Sec. 155.20  Larceny; value of stolen property.
    For  the  purposes of this title, the value of property shall
be ascertained as follows:
    1.   Except  as  otherwise  specified  in this section, value
means the market value of the property at the time and  place  of
the  crime,  or if such cannot be satisfactorily ascertained, the
cost of replacement of the  property  within  a  reasonable  time
after the crime.
    2.   Whether  or  not  they  have  been  issued or delivered,
certain written instruments, not including those having a readily
ascertainable  market  value  such  as  some public and corporate
bonds and securities, shall be evaluated as follows:
         (a)  The value of an instrument constituting an evidence
    of debt, such as a check, draft or promissory note, shall  be
    deemed the amount due or collectable thereon or thereby, such
    figure ordinarily being the face amount of  the  indebtedness
    less any portion thereof which has been satisfied.
         (b)   The  value  of  a  ticket or equivalent instrument
    which  evidences  a  right  to  receive   a   transportation,
    entertainment  or  other  service  shall  be deemed the price
    stated thereon, if any; and if no price is stated thereon the
    value  shall be deemed the price of such ticket or equivalent
    instrument which the issuer charges the general public.
         (c)   The  value  of any other instrument which creates,
    releases, discharges or otherwise affects any valuable  legal
    right,  privilege  or obligation shall be deemed the greatest
    amount of economic loss which the  owner  of  the  instrument
    might  reasonably  suffer  by  virtue  of  the  loss  of  the
    instrument.
    3.   Where  the  property  consists  of  gas, steam, water or
electricity, which is provided for charge  or  compensation,  the
value   shall  be  the  value  of  the  property  stolen  in  any
consecutive twelve-month period.
    4.   When  the  value  of  property  cannot be satisfactorily
ascertained pursuant to the standards set forth  in  subdivisions
one  and  two of this section, its value shall be deemed to be an
amount less than two hundred fifty dollars.
.

(For verification consult Official Text at Senate Gopher site.)