In this paper, we analyze the properties of magnitude scales of perceived seriousness of crimes provided by the National Survey of Crime Severity conducted by Wolfgang, Figlio, Tracy, and Singer in 1984. We argue that the main advantage of such magnitude estimates is that they incorporate an implicit valuation of the tangible and intangible harmfulness of crimes. They are thus readily comparable to current costs of crime estimates that incorporate contingent valuation methodologies. Magnitude estimates of perceived costs of crime also accounts for the J-curve distribution of crime throughout the population at large.