In recent discussions of the so-called “value of truth,” it is assumed that what is valuable in the relevant way is not the things that are true, but only various states and activities associated with those things: knowing them, investigating them, etc. I consider all the arguments I know of for this assumption, and argue that none provide good reason to accept it. By examining these arguments, we gain a better appreciation of what the value of the things that are (...) true would be, and why it would matter. We also encounter three indications that what is true really is valuable, each of which provides a promising starting point for a serious argument with that conclusion. (shrink)