Appreciated items that are sold recognize only the gain. It is taxed as a capital gain with special lower tax rates, so it may not even be taxable. The fact that you owned it shows you received it as a gift or bought it.
If you are single with income below $40,000 or MFJ with income below $80,000, there would be no tax.
So, is the basis to be worried about? A small number like $120, not taxed is not worth a concern. If your income is higher and the numbers are much larger, like appreciated art collection, then the basis will matter and you would need to find any photos, letters, etc that may establish ownership and timeline. Otherwise, you could be taxed on the full sale price.
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