As the peoples of Middle-earth vary in culture, size, and appearance, so do their coins. This core rulebook presents a selected few different coinage systems of North-western Middle-earth. But whenever the PCs venture into a region with a currency of its own that is not covered in this book, the Turambar should make up its unique monetary system and give some thought to the issue of possible exchange rates. In most cases, foreign money will only be exchanged for its material value. Hence, the exchange rates given in Table 6.1 are based on the weight of the various coins. Keep in mind, though, that per cent money changers will charge a fee of at least ten to thirty, and often up to one hundred per cent.
NOTE: By ancient custom, most peoples of North-western
Middle-earth divide one pound into 12 ounces. Each ounce is further broken up into 20 pennyweights. Based on the latter weight unit, it is a frequent practice in many areas to mint 240 pence from one pound of metal (usually silver and cop- per), though coins of other sizes are also quite common. For example, the Dúnadan realms issue coins at four pennyweights each which can easily be cut into quarters at need.
D
ÚNADANC
OINSFollowing the traditional Númenórean coinage system, the mints of Annúminas and Osgiliath (which were later moved to Fornost Erain and Minas Tirith, respectively) have issued standard coins in gold, silver, and copper, and Gondor does still. As stated above, these four-pennyweight coins are often cut into quarters. Only the mint of the Princely House of Dol Amroth regularly stamps one-pennyweight coins of silver and gold. For convenience, Ambarquenta addresses the- se smaller coins and any cut quarters as pennies, while the larger and uncut coins are called pieces.
The coins of least value commonly found in Gondor and Eriador are the copper piece (CP) and its cut quarter, the cop-
per penny (cp). These pennies are used for minor purchases
and, sometimes, as at Bilbo’s party, given to children as a pre- sent. In Gondor, the copper piece is called peret, while benhar is the common name of the copper penny.
For greater purchases, people use small silver coins usual- ly called silver pennies (sp), although different regions will have their own names for these, such as tharni in Gondor. A silver penny equals twelve copper pieces (or forty-eight cop- per pennies) by the reckoning of the Dúnedain. Silver pen- nies are the cut quarters of the larger silver piece (SP), the
castar of Gondor. A silver piece is a not inconsiderable
amount of money, enough to purchase a pony in most rural areas.
For even greater purchases, wealthy folk may use gold
pieces (GP) or gold pennies (gp), but these precious coins are
not in common circulation. In Gondor, they are called
harancor and erin, respectively. One gold penny equals four
silver pieces, and four gold pennies make a gold piece.
NOTE: All prices in the below equipment lists are given in
Dúnadan coins. For simplicity’s sake, the Starting Wealth of the different peoples is also given in this ‘standard’ currency, even though characters would of course need to purchase (or barter for) their starting gear with their respective people’s own money.
Any spare money must be recorded in the culturally most appropriate denomination. Alternatively, you could acquire some additional items to trade later during the game.
C
C
OINS OF THED
WARVESSimilarly to the one-to-four exchange rate applying to most denominations of Gondor, each Dwarven coin is worth seven of the next smaller ones. But while the Númenóreans of yore introduced the one-to-four relation for practical rea- sons, the Dwarves use it to revere the Fathers of their Seven Houses.
Most strongholds of the Dwarves produce five coins and base their exchange system upon a gold standard (rather than the usual silver standard of Men). A peculiar disparity in metal content and weight allows to maintain the one-to- seven exchange rate. The seven-pennyweight gold mazuldar (Kh. ‘Gold-issue’) equals seven ziguldar (Kh. ‘Silvery-issue’) of the same weight. Though the ziguldar appears to be just a larger type of silver coin, it actually contains a small propor- tion of gold (7.7% , to be precise).
Only the two-pennyweight kibildar (Kh. ‘Silver-issue’) are minted of pure silver. Seven kibildar make up the value of
one ziguldar, while one kibildar can be exchanged for seven
ghuladar (Kh. ‘Bronze-issue’), each cast of a seven-penny-
weight portion of a copper, tin, and silver alloy. In turn, one ghuladar equals seven copper ghaladar (Kh. ‘Coppery-issue’). The ghaladar is the smallest coin of the Dwarves and equals in weight and value about two Gondorian copper pennies.
Note that when the mazuldar and the ziguldar are ex- changed for coins of other peoples, their material value is a little higher than it is for the Dwarves themselves, because the Khazad hoard such vast amounts of gold.
Besides the standard coins described above, the Dwarves of the Blue Mountains also mint silver and copper pieces to conduct their trade with the folk of Eriador. In weight and value, these coins equal the Arnorian and Arthedainian mon- ey of old and can be cut into quarters. This way, the Dwarves helped to keep up commerce in Bree and other parts of the northlands long after the defeat of Arvedui Last-king.
TABLE 6.1:COINS AND EXCHANGE RATES
DÚNADAN COINS
COIN COIN WEIGHT cp CP sp SP gp GP
Copper Penny (cp) 1 pw. or 1/240 lbs. 1 1/4 1/48 1/192 1/768 1/3,072 Copper Piece (CP) 4 pws. or 1/60 lbs. 4 1 1/12 1/48 1/192 1/768 Silver Penny (sp) 1 pw. or 1/240 lbs. 48 12 1 1/4 1/16 1/64 Silver Piece (SP) 4 pws. or 1/60 lbs. 192 48 4 1 1/4 1/16 Gold Penny (gp) 1 pw. or 1/240 lbs. 768 192 16 4 1 1/4 Gold Piece (GP) 4 pws. or 1/60 lbs. 3,072 768 64 16 4 1 Conversion Rate: 1 GP = 4 gp; 1 gp = 4 SP; 1 SP = 4 sp; 1 sp = 12 CP; 1 CP = 4 cp.
COINS OF THE DWARVES
DÚNADAN
COIN COIN WEIGHT gha ghu kib zig maz COINAGE
Ghaladar (gha) 2 pws. or 1/120 lbs. 1 1/7 1/49 1/343 1/2,401 2 cp
Ghuladar (ghu) 7 pws. or 1/34.3 lbs. 7 1 1/7 1/49 1/343 3 CP, 2 cp
Kibildar (kib) 2 pws. or 1/120 lbs. 49 7 1 1/7 1/49 2 sp
Ziguldar (zig) 7 pws. or 1/34.3 lbs. 343 49 7 1 1/7 3 SP, 3 sp*
Mazuldar (maz) 7 pws. or 1/34.3 lbs. 2,401 343 49 7 1 1 GP, 3 sp
Conversion Rate: 1 maz = 7 zig; 1 zig = 7 kib; 1 kib = 7 ghu; 1 ghu = 7 gha.
*: If the ziguldar is exchanged for the currency of a people that does not recognize its gold content, it is only worth 1 SP, 3 sp apiece.
COINS OF ESGAROTH AND DALE
DÚNADAN
COIN COIN WEIGHT hma ma hmi mi COINAGE
Haelfamael (hma) 1 pw. or 1/240 lbs. 1 1/2 1/100 1/200 1 cp
Mael (ma) 2 pws. or 1/120 lbs. 2 1 1/50 1/100 2 cp
Haelfamietan (hmi) 2 pws. or 1/120 lbs. 100 50 1 1/2 2 sp
Mietan (mi) 4 pws. or 1/60 lbs. 200 100 2 1 1 SP
Conversion Rate: 1 mi (= 2 hmi) = 100 ma (= 200 hma); 1 mi = 2 hmi; 1 hmi = 50 ma; 1 ma = 2 hma.
COINS OF DORWINION
DÚNADAN
COIN COIN WEIGHT Qc Cp Sp Ky Gp COINAGE
Quartercopper (Qc) 1.25 pws. or 1/192 lbs. 1 1/4 1/200 1/400 1/4,000 1.25 cp
Copper piece (Cp) 5 pws. or 1/48 lbs.. 4 1 1/50 1/100 1/1,000 1 CP, 1 cp
Silver piece (Sp) 5 pws. or 1/48 lbs. 200 50 1 1/2 1/20 1 SP, 1 sp
Kysûri (Ky) 5 pws. or 1/48 lbs. 400 100 2 1 1/10 N/A
Gold piece (Gp) 5 pws. or 1/48 lbs. 4,000 1,000 20 10 1 1 GP, 1 gp
E
SGAROTH ANDD
ALETrade has always been the very essence of Esgaroth’s ex- istence. Although barter remains the norm in northern Rho- vanion, the high quality silver coins of Esgaroth, the mietan, were soon considered to be the standard throughout the towns and hamlets between the eastern rims of Mirkwood and the western shores of the Inland Sea of Rhûn. Weighing roughly four pennyweights, the mietan is equivalent to the silver pieces minted in Arthedain, Gondor, and Dorwinion.
Following the death of Smaug, King Bard rallied the towns of the area under his banner and transferred the mint to Dale. Yet, the old currency of Dale which had been issued before the Coming of the Dragon was now abandoned in fa- vour of Lake-towns coinage. Dale’s Maela (No. ‘Coiner’) also occasionally mints a smaller two pennyweights copper piece, the mael, but—as it is the case with the mietan—only at the specific request of the King and then always in strictly lim- ited quantities. One mietan is worth one hundred mael.
Both the mietan and the mael are often cut in half to pro- vide smaller denominations, and both the haelfamietan and the haelfamael are accepted wherever the full-sized coins are. As in Eriador and Gondor, this presents some danger be- cause it is easier for unscrupulous types to ‘clip’ these halved Northron currencies (usually the higher valued mietan). Hence it is a common practice for Bardings involved in a transaction to rub their fingers along the edge of a coin in or- der to feel for tell-tale burrs that might indicate a recent trimming and then to gently bite the coin to test its solidity (and therefore its purity). These are normal precautions ex- ercised almost without exception among the wily merchants operating upon the wharfs of Lake-town and the squares of Dale, where many of the shops and stalls peddling wares are located. Even on market days during the coldest months most merchants wear fingerless gloves or mittens while at their stalls to allow them to check the currency they receive.
D
ORWINIONThe mints and ivory-cutting workshops of Szrel-kain, the cultural and commercial centre of Folyavuld (or, by its better known Sindarin name, Dorwinion), issue only one- quarter-ounce standard coins of gold, ivory, silver, and cop- per. By common practice, copper pieces are cut into quarters to form smaller change.
Due to Dorwinion’s relative shortage of gold, one gold piece equals twenty silver pieces or ten ivory Kysûri. Conse- quently, the smart Folyavuldan businessmen avoid to pay foreigners with gold, but they accept it more than happily from their far away customers. But even in domestic trade, the ivory, silver, and copper denominations (the latter two are exchanged on a 1-to-50 basis) are predominant.
R
OHANNot before the reign of Aldor the Old (T.A. 2570– 2645), the third King of the Mark, did Rohan begin to mint its own coins on a regular basis. In the days of Eorl the Young and his son Brego, Gondorian currency was used and
the original Rohirric silver penings were only issued to com- memorate victories and crown-events.
Imbued with the Running Horse of Rohan on the ob- serve and the ruling king’s name in Certar on the reverse, the one-pennyweight penings have now become an appreciated currency, although the Rohirrim still prefer goods to money unless they plan to travel. One pening equals the value of one silver penny of Dúnadan mint. For smaller purchases, Gon- dorian copper pieces and pennies are readily accepted in most places, though often at a disadvantageous exchange rate.
On rare occasions (and then mostly for commemorative purposes), Edoras also issues the twelve-pennyweight silver
scylling (equalling twelve penings or three Gondorian SP) and
the gold mark. The name ‘mark’ derives from an ancient Éothraim weight unit measuring three fifths of a pound. As twelve scyllings or 144 penings of silver would make up one mark, the gold mark weighs approximately nine penny- weights and thus equals nine Gondorian gold pennies.
E
LVENC
OINSIn the late Third Age, the Elves of Middle-earth rarely exchange goods with other peoples, and if they do, they pre- fer to barter. The Wood-elves of Mirkwood, for example, supply wood and other bounties of the forest to the mer- chants of Esgaroth in return for the fine wine of Dorwinion and other trade goods they long for.
At the height of their glory, however, the Noldorin mas- tersmiths of Beleriand and Ost-in-Edhil minted a famed sil- ver coin, the mirian. As the mirian was often cut into quar- ters or canath, it seems quite likely that the Númenóreans adopted their coinage customs from the Noldor. Greater purchases were paid for with gold ingots, jewellery, or finely crafted items.