To atone for the doorstop comment I left on the question:
No, a dead card has no use as a graphics card. If you do not want to put it to alternate use, find out whether your community does electronics recycling and turn it in there. (My area does a collection of used consumer electronics every six months or so and encourages residents to bring them in to avoid contaminating the landfill.) Some places will collect them, some will not, but do not place items in the garbage if you're in the US, as Bart Koopman notes.
However, if you're willing to put the dead card to an alternate use before disposal, it would make a great teaching tool. If you have children, spend a Saturday tearing the card apart and seeing what components go into it. If you don't, see whether any of your friends with children would like it. Most people wouldn't care to spend that much money on a teaching exercise, but the card is dead anyway, so why not have someone learn from it before disposing of it?
Finally, if you're willing to go to the expense, enclosing a card in hard transparent synthetic would make a decent doorstop. (And hey, it is recycling of a sort.)