The ability to prioritize remembering explicitly valuable information is termed value-based remembering. Critically, the processes and contexts that support the development of value-based remembering are largely unknown. The present study examined the effects of feedback and metacognitive differences on value-based remembering in predominantly White adults from a Western university (N = 89) and children aged 9-14 years old recruited nationwide (N = 87). Participants completed an associative recognition task during which they memorized items worth varying point values under one of three feedback conditions (point feedback, memory-accuracy feedback, or no feedback). Developmental differences emerged such that children were most likely to selectively remember high-value items when receiving memory-accuracy feedback while adults were most selective when receiving point-based feedback. Furthermore, adults had more accurate metacognitive insight into how value impacted performance. These findings suggest developmental differences in the effects of feedback in value-based remembering and the role of metacognition.