I would buy GP points for 1 cent and I would sell mine for 1.5 cents. So I value them somewhere between 1-1.5 cents. But I normally value miles and points lower than most people (for example, I only value FF miles at 1 cent/mile and HH points at 0.5 cents/point). I agree with others, with FFN promos frequently running, I have found it unnecessary to have to use my points recently. If Hyatt stops (or slows down) the FFN promos, the GP point value for me will go up.