I don't know what creates the perception of value in individuals but I have always said something is only worth what someone will pay for it.

I think intrinsic value is driven by a mix of utility, scarcity, and material that can't be counterfeited. All of these create a confidence in the material or item. Utility would be the only variable that could change in a persons perception of items. So would that mean Utility = value almost solely while the other too qualities determine how effective a store of value the item is?

You can't eat or drink a gold eagle, bitcoin, or a bullet.