A prosthetic valve for implantation in a stenosed aortic valve. The prosthetic valve includes a metallic frame formed with intersecting bars having diameters in the range of 0.1 to 0.6 mm. The frame is radially collapsible for advancement into a native aortic valve using a catheterization technique. The frame is radially expandable for embedding the frame within the native aortic valve. The frame has sufficient radial strength to resist the recoil forces of the native aortic valve after implantation. The prosthetic valve includes a collapsible valvular structure made with pericardium. The prosthetic valve also includes an internal cover which forms a substantially impermeable tubular sleeve. The internal cover preferably extends between a lower extremity of the frame and the valvular structure. The internal cover is preferably sutured to the valvular structure. The valvular structure and internal cover are sutured to the bars of the frame.