I too had no idea what the going rate was....when my daughter was 4 she proclaimed a loose tooth Christmas Eve! I was hanging by a thread! I told her that the tooth fairy and Santa Claus can't run into eachother, lol. I know others give larger amounts for the FIRST tooth, but, I didn't. Heck it WAS Christmas, she did pull it out early Christmas morning. I gave her one dollar. I am a single Mom, and, for all of the time, we were very much without money.
*Each and every time she lost a tooth, it was dusted with "FAIRY DUST" a bit of stick glue and glitter, and the tooth fairy left a trail from the window to the bed.
*On vacation, the tooth fairy came prepared, and too much to her surprise, and more so to her cousins, the trail was there, as was the glittery money.
*The tooth fairy did forget on occassion to bring the money in a timely fashion. So, a letter of apology was written on very pretty paper and left along with the money.
*My daughter enjoyed the letters so much, she began having a 'penpal' relationship with the toothfairy. I have saved these letters, they are SO precious. When she lost the last tooth, a goodbye letter was left.
*Daughter is now 12, she has saved each and every toothfairy dollar she has gotten, and still talks about how wonderful the toothfairy is. (She KNOWS, but, its one of those unspoken things)
Those are my thoughts, and I hope someone gets some use out of my suggestions.