Yes it is! I didn't realise it when I started to quilting. You are very lucky to have found it. I would put it somewhere where people will see it. Definitely a museum piece and should be stored as such like it. I would put something around it like a hanging rope or some kind of blockage so that people can see but not touch. Handle it with care of course, use lint free gloves as you see on tv. As far as refreshing it, hang it out on a cold day, but not in the snow. Let air get to it, to get the smell out, and repairing it, I'm not sure if it would lower that value of it.
I saw on antigues roadshow, that old time quilts can be worth a heck of alot of money. Please hang on to it.