Currency

There are innumerable types of currency used across Erden. This article will summarize some of the more common types and their history.
Holmgardian Coinage


Prior to the Battle of Frostfang Pass, Holmgardian tribes used iron bars as a form of primitive currency. The Khazak dwarves introduced them to true coinage, and Holmgardian minting reached a pinnacle of craftsmanship in the 5th-6th centuries, rivalling that of dwarven and elven craft as art form.
With the decline of the Empire, the quality of Holmgardian currency has declined also. Some examples can be seen below.

by Jernau_M_Gurgeh

  Above: Geltmarken across the eras. Top left: Geltmark from the mid 500s; Emperor Thoric Graelingard the Great. Reverse: "Tyr above all". Top right: Geltmark from the early 600s; Emperor Cardalos Graelingard I. Reverse: "The Empire is sacred, the Emperor is the law" Bottom left: Geltmark from the late 600s. Emperor Cardalos Graelingard II. Reverse: "Praise Tyr". Note the decline in quality and debasement of later coins. Bottom right: Geltmark from the early 700s. Emperor Karl Lothar Graelingard. Reverse: "Edict of Karovin ; Tyr, Kelemvor". During the reign of Karl, the quality of coinage improved considerably. 
There are 10 copper Pfennigs in a silver Schilling, and 10 silver Schillings in a golden Geltmark.
Geltmarken:
The most valuable Holmgardian coin, the Geltmarken is theoretically made of pure gold, though has been greatly debased in recent centuries. Colloquially known as "hammers", or more often simply as "gold". A skilled artisan might make a geltmark in a day, which would be enough for room and board in an inn and then some.
Schilling:
Schillings are the most commonly used coin in large transactions. A large silver coin depicting a stylized crown, the Schilling is sometimes called a "crown" but more often than not, simply "silver". A peasant may earn no more than a schilling or two in a day, barely enough to make ends meet.
Pfennig:
Small transactions are typically carried out in copper pfennigs. The coin of the lower classes, pfennigs typically carry no more than an extremely crude depiction whatever local lord minted them. A couple pfennigs would buy a loaf of bread.