Lou Gehrig Signed LetterIn general a typed letter signed by Lou Gehrig would have a value of about $2,000.00 - $2,500.00 A hand written letter signed by Lou Gehrig would have a value of about $7,000.00 - $8,000.00. Value will vary based on condition, and the type of authenticity that accompanies the letter. The personal or historic subject of the letter would have an effect on the value as well. If the letter is not authenticated it could sell at half the market value or less.
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Nothing, until it's been authenticated. Your and your
grandfather's ownership is just its 'provenance', an important
factor, but still, only one factor.