Growing investments of time, money and other resources in the production of geographic information (GI) in concert with the increasingly widespread use of GI throughout society are often accompanied by statements that reference the economic, cultural and social value of GI. Despite considerable effort over the past decade, our capacity to quantify the value of GI or even understand how value should be conceptualized remains limited. The recent emergence of volunteered geographic information (VGI) has introduced several new facets to the challenge of understanding the value of (V)GI. This chapter examines how VGI use and production are challenging our understanding of how GI and VGI alike are valued. Following a review of the traditional approaches to valuing GI, the chapter explores the distinctive characteristics of VGI use and production that introduce new dimensions to value. More specifically, the chapter proposes several metaphors (serendipitous and unexpected discovery, Debord’s ‘Derives’ metaphor, Lego block theory) that can be used to conceptualize VGI value and the potential to adapt the ‘fitness-for-use’ concept to guide user assessments of VGI value in practice.