The general value of Toby mugs range between $50 to hundreds or thousands of dollars depending on the condition, size, age, rarity and the origin of the mugs. The most valued Toby mugs are those crafted by Ralph Wood I. The value of these rare mugs goes up to $6500.
Royal Doulton is an English company that was established in 1815 and is among the best-known manufacturers of Toby mugs. Mugs that were produced in large numbers are generally cheaper today, while Toby mugs that were produced as limited edition batches are rare and expensive. The rarity of a piece makes it more collectible, and this increases its value significantly.