Gold Pieces

The Morning Realm    Magic and Technology      Gold Pieces

Gold Pieces (symbol: ℜ; abbreviated gp), also known as drakes, are the most common currency in the realm. The coins are minted and distributed by the Gilded Hoard, who issues three coins; the Gold Drake, the Silver Sun, and the Copper Cent.
The coins are all minted out of enchanted wyrmetal from the hoard of Esereum, the dragon owner of the Gilded Hoard. This magical draconic nature prevents the coins from being debased or otherwise altered against their will, and allows Gilded-Hoard Certified Wizards of Accounting to Summon or Banish Currency, and merchants to verify the coins with portage.
The value of the Gold Drake has been tied to the Diamond Standard since 225 IE.

Standard Exchange Rates

Name	1ℜ	1ℇ	1∉
Gold Drake	1ℜ	0.1ℜ	0.01ℜ
Silver Sun	10ℇ	1ℇ	0.1ℇ
Copper Cent	100∉	10∉	1∉
Powdered Diamond	10 ct	1 ct	—

Gold Pieces

by Annie Stein

Issued by	Gilded Hoard
Superunit	5 — 1 lb. Silver Bar 50 — 1 lb. Gold Bar
Subunit	1⁄2 — Copper Bar 1⁄10 — Silver Sun 1⁄100 — Copper Cent
Symbol	ℜ, gp Dime — ℇ, sp Cent — ∉, cp
Introduction	698 WE, 314 years ago

History

Most early currencies and coins were valued primarily by their weight and purity rather than their face value. Heavy bullion coins were frequently traded between merchants, and change was made by cutting the coin up much like slices of a pie. An eighth was known as a piece or a bit, with a fourth or half known as two-piece or four-piece respectively.

The First Mint

The Gilded Hoard, then known as the Medivetti Bank, began melting down bullions and minting smaller coins in 648 WE to meet this demand for lower dominational currency. The first to be minted was the Silver Sun, which had the same value as a piece, and copper dimes, which were worth a tenth of the suns. It was quickly adopted. The rounded coins were far nicer to use than the sharply-edged pieces.
Despite, or perhaps because of, it's great success and massive profits, after only six years the Medivetti bank stopped minting. The Medivetti Bank stopped producing coins from 654 WE until 664 WE, focusing on their standard financial services.

Denouncement

In 664 WE the Medivetti Bank announced that they would start minting again, and that they'd developed enchantments that protect their coins from debasement. They were lambasted by the guilds and ridiculed. Economists of the time denounced the bank, claiming such enchantments, while possible, were far too expensive to be preformed on coinage. It was impossible that the coins that would enter circulation would have the same enchantments as the coins the Medivetti used in their demonstrations. The Medivettis became, for a time, synomous with charlatans.
They persisted with the mint. The coinage saw little use until an economist with a personal grudge against the Medivetti family saw fit to prove what everyone knew, and show that the family were undeniably charlatans. The economist collected as many of the new coins as he could, and gathered the Guilds of Metallurgy to view as he shaved the standard coins. His dagger chipped on the first one. The only Medivetti Silver Sun he could easily debase was a coin from their earlier mint, marked 649 WE. The Medivettis couldn't have paid for better marketing.
It still took a while before the coinage saw widespread adoption.

The Reveal

As soon as the Medivettis claims that the coins were resistant to debasement was proven true, the other banks launched into investigations on how exactly the Medivetti family was able to enchant their coins. It was a sorcerer of the draconic tradition who first clued in to the nature of the coins, and who courteously sent a letter to the Medivetti family about their discovery.
In 698 WE the Medivetti announced that they were rebranding to the Gilded Hoard. They revealed their collaboration with the dragon Esereum and introduced a new coin to their collection in their honor, the Gold Drake. The drake was made their new standard, and the Copper Dime bacame the Copper Cent.

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Summary

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Medivetti Bank

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648 WE — Silver Sun & Copper Dime Introduced

654 WE — Minting is paused.

664 WE — Minting resumes, Silver Suns & Copper Dimes are now enchanted. Initial response is disbelief.

665 WE — Economist tries to disprove the claim that the coins are enchanted, and ends up proving that they are.

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Gilded Hoard

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698 WE — Gold Drake introduced, and becomes new standard. Copper Dime is renamed to Copper Cent.

225 IE — The Gold Drakes are bound to the Diamond Standard.

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Issued Coins

Gold Drake

The Gold Drake is the standard unit of the Gold Pieces since it's first mint in 665 WE. The coin is generally minted in collaboration with the government. The design of the obverse or head is decided by the local government, typically the reigning monarch, and the reverse or tail is depicts a dragon.
While Gold Pieces are the standard unit, the coins themselves are not commonly circulated due to their high value.
In the Argosian Empire, it is tradition to give a child sixteen drakes on their sixteenth birthday. This money is supposed to help them begin their adult life, and purchase any tools required for their trade.

by Annie Stein

Value	1 gp
Mass	0.02 lbs or 9 grams
Composition	Fine Draconic Gold
Years of Minting	665 WE - present

Silver Sun

The Silver Sun was first introduced in 648 WE and was the standard unit until 665 WE. It was introduced as a replacement for segmented bullion coins, then colloquially known as pieces. It is named after the metal it is minted with, and the design on the reverse of the coin, which depicts a sun. The obverse of the coin varies depending on the mint.

by Annie Stein

Value	1/10th of a gp
Mass	0.02 lbs or 9 grams
Composition	Fine Draconic Silver
Years of Minting	648 WE - 654 WE, 664 WE - present

Copper Cent

The Copper Cent was first introduced in 665 WE alongside the shift from a silver standard to a gold standard. Prior to that it was known as a Copper Dime. The design of the cents varies significantly from region to region, and it is frequently mixed with other low-denominational coinage.

by Annie Stein

Value	1/100th of a gp
Mass	0.02 lbs or 9 grams
Composition	Copper
Years of Minting	648 WE - 654 WE, 664 WE - 665 WE, 665 WE - present

Controversy

The popular coinage has not been without controversy. The draconic nature of the coins raises many concerns. As it is well known that the power of a dragon is to some degree related to the size and value of their hoard, skeptics question whether it is responsible to introduce so much value into a single hoard.
Some of the more paranoid observers note that having so much of the world's economy controlled by a single entity is a far more pressing concern. The Gilded Hoard could cause chaos if they were to suddenly withdraw services from one area, or even confiscate funds from a particular client. For this reason, some wealthier clients of the Gilded Hoard also maintain a separate, physical stockpile of gold coins and bullion as a contingency.