Estimate \Es"ti*mate\, v. t. [imp. & p. p. Estimated; p. pr. & vb. n. Estimating.]

[L. aestimatus, p. p. of aestimare. See Esteem, v. t.]

1. To judge and form an opinion of the value of, from imperfect data, -- either the extrinsic (money), or intrinsic (moral), value; to fix the worth of roughly or in a general way; as, to estimate the value of goods or land; to estimate the worth or talents of a person.

It is by the weight of silver, and not the name of the piece, that men estimate commodities and exchange them. --Locke.

It is always very difficult to estimate the age in which you are living. --J. C. Shairp.

2. To from an opinion of, as to amount,, number, etc., from imperfect data, comparison, or experience; to make an estimate of; to calculate roughly; to rate; as, to estimate the cost of a trip, the number of feet in a piece of land.

Syn: To appreciate; value; appraise; prize; rate; esteem; count; calculate; number. -- To Estimate, Esteem. Both these words imply an exercise of the judgment. Estimate has reference especially to the external relations of things, such as amount, magnitude, importance, etc. It usually involves computation or calculation; as, to estimate the loss or gain of an enterprise. Esteem has reference to the intrinsic or moral worth of a person or thing. Thus, we esteem a man for his kindness, or his uniform integrity. In this sense it implies a mingled sentiment of respect and attachment. We esteem it an honor to live in a free country. See Appreciate.

Source: Webster's Revised Unabridged Dictionary (1913)