Officially, yes, something of value. In practice, just something.
> To my mind the acquiring and delivering of the [used chocolate bar] wrappers was
certainly part of the consideration in these cases, and I see no good reason
for drawing a distinction between these and other cases. — Lord Reid
> It is said that when received the wrappers are of no
value to Nestlé’s. This I would have thought irrelevant. A contracting
party can stipulate for what consideration he chooses. A peppercorn does
not cease to be good consideration if it is established that the promisee
does not like pepper and will throw away the corn. — Lord Somervell of Harrow
> To my mind the acquiring and delivering of the [used chocolate bar] wrappers was certainly part of the consideration in these cases, and I see no good reason for drawing a distinction between these and other cases. — Lord Reid
> It is said that when received the wrappers are of no value to Nestlé’s. This I would have thought irrelevant. A contracting party can stipulate for what consideration he chooses. A peppercorn does not cease to be good consideration if it is established that the promisee does not like pepper and will throw away the corn. — Lord Somervell of Harrow
https://www.bailii.org/uk/cases/UKHL/1959/1.html