THIS IS NOT LEGAL ADVICE; DO NOT RELY ON IT!!!!!
To prove valuation and the stepped-up basis, you may have to get an appraisal. If a decedent’s estate contains assets that have marked artistic or intrinsic value that totals more than $3,000, Regs. Sec. 20.2031-6(b) requires the appraisal of an expert, executed under oath, to be filed with the estate tax return. There is no requirement for a qualified appraisal (one that meets the requirements for certain charitable contributions). So you can get an experienced dealer or auctioneer to appraise the card and issue a FMV opinion. The IRS can contest it and you can slug it out in court with experts on each side (lawyers call this a "whore fight" BTW, because when you hire an expert they are inherently favorable to you or you do not let them testify). Now, if the estate closed without declaring the item on a return and you basically were handed it, there may be a problem that requires a lawyer and CPA to sort it out.
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