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The four is in the hundredths place.
Its value is 4,000 = four thousand
Place value is not used in the Roman numeral system.
The face value of the 4 is four The place value: it is in the thousands column, so the 4 is four thousand. The difference is 4000 - 4 = 3996. Alternatively, its place value is 1000 times its face value. The 4 would only have its place value and face value equal when it is in the ones column.
4 is in the unit position and so its value is four