How To Make Currency Work

[Phalacrox]

Does coin quality really matter? I guess it does if it somehow assures you that the currency won't be illegally copied.

Anyways, I hate to be captain obvious , but:

Money is an assurance that you will be able to exchange the worthless crap(coins in this case) that guy gave you for your bronze helm, for some high quality FEP food.

Such 'worthless crap' is completely unneeded in one village(unless it is absolutely huge)

[DatOneGuy]

Coin quality 'can' matter.

You 'can' set currency to "Copper coins q90+" and make q90 copper just for circulation.

Most people go with "Copper Coins q10+" though from what I've noticed.

[ThirdEmperor]

Coins shodn't have QL. End of story.

Ore doesn't have QL, and you forge it into nuggets then bars the same way you forge coins. As this would allow small villages to make coins that were actually usefull to higher level players, trade would pick up.

[DatOneGuy]

Coins shodn't have QL. End of story.

Ore doesn't have QL, and you forge it into nuggets then bars the same way you forge coins. As this would allow small villages to make coins that were actually usefull to higher level players, trade would pick up.

The only use for coin is what it represents in metal.

Without quality it represents nothing.

Coins would need to not simply 'represent' something but have a way to get a use out of it that's good. Being able to turn into nuggets/bars gives this use.

A two-way trading system alone would help very much.

[Brickbreaker]

Coins must also have a function that everyone needs as well.
If the only use for coins is for nuggets and bars then it is just another resource not a currency, and some people simply don't need nuggets or bars.

Therefore I repeat that coins need an ingame function that EVERYONE will use almost constantly.
I suggest something like coins being necessary for village upkeep and claim extending.

[DatOneGuy]

Coins must also have a function that everyone needs as well.
If the only use for coins is for nuggets and bars then it is just another resource not a currency, and some people simply don't need nuggets or bars.

Therefore I repeat that coins need an ingame function that EVERYONE will use almost constantly.
I suggest something like coins being necessary for village upkeep and claim extending.

Being able to trade both ways using COINS only allows people to pretty much setup their own conversions using coins.

If you want to make it work for claim extending sell q1 soldier's swords (or buy them, whatever), and linen cloth.
Upkeep? Pay for services in coins.

[katchemash]

I disagree. The Central Asian Kingdoms will not go for a unifed currency, because we choose not to participate in any sort of thing which places us lower than the rest. We will go for bartering/our own curreny and thats mostly how our economy will work. I suggest that the coinage be based on the metal that it is made is ala like olden medieval times.

[DatOneGuy]

I disagree. The Central Asian Kingdoms will not go for a unifed currency, because we choose not to participate in any sort of thing which places us lower than the rest. We will go for bartering/our own curreny and thats mostly how our economy will work. I suggest that the coinage be based on the metal that it is made is ala like olden medieval times.

Then go make gold coins or q90+ copper coins or something no one will care to bother with.

[Yolan]

Use of coins at World's End is starting to pick up now that more and more people are establishing stalls. I think we have about 10-15 in our plaza now.

We don't try to 'set' how much a coin is worth. One coin is one coin. Not 5 WE dollars, or something.

Typically speaking out coins are q30+, and most stalls I think have geared their prices appropriately.

So, how much value does a coin have at WE? Well, its hard to say. It really relates to how much faith people have that in being able to exchange it for x amount of goods. Right now 10c can probably buy you a few bits of butter, or a bit of bread. In a week from now, who knows. The more coins there are floating around per active player/producer, the less value they will be perceived as having, I suppose.

Really its just a trade substitute, so it doesn't matter if we have say, daily inflation or deflation at rates that would destroy a real life economy. Nobody is losing their life savings, and fortunes can be made in a relatively short time in a game, compared to IRL.

[Potjeh]

You will buy our poppies and you will like it, mister