This is a nice stampless letter from Albany to Kingston. Kingston, is a town in Ulster County, New York, halfway between Albany (the state capital) and New York City. It has been around a long time - since the 1600s or so. As for value it is unfortunately an example where age does not translate into dollars. The reasons are that it is a preprinted form letter with a few additions dealing with a legal matter which is common, it is not from a famous person, and it is from a town in the east to another town in the east. Most of the American population were in the eastern towns and cities in those days and they were sending a lot of mail. The more valuable stampless letters are ones from famous people, or from small unusual towns in the west where there were not so many people and they were not sending much mail, or that have travelled long distances by unusual means and have the appropriate markings.
The value of a stampless cover is the same as the value of anything. It is the agreed to price between a willing buyer and the seller of the item. Many factors especially personal preference and iterest go into this calculation for a stampless cover.