standard currency Tradition / Ritual in Scarterra | World Anvil

standard currency

Most Scarterran nations use the same or a very similar system of a precious metal based economy.   A standard coin is made of copper, silver, gold, or on rare occasions platinum and weighs 1/50th of a pound. So a pound of gold is worth is 50 gold pieces and a pound of silver is worth 50 silver pieces, and so on and so forth.   Bullion is usually traded in 5 pound bars worth 250 standard coins of their type.   Coins are sometimes chopped in half or quarters to make half coins or quarter coins. Sometimes smaller coins are minted which weigh a 1/100th of a pound or 1/200th of a pound respectively and officially. These are called ha'coins or quarter coins.   Most coins are stamped with the portrait of a king or queen on one side and a corresponding national coat of arms on opposite side. Coins are not valuable because they have a picture of a monarch stamped on them, they are valuable because they represent a known quantity of a precious metal. Essentially, the king or queen's potrait signifies that the monarch is ensuring that the weight and purity of this coin is within standard parameters.   Defrauding somone with a devalued coin is a serious offense. Most coins are ridged to prevent coin shaving and most merchants won't accept a coin without ridges or they will break out a scale to verify a coins weight.  

In terms of value

  ten copper pieces equal a silver piece   Ten silver pieces equal a gold piece   Five gold pieces equal a platinum piece.

History

Phidas gave mortals the concept of currency as his Gift to mortals.   During the First Age, most currencies were based on precious metals, specifically. Gold, silver, and Platinum. Currency denominations and forms varied a lot from nation to nation.   During the Second Age, the Keepers and the Masks worked together to create a standard system of weights and measures to standardized coinage. By the end of the Second Age, nearly every elf nations had adopted the standard exchange rate.   Early in the Third Age, human tribes relied on barter or widely varying local currencies but most humans societies adopted the standard coin system before the end of the Red Era.
For a rough idea of the buying power of Scarterran coins check out.   I'd buy THAT for a copper piece! WIP   I'd buy THAT for a silver piece! WIP   I'd buy THAT for a gold piece! WIP
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