Economics of Eíre: Difference between revisions

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New page: The basic monetary unit is a one-ounce silver coin, minted in various kingdoms according to ancient standards and practices. Each of the kingdoms honors the silver of the other kingdoms. S...
 
 
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The basic monetary unit is a one-ounce silver coin, minted in various kingdoms according to ancient standards and practices. Each of the kingdoms honors the silver of the other kingdoms. Silver pieces minted in Ulaidh are honored in Midhe, and vice versa. An ancient treaty governs the recognition and exchange of currency between kingdoms.
== Basic Information ==
The first locally produced Irish coinage was minted in Dublin in 2929 KE, under the authority of Sithric III (aka Sithric Silkbeard), the Norse king of Dublin.


The value of the silver however is subject to market dynamics. In most kingdoms, the silver piece maintains a stable value relative to gold and precious stones. There are kingdoms however where silver it either without value, or valued beyond gold. While the exchange rate of silver is set even by treaty, what a silver coin buys in one place is not the same as another. Some merchants are even known to raise their prices upon seeing the coin of certain realms, effectively devaluing that currency.
By Eireann law, gold coins are minted by kingdoms and stamped with the visage of the king who ruled at the time of minting. Kingdoms and baronies may produce both silver and copper coinage. Both gold and silver coin may be broken up into bits. All forms of silver and copper coinage, even foreign, are accepted throughout the land.


Copper coins are used in small transactions, such a buying a pint of ale or a small meal. Coppers are minted by each kingdom and honored only within that kingdom’s borders. Those traveling to other kingdoms must stop at an exchange, located in most cities and some towns. The private exchange of coin is forbidden in most kingdoms.
== Exchange Rate ==
Prior to the Great Devastation of 3098, the value of coinage was regulated by the king's law, with the value of one pound of silver set as the guiding standard. Since the Devastation the value of precious metal has fluctuated and exchange rates vary wildly between areas.  


Gold is of course more valuable than silver or copper, and more rare. The kings hoarded most of the gold above-surface decades ago, and the gold which still lays beneath the earth is not accessible by current technology. Some say tribes of dwarves in the Outlands now mine the hills and mountains in those lands, and that gold is plentiful throughout.
The following exchange rates were decreed by historic Eireann law and may be seen as a rule of thumb. Gold coinage is rarely seen in these times, and its value has increased in recent months.


Though they are not valued publicly by market, precious stones are commonly used throughout the lands of Eire as currency in transactions. The value of a stone will vary from appraiser to appraiser, making it impossible to predict what a particular gem might fetch upon sale.
:* Gold coin = $80 (often valued at $100 or higher in post-Devastation economy.)
:* Silver coin = $4
:* Copper coin = $1
 
[[Category: GURPS Eíre]]

Latest revision as of 21:42, 12 April 2011

Basic Information

The first locally produced Irish coinage was minted in Dublin in 2929 KE, under the authority of Sithric III (aka Sithric Silkbeard), the Norse king of Dublin.

By Eireann law, gold coins are minted by kingdoms and stamped with the visage of the king who ruled at the time of minting. Kingdoms and baronies may produce both silver and copper coinage. Both gold and silver coin may be broken up into bits. All forms of silver and copper coinage, even foreign, are accepted throughout the land.

Exchange Rate

Prior to the Great Devastation of 3098, the value of coinage was regulated by the king's law, with the value of one pound of silver set as the guiding standard. Since the Devastation the value of precious metal has fluctuated and exchange rates vary wildly between areas.

The following exchange rates were decreed by historic Eireann law and may be seen as a rule of thumb. Gold coinage is rarely seen in these times, and its value has increased in recent months.

  • Gold coin = $80 (often valued at $100 or higher in post-Devastation economy.)
  • Silver coin = $4
  • Copper coin = $1
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