This study examined the relative reinforcing potency of vouchers and cash in drug-dependent pregnant women (N = 48) across voucher values (US 10 dollars, US 50 dollars, and US 100 dollars) by use of a series of choices to understand how exchange-delay features of voucher reinforcers influence their reinforcing potency compared with cash. The study also examined a no delay vs. 2-day delay of the cash alternative. Generally, cash was selected at 80%-90% of voucher face values. Vouchers were also discounted less when a 2-day delay was imposed on the cash option compared to the immediately available cash. These results suggest that voucher discounting does occur among patients in drug treatment. However, vouchers retain 80%-90% of their cash value and thus remain relatively potent reinforcers.