Magical money amounts?

olah · Posted: Mon Jul 21, 2008 3:26 am Post subject: Magical money amounts?

I don't know if someone else has already covered this in another forum or post but....

How much is a galeon worth?
I know there are 17 sickles to galleon, like it says in the books, but how much is it actually worth in pounds?

xxxxxx

Jibran · Posted: Mon Jul 21, 2008 9:37 am Post subject: Cost of Wizard Galleons in Pounds

Hi Olah and Welcome to PottersRealm

to PottersRealm!

Throughout the books there is no clearcut mention of how much the Goblins pay when you convert Galleons to Muggle money. It is my guess that the rates would depend on the current price of gold.

cadders · Posted: Sun Aug 03, 2008 5:50 pm Post subject:

yes i believe that would be the case, it would be much like the current exchange rates you get for foreign money, though i suppose in the case of the wizarding money it would be based on the scrap value of the metal the coins are made from, gold, silver and bronze. i wonder why they dont have notes in the wizarding world?

Jibran · Posted: Mon Aug 04, 2008 3:09 pm Post subject:

cadders wrote:

yes i believe that would be the case, it would be much like the current exchange rates you get for foreign money, though i suppose in the case of the wizarding money it would be based on the scrap value of the metal the coins are made from, gold, silver and bronze. i wonder why they dont have notes in the wizarding world?

[marq=down]

As long as Jo does not clarify this, we can keep guessing. But yes, I believe it would have been easier if the Wizarding community would have opted for paper money. But then on the other hand, the Goblins set a store by Gold. They wouldn't be willing to opt for paper currency.

cadders · Posted: Mon Aug 04, 2008 5:05 pm Post subject:

yes i suppose so, but the bank was only put into goblin care in around the 1500's i believe, if the WOMBATS are anything to go by. so the idea for the currency would have been a wizard's. i suppose they still hold the value with the coin itself, whereas paper money is just a note to promise the barer that amount, i dont think promises mean as much to goblins, as displayed by griphook in DH

Jibran · Posted: Tue Sep 30, 2008 10:07 am Post subject:

Hmm, to Goblins the rights of ownership belong to those who initially created the item, and not to those who bought it. So I must think that if Gringotts was handed over to Goblins in the 1500s then they must still be running with the idea of money as propounded by the original creators of Gringotts Bank. I dont think it has been mentioned in the books anywhere by whom Gringotts was initially conceptualised?