descended Hyperion (ch c 1930 Gainsborough) and from Orlando descended Broad Brush (b c 1983 Ack Ack) and Holy Bull (gr c 1991 Great Above). Touchstone was Champion Sire in 1842, 1843, 1848 and 1855. He died at Eaton Hall, Cheshire, in 1861.