Economics of Eíre

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.

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.

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.

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.

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.