value

Value generally refers to something’s worth, but can have different meanings depending on context. Value can be determined by face, par, or market value.

Value can be calculated either subjectively or objectively. A subjective value is whatever a party deems appropriate to pay for something. An objective value typically refers to its fair market value, which is what an informed, unpressured buyer would pay to an informed, unpressured seller.

In a criminal law context, the value of stolen property may be used to determine the level of criminality of the conduct. For the purposes of stolen property, Congress defines value as: the face, par, or market value, whichever is the greatest, and the aggregate value of all goods, wares, and merchandise, securities, and money referred to in a single indictment. See: 18 U.S.C. § 2311.

[Last reviewed in May of 2026 by the Wex Definitions Team]

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