The world bank is maintained and operated by the god of commerce. Balances are shown in the characters Mind’s Eye. Only the character can see how much is in their account.
If you have coins or want coins that are not in the world bank you must go to a world bank location to exchange. They charge a fee for the transaction and will ask questions. The fee is normally around 1% rounded up to the nearest copper.
Note: coins are heavy… Most NPCs will tell you It is wise to have some coins on hand. Just not a lot because then you will become a target.
Coins have weight until they are put in Extradimensional Storage. When this happens, the coins lose all weight and do not count against the total weight allowed in Extradimensional Storage.
When you open a new account with the world bank, they give you 100 gold for your first deposit.
They also give you the choice of one of the following magical items:
- Blender.
- Clock.
- Toaster.
They also give you a calendar for the current year.
They give you a new calendar each year if you have deposited more than 1000 gold or the value thereof in the last year.
Note: the avatar may focus on one of the items above to perform its desired magical function.
The world bank charges 1% for every transaction. This is paid by the account holder.
Precious Metal Coin Values:
- 10 Copper = 1 Silver or 2 Nickel.
- 2 Nickel = 1 Silver.
- 10 Silver = 1 Gold or 2 Electrum.
- 2 Electrum = 1 Gold.
- 10 Gold = 1 Platinum.
- 10 Platinum = 1 Rhodium.
Many of the Island Nations, Large Cities, and other groups mint their own coins. They may name their coins differently, but they all use the same weight for each precious metal. Minting their own coins is a practice many island nations, large cities, and various groups engage in for several important reasons:
- Sovereignty and Identity: For many entities, issuing their own currency is a symbol of sovereignty and autonomy. It serves as a declaration of independence and control over their economic systems. Coins often feature designs that reflect the cultural identity, heritage, and values of the place or group they represent, helping to foster a sense of pride and unity among the populace.
- Economic Control: By minting their own coins, authorities can have direct control over the monetary policy, including the supply of money within their economy. This control allows them to address local economic issues, such as inflation or deflation, more effectively. They can adjust the amount of money in circulation to meet economic needs, influencing employment, consumption, and investment within their territories.
- Legal Tender: Creating their own coins ensures that the issuers can establish what is accepted as legal tender within their jurisdictions. This control aids in managing transactions and stabilizing their economy, as the coins are tailored to the economic environment and needs of the region. It also simplifies tax collection and the administration of public expenditures.
- Profit from Seigniorage: Seigniorage is the profit made from issuing currency, particularly when the face value of the coin is higher than the cost of its production. By minting their own coins, nations and cities can earn revenue from the circulation of these coins. This profit can be significant, especially if the currency is widely used and trusted.
- Counteract Counterfeiting: Producing unique coins with specific designs and security features makes it harder for counterfeiters to duplicate. This is critical for maintaining the integrity of the currency and ensuring that the economy operates smoothly without the disruption that widespread counterfeiting could cause.
- International Trade and Tourism: For island nations and prominent cities with significant tourist influxes, having distinct, recognizable currency can be a tool for promoting international trade and tourism. Tourists often bring home foreign coins as souvenirs, which can also serve as a form of advertisement and allure for potential visitors.
- Customization for Local Needs: Local minting allows for customization of currency to address specific local needs. For example, smaller denominations might be more prevalent in a local currency if the economy primarily revolves around small transactions.
Minting their own coins allows entities to reinforce their independence, customize their economic policies, enhance security, and potentially profit from the currency they issue. This practice plays a crucial role in the economic and symbolic landscape of nations and cities.
Explanation of Non-Metal Coinage
- Definition and Nature:
- Non-metal coinage consists of coins made from materials other than the standard precious metals, such as base metals, alloys, or even non-metallic substances like clay, wood, or magically infused materials.
- Despite the different materials, these coins are standardized by weight to align with the precious metal coin values (e.g., a non-metal coin equivalent to 1 silver must weigh the same as a standard silver coin).
- These coins are often unique to specific regions, reflecting local culture, history, or resources, and may feature distinct designs or names (e.g., a city might mint “Drake Tokens” instead of silver coins).
- Purpose and Use:
- Sovereignty and Identity: Non-metal coins serve as symbols of local pride and autonomy. For example, an island nation might mint coins with oceanic motifs to emphasize its maritime heritage.
- Local Transactions: These coins are often legal tender within the issuing jurisdiction, facilitating everyday commerce. They are tailored to local economic needs, such as smaller denominations for markets with frequent small transactions.
- Tourism and Trade: Unique non-metal coins attract tourists who collect them as souvenirs, boosting the local economy. They also facilitate trade by being recognizable in international markets, provided their value is standardized.
- Counterfeit Prevention: Non-metal coins may incorporate unique materials or magical properties (e.g., glowing runes) to deter counterfeiting, ensuring trust in the local currency.
- Economic Role:
- Seigniorage: Issuers profit from minting non-metal coins when the production cost is lower than the coin’s face value. For instance, a clay-based coin might cost less to produce than its equivalent silver value, generating revenue for the issuer.
- Monetary Policy: Local authorities can control the supply of non-metal coins to manage inflation, deflation, or economic stability within their region.
- Customization: Non-metal coins can be designed for specific economic contexts, such as lightweight tokens for ease of carry in a coastal market or durable materials for harsh environments.
Interaction with the World Bank
- Exchanging Non-Metal Coins:
- Non-metal coins are not directly managed by the World Bank, which operates under the god of commerce and maintains accounts in standardized precious metal values.
- To deposit or withdraw non-metal coins, characters must visit a World Bank location. The bank will exchange these coins for their equivalent precious metal value (e.g., a non-metal “Drake Token” worth 1 silver is exchanged for 1 silver coin).
- The World Bank charges a 1% transaction fee, rounded up to the nearest copper. For example, exchanging non-metal coins worth 100 silver incurs a fee of 1 silver (100 × 0.01 = 1).
- Account Management:
- Once exchanged, the value of non-metal coins is added to the character’s World Bank account, visible only in their Mind’s Eye.
- Deposited coins (metal or non-metal) can be stored in Extradimensional Storage, where they lose all weight and do not count against storage limits, making it practical for characters to carry large sums without physical burden.
- World Bank Incentives:
- New account holders receive 100 gold and a choice of a self-recharging item (Blender, Clock, or Toaster) upon opening an account, incentivizing use of the World Bank for non-metal coin exchanges.
- Depositing over 1000 gold (or equivalent value, including non-metal coins) annually earns a new calendar, further encouraging engagement with the bank.
Practical Use of Non-Metal Coinage
- Carrying Coins:
- Non-metal coins, like precious metal coins, have weight, making them cumbersome to carry in large quantities. NPCs advise carrying a small amount for convenience (e.g., for local purchases) but warn against carrying too much to avoid becoming a target for thieves.
- Storing non-metal coins in Extradimensional Storage eliminates their weight, allowing characters to carry significant wealth without encumbrance.
- Local Economies:
- In regions where non-metal coins are legal tender, they are used for daily transactions, such as buying goods, paying taxes, or tipping. For example, a coastal city might use shell-based coins for market purchases.
- Outside their issuing jurisdiction, non-metal coins may not be accepted unless exchanged at a World Bank or recognized by traders familiar with their value.
- Strategic Considerations:
- Characters may prefer non-metal coins for local transactions to blend in or support the regional economy. However, they must plan for World Bank visits to convert these coins for broader use or deposit.
- The 1% transaction fee and potential scrutiny from World Bank staff (who ask questions during exchanges) require characters to weigh the cost and privacy implications of frequent exchanges.