The Collaborative International Dictionary of English v.0.48:

Value \Val"ue\ (v[a^]l"[=u]), n. [OF. value, fr. valoir, p. p.
   valu, to be worth, fr. L. valere to be strong, to be worth.
   See Valiant.]
   1. The property or aggregate properties of a thing by which
      it is rendered useful or desirable, or the degree of such
      property or sum of properties; worth; excellence; utility;
      importance.
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            Ye are all physicians of no value.    --Job xiii. 4.
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            Ye are of more value than many sparrows. --Matt. x.
                                                  31.
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            Caesar is well acquainted with your virtue,
            And therefore sets this value on your life.
                                                  --Addison.
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            Before events shall have decided on the value of the
            measures.                             --Marshall.
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   2. (Trade & Polit. Econ.) Worth estimated by any standard of
      purchasing power, especially by the market price, or the
      amount of money agreed upon as an equivalent to the
      utility and cost of anything.
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            An article may be possessed of the highest degree of
            utility, or power to minister to our wants and
            enjoyments, and may be universally made use of,
            without possessing exchangeable value. --M'Culloch.
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            Value is the power to command commodities generally.
                                                  --A. L. Chapin
                                                  (Johnson's
                                                  Cys.).
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            Value is the generic term which expresses power in
            exchange.                             --F. A.
                                                  Walker.
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            His design was not to pay him the value of his
            pictures, because they were above any price.
                                                  --Dryden.
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   Note: In political economy, value is often distinguished as
         intrinsic and exchangeable. Intrinsic value is the same
         as utility or adaptation to satisfy the desires or
         wants of men. Exchangeable value is that in an article
         or product which disposes individuals to give for it
         some quantity of labor, or some other article or
         product obtainable by labor; as, pure air has an
         intrinsic value, but generally not an exchangeable
         value.
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   3. Precise signification; import; as, the value of a word;
      the value of a legal instrument --Mitford.
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   4. Esteem; regard. --Dryden.
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            My relation to the person was so near, and my value
            for him so great                      --Bp. Burnet.
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   5. (Mus.) The relative length or duration of a tone or note,
      answering to quantity in prosody; thus, a quarter note [?]
      has the value of two eighth notes [?].
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   6. In an artistical composition, the character of any one
      part in its relation to other parts and to the whole; --
      often used in the plural; as, the values are well given,
      or well maintained.
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   7. Valor. [Written also valew.] [Obs.] --Spenser.
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   8.
      (a) That property of a color by which it is distinguished
          as bright or dark; luminosity.
      (b) Degree of lightness as conditioned by the presence of
          white or pale color, or their opposites.
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   9. (Math.) Any particular quantitative determination; as, a
      function's value for some special value of its argument.
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   10. [pl.] The valuable ingredients to be obtained by
       treatment from any mass or compound; specif., the
       precious metals contained in rock, gravel, or the like;
       as, the vein carries good values; the values on the
       hanging walls.
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   Value received, a phrase usually employed in a bill of
      exchange or a promissory note, to denote that a
      consideration has been given for it. --Bouvier.
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