Intrinsic Value
Dictionary.com defines intrinsic as
belonging to a thing by its very nature: the intrinsic value of a gold ring.
However, value is a subjective measure that totally depends on the context of the observer. In essence, nothing has any value in the absence of an observer. In other words, there is no such thing as intrinsic value.
That being said, the concept of intrinsic value exists. Since it exists and continues to be used, someone must have had some use for it. I think it does have some use in communication, especially if it is clarified. Here's the definition I use for it:
Intrinsic Value: that value that people find in something that is unrelated to the particular context.
What I mean can probably be better understood with an example. Lets take something we should be somewhat familiar with: silver tokens/coins.
When we speak of the intrinsic value of a silver coin, as a coin, we are referring to the value we place on the silver content of the coin and not the value we place on it as a currency. We know that silver has many uses in industry and art, and that means we can always find some value in the coin that is unrelated to its "coin-ness".
This is why we can refer to a silver coin as having intrinsic value, while bemoaning the lack of it in Federal Reserve Notes (FRNs); which are pieces of paper that have had their usefulness as paper ruined by being already printed on. The value of an FRN is seen as solely in its use as a currency. [The fact is that an FRN does have some intrinsic value in that it can be used for things where you would need a small piece of paper regardless of what is on it. One use that comes to mind is rolling it up to snort cocaine. However, the non-currency value of an FRN is very small when compared to a silver coin.]