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Brian T.Agreed that this card shouldn't reach 6 figures. I would see it going for high teens to low 20s depending on its condition.
OK, who else cringed at the "pushpin through the card" part of the story? I hope it was through the bag and not the card.
There is a guy who has had an overpriced (IMO), trimmed one on his ebay store for many months.
http://cgi.ebay.com/1869-PECK-SNYDER-RED-STOCKING-1ST-BASEBALL-CARD-EVER_W0QQitemZ110273748985QQihZ001QQcategoryZ31718 QQtcZphotoQQcmdZViewItemQQ_trksidZp1742.m153.l1262