I can't understand very well..
So does this mean something like "stand against value?" And what would be a better, "smoother" translation?
Stand is just the noun of stehen.
A Gegenstand may be translated as an opposing thing. The word was formed in the 18th century and called the thing standing in front of you. But it does not necessarily really be in front of you anymore. Today you may use the word in a metaphorical sense, as an object or a deed may be the Gegenstand of your conversation.
As no one cares for such subtleties of language anymore you may be able to just translate it with an object or even a thing.
If something is called a Wertgegenstand it's -quite simple- a worthy object -> valuable article.
Hope got this now :)
To explain the left right info: It's a neologism, which is made by a noun (Wert) and another noun (Gegenstand) and has no interfix* between them.
*(Dont know how popular this word is, but there are no letters between Wert and Gegenstand)