I do not know what the signature is on, but having said that it is yours to do what you want. Personally, I don’t understand the idea of making a card etc, especially if it is on a letter. I can tell you as a long time collector of books as well as early baseball items, that cut signatures from letters were a short term big deal, eg Dickens etc , however, today, those full letters would command up to 100 times the value of the cuts. Do what you want.
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