The Chess-Player's Text Book/Chapter 3
This work was published before January 1, 1930, and is in the public domain worldwide because the author died at least 100 years ago.
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CHAPTER III.
RELATIVE VALUE OF THE CHESS FORCES.
THE KING.
AS the King can neither be exchanged nor captured, his relative value with the other Pieces cannot be estimated.
THE QUEEN.
The average value of the Queen is considered equivalent to two Rooks and a Pawn.
A ROOK.
A Rook is estimated of the worth of a Bishop and two Pawns, or a Knight and two Pawns. Two Rooks may be exchanged for three minor Pieces.
A BISHOP AND A KNIGHT.
These Pieces, practically considered, are of equal value, though the advantage, if there is any, is thought to be on the side of the former.
A PAWN
Stands lowest in the scale of powers, being usually calculated at about one-third the value of a Bishop or a Knight.