Edmondo's Players Handbook
A Look at the Barter Economy and Looting
or
Why I don't want to by Ale with Gold
By Edmondo Scholz
For Chris and Felicity
Unlike many other campaign worlds which are akin to the 14 century proto-Renaissance, the fifth century common year in the World of Greyhawk is for much of the in-play world akin to the 8th century Dark Ages. In some ways it is more akin to the 5th century since the Great Kingdom has yet to hit bottom but is falling and breaking up. Rauxes still exists as a world empire of laws and order but like the historical reality has made Over Kings and power made rulers.
Economically coinage is not universally accepted as a means of exchange. Outside of a few large towns and cities, coins have value for their metal but are not even a barter or trade good. At best using gold and silver are like using U.S.A. hundred dollar bills as currency in Canada or Europe. No one doubts the real currency as having value, but their are many doubts as to why you asking a merchant to accept a USA $100 bill (if it is even real) for a muffin. At worst, it is like bringing in your X-box to buy the same muffin. Again, while no one doubts the X-box value only a few would be willing to gamble on such a trade since it is so odd and inconvenient (and might be illegal - why are you trading an X-box or Rollex watch for a cup of coffee?)
In the middle ages this is a result in part of the real problem of being feed. With the break down of law and order, long distance food networks have vanished. Large cities, which only a hundred of years ago where powerful jewels of commerce can not supply enough food to feed their people. If that which is grown locally is not available their is no certainty that a grain shipment will not be taken by pirates or monsters. For most the first priority is to be well feed, and have enough food for a few winters (via grain and preserved food) or be connected to a powerful group that can bring in food to their area if necessary.
Of course certain groups deal with such currency and accept it. In the modern world they would be drug dealers and your local fence or more legitimately the money changer, banker and second hand store. Likewise, limited groups do accept money in the WOG -money changers, gold and silver merchants and the rest, but even among high end artisans they often prefer goods, services and animals so they know they have real value, but then in the bigger cities like Greyhawk they only want coin. However a village blacksmith will often be more impressed with a wagon of iron ready to smith and a cask of fine wine than a bag of silver and copper coins. The silver and copper are worth more, perhaps many months pay - but all the blacksmith will likely purchase is a year supply of iron - and a wagon of iron saves him time and effort- in fact he might go without a whole season without fresh raw materials (and will depend on recycling of sorts.) Additionally, after it gets it in his shop no one will steal raw iron a they would a box of gold coins. With no banks one wants to convert their wealth into harder to steal goods (and if possible property - though property rarely can be bought.) If they are far enough from the bigger cities the coins drop in value to zero quickly and are mere jewelry and magical fetish items. The reverse is true as well, assuming they have a mix of both goods and coin, coin is appreciated for its storage value. If a big city is near by wine can be bought. But in a small village they may never have access to outside goods at all, so the coin is of little value as it can buy nothing - but the goods represent real wealth.
It will be much more common to a farmer to trade eggs for bread, or farmers tools for an ox. Even inn's will expect some barter; a bard's song, fresh game for the fire or rare oils. Though inns, more accustomed to travelers do often accept currency - buying and selling to traveling merchants in some case, or at the least sending agents to local fairs to stock their inn. But again, an inn in the middle of a isolated area will appreciate goods that they desire but can not easily attain - much like Communist Russia - a pair of blue jeans is worth far more than cash - even American cash - as it is a real good that avoids risking the market and all that entails - in the middle ages bandits, the lords unjust taxation of coin and the dangerous travel time to and from market.
As such any coin purchase of small goods tend to be over priced by far. To be worth to take pure coin over goods the price must be high. Gold and silver are hard to fake, and are good stores of value. Copper is generally much less than breaking up a copper plate and making into copper slugs, so only if the copper is large by mass or in very stable kingdoms (or isolated regional economies) will copper be valued. Of course if the source is unknown the question is asked: "is this gold stolen and will I risk my life dealing with this person?" Murders and theives will typically say they killed a dragon or giant to get the gold - and this fiction is polity accepted by many - as long as the "dragon" was far enough away.
Of course, in Fringe cultures, the Barbarians, orcs and elves different values change this. Barbarians and orcs have not issue with raiding others for gold and silver so trade in this metals is more open and carefree. However both this cultures see metal not a currency but some religious obligation to have and hold. A gold ring is worth far more than a gold coin. Still, trade of coin is easy and simple if dangerous.
Of course each area is different. Near cities taxation is in coin and not goods, far away from cities coin is distrusted and taxation and trades are done by goods and services. Many times no trading is even possible and all "trading" is done by gifts. For example, in some areas inns are free, but one is expected to leave gifts of salt, sugar, honey and other "travelers" goods that are rare and hard to find. Certainly knights do not work for money at all, but for the right to use his lords land for growing crops and graving live stock. Nobles in fact are extremely money poor in general having almost no gold or silver to share - but often having many men owing "favours" and owning large tracks of land.
Historically this money poverty became a real issue as goods became more market driven and lords where excluded from the economy - often leading to war and pillaging, as young nobles could not make their way in the world - the source of many bandits.
A Look at the Barter Economy and Looting
or
Why I don't want to by Ale with Gold
By Edmondo Scholz
For Chris and Felicity
Unlike many other campaign worlds which are akin to the 14 century proto-Renaissance, the fifth century common year in the World of Greyhawk is for much of the in-play world akin to the 8th century Dark Ages. In some ways it is more akin to the 5th century since the Great Kingdom has yet to hit bottom but is falling and breaking up. Rauxes still exists as a world empire of laws and order but like the historical reality has made Over Kings and power made rulers.
Economically coinage is not universally accepted as a means of exchange. Outside of a few large towns and cities, coins have value for their metal but are not even a barter or trade good. At best using gold and silver are like using U.S.A. hundred dollar bills as currency in Canada or Europe. No one doubts the real currency as having value, but their are many doubts as to why you asking a merchant to accept a USA $100 bill (if it is even real) for a muffin. At worst, it is like bringing in your X-box to buy the same muffin. Again, while no one doubts the X-box value only a few would be willing to gamble on such a trade since it is so odd and inconvenient (and might be illegal - why are you trading an X-box or Rollex watch for a cup of coffee?)
In the middle ages this is a result in part of the real problem of being feed. With the break down of law and order, long distance food networks have vanished. Large cities, which only a hundred of years ago where powerful jewels of commerce can not supply enough food to feed their people. If that which is grown locally is not available their is no certainty that a grain shipment will not be taken by pirates or monsters. For most the first priority is to be well feed, and have enough food for a few winters (via grain and preserved food) or be connected to a powerful group that can bring in food to their area if necessary.
Of course certain groups deal with such currency and accept it. In the modern world they would be drug dealers and your local fence or more legitimately the money changer, banker and second hand store. Likewise, limited groups do accept money in the WOG -money changers, gold and silver merchants and the rest, but even among high end artisans they often prefer goods, services and animals so they know they have real value, but then in the bigger cities like Greyhawk they only want coin. However a village blacksmith will often be more impressed with a wagon of iron ready to smith and a cask of fine wine than a bag of silver and copper coins. The silver and copper are worth more, perhaps many months pay - but all the blacksmith will likely purchase is a year supply of iron - and a wagon of iron saves him time and effort- in fact he might go without a whole season without fresh raw materials (and will depend on recycling of sorts.) Additionally, after it gets it in his shop no one will steal raw iron a they would a box of gold coins. With no banks one wants to convert their wealth into harder to steal goods (and if possible property - though property rarely can be bought.) If they are far enough from the bigger cities the coins drop in value to zero quickly and are mere jewelry and magical fetish items. The reverse is true as well, assuming they have a mix of both goods and coin, coin is appreciated for its storage value. If a big city is near by wine can be bought. But in a small village they may never have access to outside goods at all, so the coin is of little value as it can buy nothing - but the goods represent real wealth.
It will be much more common to a farmer to trade eggs for bread, or farmers tools for an ox. Even inn's will expect some barter; a bard's song, fresh game for the fire or rare oils. Though inns, more accustomed to travelers do often accept currency - buying and selling to traveling merchants in some case, or at the least sending agents to local fairs to stock their inn. But again, an inn in the middle of a isolated area will appreciate goods that they desire but can not easily attain - much like Communist Russia - a pair of blue jeans is worth far more than cash - even American cash - as it is a real good that avoids risking the market and all that entails - in the middle ages bandits, the lords unjust taxation of coin and the dangerous travel time to and from market.
As such any coin purchase of small goods tend to be over priced by far. To be worth to take pure coin over goods the price must be high. Gold and silver are hard to fake, and are good stores of value. Copper is generally much less than breaking up a copper plate and making into copper slugs, so only if the copper is large by mass or in very stable kingdoms (or isolated regional economies) will copper be valued. Of course if the source is unknown the question is asked: "is this gold stolen and will I risk my life dealing with this person?" Murders and theives will typically say they killed a dragon or giant to get the gold - and this fiction is polity accepted by many - as long as the "dragon" was far enough away.
Of course, in Fringe cultures, the Barbarians, orcs and elves different values change this. Barbarians and orcs have not issue with raiding others for gold and silver so trade in this metals is more open and carefree. However both this cultures see metal not a currency but some religious obligation to have and hold. A gold ring is worth far more than a gold coin. Still, trade of coin is easy and simple if dangerous.
Of course each area is different. Near cities taxation is in coin and not goods, far away from cities coin is distrusted and taxation and trades are done by goods and services. Many times no trading is even possible and all "trading" is done by gifts. For example, in some areas inns are free, but one is expected to leave gifts of salt, sugar, honey and other "travelers" goods that are rare and hard to find. Certainly knights do not work for money at all, but for the right to use his lords land for growing crops and graving live stock. Nobles in fact are extremely money poor in general having almost no gold or silver to share - but often having many men owing "favours" and owning large tracks of land.
Historically this money poverty became a real issue as goods became more market driven and lords where excluded from the economy - often leading to war and pillaging, as young nobles could not make their way in the world - the source of many bandits.
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