Insanely Rare Ty Cobb Card Hits Auction Block

One of the most rare baseball cards EVER is about to hit the auction block ... a T206 Ty Cobb ... and it could be yours if you've got around $200,000 laying around!

The story behind the card is crazy -- a family in the South found 7 Ty Cobb tobacco cards (originally released between 1909-11) in an old paper bag while going through their great-grandfather's stuff earlier this year.

It's been dubbed by collectors as "The Lucky 7 Find." FYI, there are only 22 known Cobb T206 cards in existence.

Now, one of the cards from the paper bag is being offered up through Robert Edward Auctions -- it's been graded by PSA at 1.5 (fair condition) and we're told it's expected to fetch $200,000.

Several other cards from the haul have previously been sold for big bucks.

If you can't snatch up the Cobb -- don't worry, there's more cool stuff at the auction (which begins Friday) including:

-- 1916 Babe Ruth rookie card (estimated at $168,000)

-- 1953 Jackie Robinson game-used bat (estimated at $100,000)

-- 1951 Mickey Mantle rookie card (estimated at $150,000)

-- 1967 Roberto Clemente road jersey (estimated at $75,000)