A 3 tiered coin economy

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Siren
Darkonian
Posts: 36
Joined: 2012-01-16

A 3 tiered coin economy

Post by Siren » 2013-03-30

Proposal to add a new Tier of currency

Everyone is aware of the issues we currently have with how quickly coin goes out and subsequently disappears into the realm. What I’d like to see is a new tier of currency added to our economy.

Currently in play we have silver, gold and province marks. Although copper and Merc marks exist somewhere, they’re not regularly in play anymore. We have an extremely large amount of gold, followed by a smattering of silver-which few people use-and province marks which are quickly becoming coveted.

The inflation of our economy has made silver almost useless. If we had a 100 Gold piece-as an example, I’m going to call them Chaos Marks- we have a fully functioning 3 tier economy. The coin marshal could use a single order of 'chaos marks' to last several years by slowly introducing the coins so they never outnumber the lower 2 tiers of coin.

With the 3 used tiers of money being gold, province marks, and chaos marks we can begin to address the inflation of the economy and how players hoard gold. Province marks have been being introduced slowly over the last several years to a point where they are in play on a regular basis, we would do the same to a smaller extent with chaos marks.

Players won’t be as incited to hoard gold, when they have two higher denomination of coin to trade out for. This means there is a constant in and out flow of coin to the coin bag ensuring that we never run out of coin. Which we have come dangerously close to several times in the last 2 years.

By adding new tiers of money to economy, we also slow down how quickly we use the coin that has been ordered in the past. When Province Marks were reintroduced the amount of gold going out dropped by roughly a quarter.

While we already have silver as a tier on the economy, it is no longer useful. As mentioned previously, few people use it and it is almost rare to be found in play. It is not feasibly possible to mint enough silver to make gold rare again, so instead we should move on to gold being the effective bottom of our economy.

This would mean we on a regular basis used gold (1), province marks (50) and 'chaos marks' (100).
~Siren

Az'Sirenythe Azuviir Kreatondaughter
Warrior of Ched Nasad
Leader of the Myrmidon Entertainment Guild
Sailing Master of the CNS. IHM. Eastern Pride
Way too many other titles to list here...

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Lord Dubh
Knight of the Realm
Posts: 718
Joined: 2012-01-06
Location: Tarimstadt

Re: A 3 tiered coin economy

Post by Lord Dubh » 2013-03-30

while this will get money back into the bag, it won't solve the problem. Making larger denomination coins results in inflation.

We really need to focus on a low value monetary system. We still need silver because we need to be able to make change for potions, poisons and scroll making. Gold is pretty much the actual standard we have, so the next tier of anything produced and paid for by the club should be worth 5 gold.

The Province Piece was introduced as a symbol of wealth by Mordom. it is called Province Piece to reflect its value of 500 silver.

This is the quote for GOLD coins last year:
1.125" Anodized GOLD aluminum.
1,000 $0.74 each
2,500 $0.37 eaach
5,000 $0.285 each

Silver will be cheaper because it is not colored and the 5 Gold Piece would be more as I would expect it to be a bit larger than the 1 Gold Piece.

For denominations other than Silver, 1 Gold and 5 Gold we would continue to rely on a country.

John M
Sir Bendore Dubh of Dai-Dagan, CR, KR, OG, OR, CB, CC
Master Thief of Darkon


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Lord Cailen Sendor
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Re: A 3 tiered coin economy

Post by Lord Cailen Sendor » 2013-04-01

ROFL just noticed me and Siren both had simalar ideas...

I think the higher coin would work only if the only way you could get that coin was to hand the coin marshal real gold from your stash to get it ... no pulling out lower funds then next event turning them back in for the larger coin value it would have to be coins that have been aol not from a country on paper amount
++ Respect those above your station and train others under you to surpass your achievements - while you treat others with the respect you expect to receive in return! ++

Siren
Darkonian
Posts: 36
Joined: 2012-01-16

Re: A 3 tiered coin economy

Post by Siren » 2013-04-01

I was already planning to introduce it slowly, were this to be cosigned and go to senate. I'd be fine with only allowing it to go out in exchange for smaller amounts. With a new type of coin we could definitely limit and control how much went into circulation at a time, much in the same way that province marks have been slowly introduced over the last year or two.

I think over time, perhaps 2 years after entering circulation we should allow the coin to go out on paper writs or without 100 gold coming back into the bag. Again, it would be easy enough to limit how many could be given out and under what circumstance. I already do this with gold and province marks to control how coin is circulated.
~Siren

Az'Sirenythe Azuviir Kreatondaughter
Warrior of Ched Nasad
Leader of the Myrmidon Entertainment Guild
Sailing Master of the CNS. IHM. Eastern Pride
Way too many other titles to list here...

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Lord Dubh
Knight of the Realm
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Joined: 2012-01-06
Location: Tarimstadt

Re: A 3 tiered coin economy

Post by Lord Dubh » 2013-04-01

We should only ever use coins minted by the club (or a group within the club per the rules).

Make paper money and I can promise you that no one would ever need to see a marshal for currency again.
Sir Bendore Dubh of Dai-Dagan, CR, KR, OG, OR, CB, CC
Master Thief of Darkon


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Tsukebe
Posts: 31
Joined: 2013-01-20

Re: A 3 tiered coin economy

Post by Tsukebe » 2013-04-02

I still think that a larger portion of our dues should go directly into the printing of more coins.

With the new rules on king, crown rules and nobility we should have more, and more different types, of currency floating about.

With our hike in dues and the last posted quarter showing over a 4 grand in surplus income (almost 7 grand for the year) we should be able to see a definite improvement in game provided materials and props.
http://darkon.org/financial/2012%20Quar ... ements.pdf

The hard currency of the realm will always slowly leak away due to lost coins in the woods, players who no longer attend and personal OOC losses (like losing your chest while moving, or having your house burn down, of your fiancée using them as bridal shower gifts) - Darkon needs to man up and realize that we need a regular supply of coin and props to keep the game functioning.

8 years ago when I started most of the players who regularly came out all had coin they had accrued over the years, and it was more frequently in play. Today only a fraction of those players still attend regularly.
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