Can't tell you if the cover has any value. If it doesn't, I can't help but wonder if one of the family/relatives might be interested in getting the high school diploma back?
Value is in the eye of the beholder, or something like that. I'd keep it and put a value of millions on it: family history, even relatively recent, is worth a lot (especially after you no longer have it). I'd give it a place of honor in my collection with copious notes.
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