Are replica coins of value

Generally no. Most replica coins are made of base metals and plated with a thin coating of silver or gold that would cost more to remove than it's worth.

However some replica coins are made as bullion pieces. They have a specific amount (e.g. 1/2 oz) of gold or silver and can be sold for the current value of the metal they contain. You have to be very careful though because the coins' authenticity and purity are only as good as the promise of the company that manufactured them. It's usually better to stick with bullion coins issued by a country rather than a private company - e.g. US "eagle" coins, Australian "koala" pieces, South African krugerrands, and so on.

Even if a replica coin isn't valuable you may still want one as an example of what the real thing looks like. For example many companies sell miniature replicas of the famous 1933 $20 US gold piece. The real ones are worth millions, possibly tens of millions, and are illegal to own. A replica could be bought for a few dollars. It's a bit like owning a print of The Mona Lisa. You can't sell it and it won't fool anyone into thinking it's the real thing but otherwise you couldn't hang the image in your living room.

The replica coins are valuable in a sense of purchasing them but you cannot use them for any other purposes. The replica coins are good for teachers, collectors and children fro understanding the history (as these were the part of medieval times).