Neat ticket!
From this website for the NY Historical Society, it appears that the tickets were sold with the intent to keep them as souvenirs, and decorative holders to hold/save the tickets were given away:
http://blog.nyhistory.org/subway/
Interestingly enough, the MTA website, itself, has a slightly different ticket on its website for circa 1904.
http://web.mta.info/nyct/110Anniversary/fare.htm
Finally, as possibly a value gauge, a dual 1904 train-bus ticket is on ebay with a BIN of $475, albeit it's been listed for a long time at that price.
https://www.ebay.com/itm/252956396269?rmvSB=true