What is Face Value?

Legal Definition
The face value is the value of a coin, stamp or paper money, as printed on the coin, stamp or bill itself by the issuing authority. The face value of coins, stamps, or bill is usually its legal value. However, their market value need not bear any relationship to the face value. For example, some rare coins or stamps may be traded at prices considerably above their face value.
-- Wikipedia
Legal Definition
The PRINCIPAL amount of a security; for standard securities transactions, face value, and PAR VALUE are often equivalent. Face value is distinguished from MARKET VALUE, although in many cases they converge to the same value at maturity.
Legal Definition
The apparent value of a commercial paper. See 38 S. C. 238, 17 S. E. 49.
-- Ballentine's Law Dictionary