Derek Jeter may have made history with his 3,000th career hit, but the fact that it was a home run has set off a debate of relatively historic proportions.

Although some analysts put the value of Jeter’s 3,000 hit ball upwards of $500,000, a more realistic pricing estimate comes from Steiner Sports in New York, which has an exclusive deal with the Yankees’ captain. Steiner has put the value at between $100,000 and $250,000, but left the door open for it being worth more should the ball be put up for auction.

To date, the ball has been worth an undetermined value in PR for the Yankees and Jeter, but about $44,800 to Christian Lopez, the fan who came up with the ball after a mild scrum in the left field stands of Yankee Stadium on July 9.

Lopez returned to ball to Jeter and the Yankees. In return, he got to meet Jeter, then worked out a package deal with the team that included three autographed bats, three autographed balls, two signed Jeter jerseys and four suite tickets to all of the Yankees’ remaining 2011 home games, including any post-season games.

Steiner Sports said the signed items and the tickets were estimated to be worth at least $44,800. That could go much higher should the Yankees reach the World Series and host three home games.

People are now debating whether Lopez should have kept the ball and cashed in on his own. The IRS may or may not seek taxes not only on the items he received, but on the value of the ball itself. The IRS itself has not yet commented, but numerous accountants who have chimed in say Lopez most likely would be taxed on the Yankees’ stash he received and not the ball, which he immediately returned. And even then, according to some, Lopez might get an out if the IRS determines the items were gifted.

Prior to the event, Steiner Sports said that Jeter planned to keep many of the items actually associated with the 3,000th hit. The Baseball Hall of Fame is seeking items to display. It is not known at this time whether the baseball will be kept by Jeter, sent to the Hall or put up for auction, possibly to benefit a charity of Jeter’s choice.

Steiner Collectibles has some options for those who want to be part of that part of MLB history. A Derek Jeter autographed 3,000 hit “DJ3K” ball is going for $699.99. A pair of seats from the old Yankee Stadium is going for $1,499.99 and includes an autographed “DJ3K” ball. And a Derek Jeter commemorative 3000K bat inscribed with details of the event (but not autographed) is going for $129.99.

These figures pale in comparison to the baseball that Mark McGwire hit in 1998 for his 70th home run, which was purchased at auction for about $3 million by comic book/movie entrepreneur Todd McFarlane. McFarlane also at the time spent about another $300,000 on McGwire’s first, 67th, 68th and 69th home run balls from 1998 and several hit by Sammy Sosa that season. Given the change in economic climate from 13 years ago and the association of McGwire and Sosa with PEDs, the value of those balls is undetermined, but certainly lower.

(Photo credit: Steiner Collectibles)