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"They are only numbers. Numbers on paper; once you understand that. it's easy to make them behave. " ―Master of Coin Petyr Baelish [src]

Several different types of currency are used in the world's various economies.



The Seven Kingdoms

The coinage used in the Seven Kingdoms is based on the Gold Dragon coin, which has two common smaller denominations: Silver Stag coins and Copper Penny coins.

  • When he became Hand of the King to Robert Baratheon. Eddard Stark was shocked to learn from Master of Coin Petyr Baelish that the Iron Throne was an astonishing 6 million Gold Dragons in debt. Approximately half of this debt was to House Lannister. the wealthiest noble house in Westeros due to the many gold mines they control in the Westerlands. Renly Baratheon explains to Eddard that Robert doesn't put much thought into financial matters, saying that Robert dismissively refers to it as "counting Coppers". [1]
  • Robert Baratheon ordered a Tournament to celebrate the appointment of Ned Stark as Hand of the King. The prize money offered included 40,000 Gold Dragons to the winner of the joust; 20,000 to the runner-up of the joust, and 20,000 to the best archer. Ned Stark considered the total prize money of 80,000 Gold Dragons to be an extravagance the crown could not afford, but Robert ordered it anyway. [2]
  • During the tournament, Lord Baelish wagered Renly Baratheon 100 Gold Dragons that Ser Gregor Clegane would win against Ser Loras Tyrell in the joust. Baelish mused that 100 Gold Dragons could buy a dozen barrels of expensive Dornish wine. or a very high-end prostitute from the Pleasure houses of Lys. [3]
  • When Arya Stark is hiding out in King's Landing slum district of Flea Bottom after her father's arrest, she asks a local baker for a loaf of bread, and he says that it costs three Coppers. [4]
  • When Ros is stressing to the prostitute Daisy that Petyr Baelish's brothel in the capital city of King's Landing is a very high-end establishment, she says that "this isn't some five Copper bawdy house". [5]
  • When Littlefinger leaves for the Vale of Arryn and Tyrion Lannister is named the new Master of Coin, he jokes that Tyrion will do well if he just keeps a "low profile". Tyrion remarks that if he had a Gold Dragon for every time he'd heard such a joke about his dwarfism, he'd be richer than Baelish, but Baelish points out that the Lannisters are indeed richer than he is. [6]
  • Later, Tyrion reads through the financial records Littlefinger left, and is disturbed to learn (as Eddard Stark previously did) that the crown is millions of Gold Dragons in debt. Littlefinger always publicly acted like a financial genius able to make money out of thin air, but he balanced the realm's books every year by borrowing vast sums of money. Bronn points out that much of this is owed to Tywin Lannister. yet now his own grandson King Joffrey Baratheon sits on the throne, though Tyrion chides that Tywin isn't the kind of man to forget a debt. Worse, however, Tyrion points out that they still owe millions of Gold Dragons to the Iron Bank of Braavos. He warns that if they cannot pay back their debts to the Iron Bank, first it will stop giving out loans to the Seven Kingdoms, and ultimately it will start supporting rebellions against them. [7]
  • Lord Selwyn Tarth offered a ransom of 300 Gold Dragons for the safe return of his daughter Brienne. This sum is considered a very formidable ransom for a nobleman, even one belonging to a major noble House. [8]
  • At King Joffrey's wedding feast. he hires a troupe of five dwarf actors to hold a mock recreation of the War of the Five Kings, with each dwarf dressed up in costumes of one of the five kings at the beginning of the war. Joffrey finds their mock combat hilarious, though almost everyone else in the audience finds it in very poor taste or outright insulting. Joffrey's uncle Tyrion, himself a dwarf, is particularly insulted, but pulls aside his squire Podrick Payne and tells him to pay the dwarfs 20 Gold Dragons each afterwards, to make up for what he perceives as their public humiliation. [9]
  • Tywin asks Varys how large of a bounty they have to put on the head of Sandor Clegane in order to make common soldiers stupid enough to dare attack the formidable warrior. Varys suggests 10 Silver Stags, and Tywin responds to make it 100 Silver Stags. [10]

Beyond the Wall

The Free Folk living north of The Wall have a hardscrabble, survival-based economy, with little settled agriculture. As a result, Free Folk villages that the Night's Watch

encounters are more interested in directly useful things that they can barter for, such as weapons, furs, or fine wines, and usually not coinage, which has little inherent use to them. [11]


There are many different systems of currency in the eastern continent, particularly in the merchant city-states known as the Nine Free Cities.

The Free Cities and Slaver's Bay

Unlike Westeros, much of the economy of the cultures in Essos is based on slavery. As their name implies, the city-states of Slaver's Bay are the heart of the international slave trade. While feudal serfdom is the social norm in Westeros, the laws of the Seven Kingdoms specifically outlaw slavery there. Payment in slaves is frequently used as a form of barter in Essos. Some of the Free Cities are also economically engaged in slavery, but this varies among the different city-states. Some such as Volantis (which is closest to Slaver's Bay) are heavily reliant upon slavery, but others such as Braavos (founded by former slaves who fled Valyria ) have banned slavery.

Qarth is a major trading hub located next to the Straits of Qarth, through which all east-west ocean traffic must pass. In practice, Qarth is the furthest east on the continent of Essos that merchants from Westeros have been known to travel, and is thus at the extreme east of the mapped world to men in Westeros (Asshai and the Shadow Lands are located further east, but they are half-legendary to men in the Seven Kingdoms). They are also heavily involved in the slave trade.

Otherwise, each of the nine Free Cities as well as the cities of Slaver's Bay have their own unique minted currencies:

  • Gold Honors are round gold coins, used in Meereen. [12] Different cities use different variants of the Honor coin, such as Volantis and Qarth. the Meereenese Honor and the Volantene Honor have different designs on them. [13]
    • The currency used in Meereen (and apparently the rest of Slaver's Bay) is referred to by name for the first time as "Gold Honors" in Season 5's "The Gift ", when Jorah Mormont is sold at a slave-auction to Yezzan zo Qaggaz. a slave-master from Yunkai purchasing new gladiators to enter into the fighting pits in Meereen. Jorah is considered above-average because he is a knight trained in sword and lance: the bidding starts at 12 Gold Honors and he is ultimately bought by Yezzan for 20 Gold Honors.
      • In the novels, a bid of 5,000 Gold Honors at auction for a pair of slaves sent to the fighting pits is actually thought to be an insultingly low offer.
    • The Volantene coin that Mero holds in "Second Sons" appears to be silver, not gold. It isn't clear if this means that Volantene Honors are not made of gold, or that this is a sub-denomination of the Volantene Honor. Talisa also mentions people in Volantis using "coppers" even though the "Copper Penny" is a coin used in the Seven Kingdoms - but it isn't implausible that just as the Gold Dragon has sub-denominations made out of cheaper copper metal, Volantis also has silver and copper coins which are a sub-denomination of the main, gold currency.
  • The coins of Braavos are square-shaped, and made of simple iron. They are minted with the image of the Titan of Braavos on them. [14]
    • Different coins have also been seen in Braavos in the TV series, starting in Season 4's "The Laws of Gods and Men ", round gold coins with the hourglass-shaped symbol of the Iron Bank of Braavos on them: clearly different from their normal square currency with the Titan of Braavos on it, these might be some sort of special voucher-coins that the Iron Bank gave to Davos Seaworth (who them shows them to Salladhor Saan to re-hire his fleet). These coins reappeared in Season 5 stacked up on the table of the Thin man selling life insurance to sailors at Braavos's harbor. Alternatively they might be some sort of different denomination of the standard Braavosi currency.

The special coin that the assassin Jaqen H'ghar. one of the Faceless Men of Braavos, gave to Arya Stark is explicitly not normal currency. It is round and does not resemble a normal square Braavosi coin. Instead of "currency" it is a special token that the Faceless Men give to their allies or those they feel indebted to. Jaqen instructed Arya to present it to any man from Braavos if she needed help, and they would know this meant she was a friend of the Faceless Men. what is gold coin grass

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