| New coins for old | Gems and jewelry | Bibliography | Appendix I: The Forum | Appendix II: DMG (2nd Ed.) |
| Dragon | - | Money | - | Dragon 167 |
Table 1
New Standard Coin Values
| Coin values | Metal and symbols used |
| 1 copper piece (cp) | copper -- cu |
| 1 bronze piece (bp) = 2 cp | bronze -- br |
| 1 silver piece (sp) = 10 bp | silver -- ag |
| 1 electrum piece (ep) = 10 sp | electrum -- el |
| 1 gold piece (gp) = 2 ep | gold -- au |
| 1 platinum piece (pp) = 20 gp | platinum -- pt |
Table 2
Ancient World Currencies
* 1 talent = 60 M = 3,000 S
It's the end of a game month, and our
intrepid adventurers are resting before a
warm fire at a comfortable tavern, recovering their strength after
three solid
weeks of wilderness trekking and
dungeon delving using the AD&D® 1st
Edition rules. The DM takes this opportunity
to work out the party's expenses for
the past month.
The group consists of five 7th-level
characters, plus a 6th-level fighter who
started his adventuring career a little later
than the others. According to the 1st Edition Dungeon Master's Guide
(page 25), the characters' expenses are 100
gold pieces
(gp) per level per month. This means that
our stalwart band of heroes must fork
over 4,100 gp. That is 410 lbs. of gold,
enough to fill a small cart! Even converting
to that rare metal, platinum, this works
out at two large sacks of coins!
In addition, the 6th-level character has
finally accumulated sufficient experience
points to go up one level. Having been a
generally superior fighter, he requires
only two weeks of training,
at 1,500 gp
per level per week (DMG, page 86), or
18,000 gp. This is about two small wagonloads of coins (pulled by heavy
horses),
and he has yet to get this enormous quantity of treasure from wherever
he may be
keeping it to the castle of the lord who is
going to train him!
A brief examination of this aspect of the
AD&D game tends to point towards
one or
both of two conclusions:
1. Training and living expenses should
not be so high; or
2. Gold should weigh less and be worth
more.
The first of these has been addressed
before, and so will not be dwelt upon
here. The second has also been touched
upon in several articles. S. D. Anderson, of
Whittier, Calif., stated in "Forum" in
DRAGON® issue #122 that coins should
weigh only one-tenth of their current
value. Lewis Pulsipher, in "A Player Character
and His Money..." in DRAGON issue
#74, suggested a system in which each
coin becomes the size of a dime (about 219
coins per pound). And David Nalle, in an
article called "For the Sake of Change,"
that appeared in DRAGON issue #63, put
forward three proposals:
1. The silver piece (sp) should replace
the gold piece as the standard unit of
purchase (also adopted by Pulsipher);
2. Bronze pieces (bp) should replace
copper as the most common form of small
change, with copper being used rarely
because it does not wear as well; and
3. Platinum should be much rarer (even
nonexistent in many places) and more
valuable than it is now.
<note: platinum is not mentioned in the article>
<it seems that the author is referring to a different article!>
This article adopts all three of Nalle's
proposals, which are based on historical
coinage, along with the idea of using
lighter coins, to produce the following
system.
The sizes of all coins are given in pennyweights (pw). There are 20
pennyweights
to the ounce, and 16 ounces to the pound.
The standard coin (?piece?) weighs four
pennyweights. This gives 80 coins to the
pound, or eight to the standard encumb r a n c e u n i
t ( 1 S E U = 0 . 1
l b s . ) .
The proposal that silver replace gold as
the standard purchasing unit is not difficult to implement. For purists,
simply
divide the cost or value of all things (except gems; see below) by
20, and convert
to the most convenient coin type. I prefer,
however, to use this conversion:
1. All values expressed in "old" platinum
pieces are divided by four to get the equivalent number of ?new? silver
pieces, or by
two to get ?new? electrum pieces (ep);
2. All values expressed in ?old? gold
pieces are converted to the same number
of ?new? silver pieces;
3. All values expressed in ?old? electrum
pieces are halved to find their equivalent
in ?new? silver pieces;
4. All values expressed in ?old? silver
pieces become values expressed in ?new?
bronze pieces;
5. All values expressed in copper pieces
(cp) are left alone.
This system leaves really cheap items at
their current prices. Gems should be left
at their ?old? values in gold pieces to make
them more valuable and rarer.
Let us return to our intrepid adventurers, mulling over their monthly
expenses.
Even the exorbitant price of 4,100 sp is
much more easily handled as 205 gp,
which weighs only a little over 25 SEU and
fits in a small pouch. Similarly, the 6thlevel fighter?s training expenses
work out
to 18,000 sp (900 gp, weighing only 112.5
SEU). This can easily be carried in a backpack with room to spare.
(See Table 1 for
details.)
Does this destroy game balance? Not if
treasure is converted in the same way as
prices. Gold now becomes rare, silver
valuable, and even bronze is worth a
second look. This returns meaning to the
lower-value metals. I mean, when was the
last time that your midlevel party was
seriously excited over a pile of silver? In
my experience, once characters reach
about 3rd level, they adopt a policy of
?Grab the electrum and gold, and leave the
rest!? This coinage system also makes
shopping more reasonable. Instead of
having to cart 40 lbs. of gold down to the
armorer?s to pay for a suit of plate mail, a
character can make the purchase with a
single platinum piece.
Table 3
Medieval European Currencies
| Name | Symbol | Metal | Size (pw) | Value |
| England* | - | - | - | - |
| Farthing | z | c u | 5 | 1 cp, 1/4 d |
| Half-penny | 1/2d | br | 5 | 1 bp, 1/2 d |
| Penny | d | ag | 1 | 1/4 sp, 4 z |
| Groat | gr | ag | 4 | 1 sp, 4d |
| Florin | fl | ag | 20 | 5 sp, 20 d |
| Half-noble | 1/2 Nb | au | 2 | 1/2 gp, 40 d |
| Noble | Nb | au | 4 | 1 gp, 80d |
| Sovereign | sv | au | 12 | 3 gp, 240 d |
| France ** | - | - | - | - |
| Denier Tournois | dt | cu | 6 1/2 | 22/3 Cp |
| Gros Tournois | gt | ag | 4 | 1 sp, 12 dt |
| Ecu D'or (Crown) | Ed | au | 2 | 1/2 gp, 120 dt |
| Italian city-states*** | - | - | - | - |
| Denaro | do | cu | 3 1/4 | 5/6 cp |
| Grosso | go | ag | 4 | 1 sp, 24 do |
| Florin | Fl | au | 2 | 1/2 gp, 240 do |
| Ducat | Dt | au | 4 | 1 gp, 480 do |
| Germanic nations**** | - | - | - | - |
| Pfenning | Pf | br | 4 | 1 bP |
| Groschen | - | ag | 6 1/2 | 1.6 sp, 16 pf |
| Gulden | Gd | au | 4 | 1 gp, 200 pf |
* 1 shilling = 3 gr; 1 pound (£) = 1 Sv; 1 guinea = 21 s
** 1 tournois (st) = 1 gt; 1 livre
= 2 Edsou
* * * 1 soldo (so) = ½ go; 1 lira (lo) = 1 Fl
* * * * 1 schilling (SC) = 12 pf; 1 mark (mk) = 192 pf
Table 4
Near Eastern & Indian Currencies
| Name | Symbol | Metal | Size (pw) | Value |
| Arabia | - | - | - | - |
| Fulus | Fu | cu | 4 | 1 cp |
| Half-dirham | 1/2 Dm | ag | 2 | 1/2 sp, 1/2 Dm, 10 Fu |
| Dirham | Dm | ag | 4 | 1 sp, 20 Fu |
| Quarter-dinar | 1/4 Dn | el | 2 | 1/2 ep, 1/4 Dn, 5 Dm |
| Dinar | Dn | au | 4 | 1 gp, 20 Dm |
| Russia | - | - | - | - |
| 1/4 Kopek | 1/4 K | cu | 4 | 1 cp |
| 1/2 Kopek | 1/2K | br | 4 | 1 bp |
| Kopek | K | br | 8 | 2 bp |
| 5 Kopeks | 5K | ag | 4 | 1 SP |
| 10 Kopeks | 10K | ag | 8 | 2 sp |
| 1/2 Rouble | 1/2R | el | 4 | 1 ep, 50 K |
| Rouble | R | au | 4 | 1 gp, 100 K |
| 2 Roubles | 2R | au | 8 | 2 gp |
| 10 Roubles | 10R | Pt | 2 | 1/2 pp |
| Turkish Empire | - | - | - | - |
| Manghir | mg | cu | 4 | 1 cp |
| Aqche | aq | ag | 2 | 1/2 sp, 10 mg |
| Altun | at | au | 4 | 1 gp, 40 aq |
| Sequin | sn | au | 8 | 2 gp, 80 aq |
| Persia | - | - | - | - |
| Pul | Pl | cu | 8 | 2 cp, 0.2 Sh |
| Shahi | Sh | ag | 2 | 1/2 sp, 5 Pl |
| Abbasi | Ab | ag | 8 | 2 sp, 4 Sh |
| Ashrafi | Af | au | 8 | 2 gp, 20 Ab |
| India | - | - | - | - |
| Paisa | Ps | cu | 2 1/2 | 5/8 cp |
| 2 Paisa | 2 Ps | cu | 5 | 1 1/4 cp |
| 4 Paisa | 4 Ps | br | 5 | 1 1/4 bp |
| 16 Paisa | 16 Ps | ag | 2 | 1/2 sp |
| Xmkah | Tk | ag | 5 | 1 1/4 sp, 5/8 Rp, 40 Ps |
| Rupee | Rp | ag | 8 | 2 sp, 1.6 Tk, 64 Ps |
| Mohur | Mh | au | 4 | 1 gp, 10 Rp, 16 T |
| 2 Mohur | 2 Mh | au | 8 | 2 gp |
| 5 Mohur | 5 Mh | au | 20 | 5 gp |
| 10 Mohur | 10 Mh | au | 40 | 10 gp |
N e w c o i n s f o r
o l d
To add variety and flavor to the campaign, the DM can, if he so wishes,
transform the rather bland coins of the
standard system into ones with character
and history. Consider the ?sovereign currency? described in Table 2.
These coins
could be minted in the country where
your party is adventuring, encountered in
everyday transactions. This also helps the
players adjust to the new buying capacity
of the silver piece and saves confusion
when discussing prices in the official
books. (?Well, the Player's Handbook says
it costs 15 gp.?)
However, not all coins found in the campaign are going to be of this
currency. Coins
from neighboring countries may well be
found in merchant caravans or bandit
hoards. A dungeon built centuries ago may
have ancient coins worth even more than
their metal value. Exotic coins from far-off
lands or other planes may turn up unexpectedly to spice up your campaign.
The government of one country may
outlaw transactions in another country?s
money, especially if its own economy
needs boosting, but would allow characters to trade in foreign coins
with a mere
10% exchange tax levied. The government
would then, presumably, melt down the
foreign coins and remint them with symbols of its own sovereignty,
gaining a major source of revenue into the process.
This is not to say that illegal transactions
won?t take place, and the characters might
find themselves caught up in a blackmarket racket or counterfeiting
ring
To give DMs some ideas for currency
systems, I have researched some real-life
ancient and medieval coin types and converted them to the coinage system
outlined herein (see Tables 2-4). The coin
names are genuine, and I have tried to
preserve their relationships to one another. Nonetheless, learned numismatists
(students of coins) might find discrepancies between this material
and documented facts. These are the result of
trying to fit real-world coinage into the
artificial system of the AD&D game, of the
changes in coin values and relationships
over the years (inflation is not unique to
the modern world), and of incomplete
information, both mine and that of
scholars in general.
Consider a campaign set in medieval
Europe, with the fantasy addition of
magic. The heroes are adventuring in the
Italian peninsula. They must purchase
their food, board, and equipment in grossi,
florins, and ducats. They may, however,
encounter groats from England, crowns
from France, and gulden from Middle
Europe. More exotic coins might be nomismas from the Byzantine Empire,
roubles
from the principalities of Rus, dirhams
from Arabia, or aqches from the Truks. If
the adventurers discover an old treasure
hoard, it might contain Dark Age siliquas
and solidi, denarii from the Roman Empire, or drachmae from Greece.
Shekels
and darics from the ancient world would
be so rare as to be worth more to collectors than to money-changers.
Fantasy coinage is provided in Table 5, in
different systems that could be borrowed
for any fantasy game campaign, whether
AD&D game based or not. Coinage from
Tables 2-5 can be added to your campaign to
provide added depth and complexity if such
is desired.
| 1d100 | Base value | Description |
| 01-55 | 10 gp | Ornamental stones |
| 56-75 | 50 gp | Semi-precious stones |
| 76-85 | 100 gp | Fancy stones |
| 86-95 | 500 gp | Precious stones |
| 96-99 | 1,000 gp | Gem stones |
| 00 | 5,000 gp | Jewels |
| 1d100 | Size | Weight * | Modifier | Quality | Modifier |
| 01-05 | Tiny | 1 | x 1/4 | Flawed | x 1/4 |
| 06-30 | Small | 2 | x 1/2 | Poor | x 1/2 |
| 31-70 | Average | 4 | x 1 | Normal | x 1 |
| 71-95 | Large | 10 | x 2 | High | x 2 |
| 96-00 | Huge | 20 | x 5 | Fabulous | x 5 |
* Weight is in pennyweights.
| 1d100 | Material | Chance of gems |
| 01-05 | Copper | 2% |
| 06-10 | Brass | 2% |
| 11-20 | Bronze | 5% |
| 21-30 | Pewter | 5% |
| 31-35 | Ivory | 0% |
| 36-60 | Silver | 10% |
| 61-75 | Silver & gold* | 10% |
| 76-85 | Electrum | 10% |
| 86-95 | Gold | 10% |
| 96-97 | Turquoise | 0% |
| 98-99 | Platinum | 8% |
| 00 | Coral (75%) or jade (25%) | 0%, 0% |
* Roll 1d6 for silver/gold ratio: 1-3,
75%/25%; 4-5, 50%/50%; 6, 25%/75%.
| 1d100 | Item | Weight* |
| 01-02 | anklet | 1d4 |
| 03-05 | armband | 1d4 + 4 |
| 06-07 | bangle | 1d2 + 2 |
| 08-10 | belt | 1d6 + 4 |
| 11 | blade | 2d10 + 14 |
| 12-14 | box (small) | 1d10 + 10 |
| 15-18 | bracelet | 1d2 |
| 19-21 | brooch | 2 |
| 22-23 | buckle | 1d4 + 1 |
| 24-27 | chain | 2d4 |
| 28 | chalice | 1d4 + 4 |
| 29 | choker | 1d6 + 4 |
| 30-32 | clasp | 1 |
| 33-34 | coffer | 1d6 + 4 |
| 35 | collar | 1d4 + 1 |
| 36-37 | comb | 1d4 + 1 |
| 38 | coronet | 1d4 + 6 |
| 39 | crown | 1d10 + 10 |
| 40 | dagger | 1d8 + 6 |
| 41-42 | decanter | 1d6 + 8 |
| 43 | diadem | 1d4 + 2 |
| 44-47 | earring | 1 |
| 48-51 | goblet | 1d4 + 2 |
| 52-53 | headband | 1d4 + 1 |
| 54-56 | idol | 1d10 + 4 |
| 57-58 | knife | 1d4 + 2 |
| 59-60 | locket | 1d4 + 2 |
| 61-63 | medal | 1d4 |
| 64-68 | medallion | 1d4 + 2 |
| 69-74 | necklace | 1d4 |
| 75-77 | pendant | 1d4 + 2 |
| 78-82 | pin | 1/2 |
| 83 | orb | 2d6 + 3 |
| 84-91 | ring | 1 |
| 92 | scepter | 10d4 + 10 |
| 93-94 | seal | 2d4 |
| 95-97 | statuette | 10d4 |
| 98 | sword | 10d4 + 20 |
| 99 | tiara | 1d4 + 4 |
| 00 | special ** | - |
* Weight is in SEU.
* * Jeweled armor: Roll on Table 12.
| 1d100 | Item | Weight* |
| 01-05 | helmet | 45 |
| 06-10 | breastplate | 100 |
| 11-34 | thigh guard | 30 |
| 35-60 | shin guard | 30 |
| 61-66 | knee guard | 10 |
| 67-84 | bracer | 20 |
| 85-00 | shoulder guard | 40 |
* Weight is in SEU.
| 1d100 | Quality * | Multiplier |
| 01-05 | atrocious | x 1 |
| 06-20 | poor | x 1 1/2 |
| 21-50 | fair | x 2 |
| 51-83 | good | x 5 |
| 84-98 | excellent | x 10 |
| 99-00 | unique | x 20-50 |
* Based on craftsmanship.
Table 12
Number of Gems in Jewelry
| Jewelry weight (SEU) | Number of gems | Gem size modifier |
| up to 1 | 1d2 | -10% |
| 2-10 | 1d4 | 0% |
| 11-20 | 2d4 | +5% |
| 21-50 | 3d4 | +10% |
| 51-100 | 5d4 | +15% |
Table 13
Jewelry Metal Modifiers
| Jewelry metal | Modifier |
| Copper/brass | -15% |
| Bronze/pewter | -10% |
| Silver | -5% |
| Silver & gold | 0% |
| Electrum | +5% |
| Gold | +10% |
| Platinum | +15% |
G e m s a n d j e w e
l r y
While we?re on the subject of treasure,
let?s take a closer look at gems and jewelry.
Gems, as mentioned before, are now
w o r t h 2 0 t i m e s a s
m u c h a s f o r m e r l y - s o
they need to be at least 20 times as rare.
The gems found should also be weighted
in favor of low-value items, if you don't
want a few 500-gp gems (now worth
10,000 sp each, remember?) to give the
heroes more money than they can handle.
Also, the method for determining the
variation of the base value of a gem should
be tied to its size and quality. Finally, jewelry's
value should be dependent upon its
material, weight, and craftsmanship, plus
extra for any gems in it.
When rolling for the base value of gems,
either individually or in groups, use Table
6. This base value is modified by rolling on
Table 7 twice, once for size and once for
quality, each roll having its associated
value modifier.
When generating jewelry, first determine the precious metal or mineral
from
which the jewelry is formed (Table 8) and
the jewelry?s weight (Tables 9-10). These
give the item?s base value: Simply multiply
its weight (in SEU) by eight to get the
equivalent number of coins of the metal
from which it is made. For precious minerals and pewter, the following
exchange
rates are used:
1 p e w t e r u n i t
= 1 b p
1 i v o r y u n i t
= 1 s p
1 t u r q u o i s e u n
i t = 5 g p
1 c o r a l u n i t
= 2 0 g p
1 j a d e u n i t
= 5 0 g p
The base value of a piece of jewelry is
modified by two things: its level of craftsmanship and the presence
of any gems.
Craftsmanship is primarily what makes
jewelry more valuable than the raw metal
or mineral, and it acts as a multiplier to
the item?s base value (see Table 11).
Gems set in jewelry add double their
value to that of the jewelry piece. For the
number of gems appearing in a piece of
jewelry, consult Table 12; roll for gem
values on Tables 6-7.
Apply the additional metal modifiers to
all relevant tables (cumulative with those
given for gems in Table 7, in the case of
size) given in Table 13.
This system makes for much more interesting gems and jewelry. Care
must be
taken, however, not to let these become
too common, in light of the change from
the gold piece standard to the silver piece.
When using treasure-types tables or
hoards detailed in modules, use the following conversion method:
1. Every gem should be 20 times as
rare -- therefore, for each gem indicated,
roll 1d20 and include the stone only if a 20
is the result (re-create the gem under this
system, if so); and
2. Re-create all jewelry items under this
s y s t e m.
These suggestions should make treasure
rarer and more appreciated, while also
making the character's lives easier. No
more lugging around huge sacks of gold to
pay the bills, when a few platinum pieces
will do the trick!
[Alternate systems of coinage were
suggested in David S. Baker's "Many Kinds
of Money" in issue #114. Other ideas
on
coinage--and the troubles involved in
developing and storing it--appear in David
F. Godwin's "How Many Coins In a Coffer?"
from issue #80, reprinted in the Best of
D R A G O N M a g a z i n e a n t h o
l o g y , v o l . V T h e
2nd Edition DMG has an excellent discussion of historical
coinage on pages 32-34.]
B i b l i o g r a p h y
Price, Martin J., general editor. Coins: An
Illustrated Survey, 650 B.C. to the
Present Day. New York: Methuen Inc.,
1 9 8 0 .
Porteous, John. Coins. London: Octopus
Books Ltd., 1973
DM: (Playing the role of an alchemist)
“That
will be 1,000 gold.”
Player: “I pay him with that silver we found. I
want to hang on to my gold for now.”
Ok, be honest. How many of you would have
let that scene by in you games? Oh, 7 out of 8
DMs might remember at that moment that
1,000 gold equals 20,000 silver, but maybe one
of that group might recall that 1,000 gold equals
100 lbs of gold, and our player would have to
have a ton of silver on him to make payment.
The problem stems from the fact that the gold
piece is a terrible monetary unit. It is 60%
bigger than a double eagle or any of the other 1
oz. gold coins available on the open market, and
those coins are too bulky and heavy for pocket
money even if they had values that made spending them convenient. One
tenth of a pound is a
lot of weight.
This was done back in the original days to
avoid currency exchange rates as characters
traveled across the land. If X number of florens
are worth Y livres, calculating the character’s
monetary worth became an annoyance. The
weight was set at .1 lb. instead of .01 lb. because
DMs use treasure to figure out the amount of
experience the players earned, and 100 xps per
pound of gold seemed excessive.
To complicate matters, in the name of instilling “atmosphere” in the
game, the gold piece
weight unit, clearly derived from the pound, is
used instead of a more familiar unit for virtually
all weights except a character’s body weight. In
practice, instead of using units that people
would use, we are stuck with unfamiliar units
and too often end up with characters who hold
vast mountains of coins in itty bitty pouches.
There is a simple solution to all of this: Ditch
the gold piece as a weight unit and quit giving
xps for gold taken. Seven pounds of gold coins
are at least as concrete a concept as 70 gold
pieces, and it doesn’t require that all coins be
the same size and weight. Converting existing
price tables to the weight of gold needed to
purchase an item consists of dividing the price
in gps by 10. DMs who wish to build medieval
currency exchanges into their campaign are
free to do so, since any coin may now be the
size desired. Coins from politically dominant
realms will probably have a slightly higher
purchasing power than their gold value indicates, but not much if the
weight of the metal is
used as it’s value.
More to the point, players will be able to think
and plan in real terms throughout the adventure in the logistics of
the game. If the drow
treasure room has more gold than the party can
carry, and it’s too unlikely for them to get
another shot at the vault, they will know to
trash what treasure they can’t carry so the
drow can’t use it. When using fictional units, it’s
too easy to say “I put it in my backpack.”
Money is it’s own reward. Experience points
should be given out only when a character
learns something of note. How a character
spends, loses, or saves money is something that
might be worthy of bestowing experience, but
simply getting it isn’t. When Maria the thief
picks a pocket, she should get the same xp
reward for getting a 1,000 gp necklace as she
would for getting 12 copper pieces. It’s the same
act, just different results on the treasure table.
The only modifications for rewarding such an
act should be if the player used an exceedingly
brilliant (or stupid) means that worked. Excellent ideas should be
rewarded, while poor ones
that had the benefit of incredible dice rolls
should be reduced.
The same thing should apply to magical items.
Getting possession of a rod of resurrection
shouldn’t be enough to push a fighter up a level.
In this case, the character can’t even use the
item. This is a real drag, but every class has
items restricted to it’s own members, so it
should even out.
If a character has such an item, it should be
easier to get experience by proper use of it, but
simply getting it is not and should not be worth
any experience.
To save arguing, try the following: Take two of
your better-equipped characters and have them
meet somewhere. Sell each character the other’s
equipment, one transaction at a time, and mark
down the price paid and xp value of each item.
Then, reverse the process, so each character
ends up with his original cash and items, again
making note of the price paid and xp value of
each item.
Total the xp value of the items. Total the
amount of money each character received for
each transaction, adding 1 xp for every gp
gained. Give them the experience they “earned”
for getting the cash and various items. Total
each character‘s experience and see if either or
both go up a level for sitting at a table one
afternoon and passing objects back and forth,
Then send in any arguments on the merits of
letting treasure found determine experience
earned.
S.D. Anderson
Whittier CA
(The Forum, 122.10)
Appendix II: Dungeon Master's Guide (2nd Ed), pages
32-34
| A Short History of Commerce | Goods | Letters of Credit | Barter | Coins |
| Types of Coins | - | - | - | Money |
A Short History of Commerce
Monetary systems aren't always based on coins. Many different forms
of exchange can
be in use simultaneously. Take, for example, the real world around
the year 1200.
Currency included the regulated gold and silver coins of Byzantium
and the Middle East,
the licensed mints of England, the paper currency
of China, the cowrie shells of Oceania,
and the carved stones of Aztec lands. These were only a few forms money
could take.
Goods
Vigorous trade was done in goods. Grain, cattle, sheep, wool, jewelry,
foodstuffs, and
cloth were all items of value. A canny Venetian merchant would sail
from Venice to
England with a load of silks, trading it there for good English wool
(making sure he made
a profit), and return to Venice to sell the wool for another load of
goods for England.
Letters of Credit
Eventually letters of credit and contracts grew. Now the Venetian merchant
could sail
to England to collect wool gathered by contract from a monastery. In
return for their wool
shearing for five years, he would guarantee them set payments in ducats
or florins,
although he normally brought them goods they ordered from Venetian
merchants--silks,
spices, glassware, or wine. Thus he made a profit from the wool back
in Venice and a
profit from buying goods for the English monastery.
On his return to Venice, the enterprising merchant would sell his cargo
to the wool
merchant in return for a note, and then take this note to a glassmaker
and sell it for a load
of valuable Venetian glass.
In time, the notes led to the rise of banking houses, though much different
from the
banks we know today. Intended mainly to finance large deals and serve
the wealthy
merchants, there were few controls on these banks. They were definitely
not for the
common man. They were not places you stored your money for a rainy
day, but houses
that guaranteed the value of a merchant's note or contract, all for
a fee.
Barter
Other economies, especially those of primitive lands, worked entirely
on a barter
system. What a man could produce became his money. The farmer paid
the miller in
bushels of grain. The miller paid his lord in ground flour. When the
flour was baked into
bread, the baker was paid in loaves of bread. These he could sell for
the few coins, fresh
eggs, or whatever luxuries might be available.
During the Dark Ages even a man's life could be measured in cows, horses,
or sheep.
Kill a serf and you had to pay--perhaps five sheep, some to his lord
and some to his
family. The cost for a freedman would be even higher. Rents, taxes,
and fines could be
assessed in gold or grain. Eventually objects were assigned specific
values. In parts of
medieval Russia, furs were used almost like coins. Squirrel,
ermine, and martin pelts all
had values and were treated just as we treat money today.
As barter systems became more sophisticated, they included more things.
Obligations
and duties became part of the formula. A knight received land from
his lord, but part of
his "rent" was the obligation to make himself and a set number of mounted
soldiers
available to serve in his lord's armies for 40 days each year. The
serf was obligated to
work his lord's land and live in the same village all his life. You
might adopt an economy
like this in your campaign world--one based on obligations.
For the most part, the economies of the medieval period were based
on a combination
of coins, goods, and services. The knight could escape military service
by paying a
special tax to his lord. The king could insist that foreign merchants
acquire goods only
through barter. The baker could be paid a small wage for his services.
Generally, changes
occurred slowly as medieval man moved from a barter system to a coin-based
economy.
Thus, many different methods existed side-by-side.
Coins
Generally, lands near each other, sharing a common group of people
or a common
language have very similar economies. The countries of medieval Europe
traded with
each other regularly and so developed very similar coins and values.
Kingdoms also tend
to imitate the economy of the most powerful country in the region.
The Byzantine Empire
had a stable gold currency, and its coins were the model for rulers
from Baghdad to
Denmark.
The value of a foreign coin was based on the weight of the coin, but
also on the power
of the issuer. The Byzantine besant was not only limited by other lands,
but it was highly
valued in trade. An English merchant would
accept these coins from a Venetian trader
because he knew their value. His price might increase if the trader
paid him in Persian
dinars. To the merchant, the dinar was simply not as valuable as the
besant.
You can add color to your campaign by choosing to have different systems
of trade in
different lands. By creating different currencies and ways of trading,
you make your
players aware of the different kingdoms in your fantasy campaign. This
makes them pay
attention and learn about your world. A traveling merchant who trades
in besants
becomes a wealthy trader from the rich lands of Byzantium, while one
who deals in
hacksilver is a northerner from the cold shores of Scandinavia. These
names and places
create images, images more compelling and exciting than those created
by the plain
words "merchant'' or "trader."
Types of Coins
The terms "gold piece" (gp), "silver piece" (sp), and "copper piece"
(cp) are clear and
they are used throughout these game rules. But you can spice them up
a bit. People give
coins names, whether as plain as "dime" or lively as "gold double-eagle."
The imaginary
population of a fantasy world should be no different. Medieval history
is filled with
different types of coinage, all of which can add local color to your
campaign.
Take, for example, the situation of a mercenary
captain in Aquitaine. Through wages,
booty, and trading he has assembled quite a few coins. Foremost of
his horde are the gold
and silver coins of Byzantium--the besant, hyperpyron, or nomisma as
they were known
at different times. An Italian general paid him in coins almost equally
valuable, the gold
florin and ducat. Mixed in with these were other coins of the Italian
states--silver grossi
and ecu. From the French he collected gros tournois, Rouen pennies,
and louis. A
Moorish hostage bought his freedom with silver drachmas and a German
merchant of the
Hanse paid the heavy toll of a gold mark. Part of the spoils of war
include solidus aureus
and denarii of Ancient Rome, though these coins are so badly worn their
value has
dropped greatly.
One of his men even came across a horde of hacksilver bracelets! Finally,
from his
English employers he received pounds, shillings, and pence. Clearly
the captain is faced
with a problem when he tries to figure out just how much money he has.
What do these
coins add up to?
The besant, hyperpyron, and nomisma were the standard coins of the
Byzantine
Empire. They were of a regular size and the precious metal was not
debased with lead or
copper. Backed by the power of the Emperor, each coin had a steady
value. In your game,
you could establish their value at one or two gold pieces each.
The florin and the ducat were the coins of different Italian states.
These lands, rising in
trading power, needed a steady economy. Thus their coins were almost
the equal of the
besant and were used for trade throughout Europe. Each florin might
be equal to a gold
piece. The gross was a silver penny and, normally, 12 equalled one
florin.
The coins of France were much like those of Italy and could be valued
the same way.
The louis and the sous were the equal of the florin while the gros
tournis and the denarius
were silver pennies. However, the Rouen penny was specially minted
and not considered
as valuable by most traders.
The Middle Eastern drachma was modeled on the besant. Normally 12 to
20 were
equal to a single besant (6-10 would equal one gp) but in Aquitaine
they were often
valued just like other silver pennies. The gold mark wasn't so much
a coin as a measure.
It was normally figured to be worth six English pounds. There were
also silver marks
worth about 13 shillings, and Scandinavian ora worth 16 pence. But
the true value of
these coins was what you could get for them.
The English coins included the rarely seen pound, equal perhaps to
one gp. More
common were silver shillings, officially figured at 20 to a pound (or
half a sp). Below the
shilling was the pence, 12 to a shilling, and below the pence was the
farthing, four to a
pence. Meanwhile, the lowly Rouen penny was figured to be equal to
half a pence.
Of the ancient coins, the Roman solidus aureus was the model for the
besant and thus
nearly all other coins. It in turn was divided into silver denarii
with 12 to 40 equaling a
single solidus. However, age and counterfeiters reduced the value of
these coins so much
that their only true worth could be found in what they weighed. During
the same time,
Scandinavians used hacksilver--silver jewelry. When they needed to
pay, they could cut
off a chunk from an armband or bracelet and weigh it, thus the name
hacksilver. They
literally wore their money!
Clearly, money is no simple, universal thing. Each nation and each
time has its own
coins with its own values. Your player characters may travel through
many different
lands and find long-lost treasures. It will be much more exciting for
your characters to
find 600 ancient tremissa from the rule of Emperor Otto 400 years before
than to find yet
another 600 silver pieces. With a little imagination and research at
your local library, you
can find many different examples to add to your campaign.
