I created four different currencies for my world - and now i'm overwhelmed. In your stories, how does currency work? what are the banking systems like in your stories? I have not worked much with currency in my stories before, and I'm curious how it works. I've done some research but am still confused.
What certain things are you confused on? I can try to explain things
Like, how is it made and distributed? Would there be a central bank?
I haven't necessarily thought of currency in my world (though now that you brought it up I'm thinking that that might be a little important for some parts of my story). What you should do, which is what I'm probably gonna do to, is research about how different existing currencies work, in both real life, history, and fiction; like in Harry Potter where there are Galleons, Knuts, and Sickles and there are 17 Sickles in a Galleon, and 29 Knuts in a Sickle, (meaning there are 493 Knuts to a Galleon), a Galleon is about 5 Great British pounds, they're stored in Gringotts Bank, etc. It also depends on where your story is set in time (if it's even on earth) and how your world works.
Currency, in my world, is coin based with materials indicating value; copper, silver, gold, platinum. each coin is worth 10 below it (a gold piece is worth 10 silver pieces). It's a quick an dirty way to set it up, but as I don't focus on the currency a lot in my world, it works for me. Banks are also set up to keep anything that is given for them to keep, not just money. My world's in a medieval fantasy so I didn't have much reason to be too complicated, or use things like bills and a central bank. Mints still make the coins and they keep it as well before distribution.
My currencies are kind of complex because not much is regulate on an international level. Essentially each country has their own currency in their own denominations. Before they go to another country, they have the option of trading in a certain type of currency for an "all trade" currency. This currency has a set value and can be exchanged almost anywhere for the same amount in that country. For example, let's say in America, you have $123 (I don't actually use real world currencies or countries, but for the sake of this example, I will.) You're going to another Japan, but your dollars are worthless there. So, before you embark, you go to your local federal American building and ask to exchange them for "all trade" currency. They give you like, I don't know, a piece of paper marking how much it's work SPECIFICALLY in Japan. Then, you go and give this paper to a federal agency in Japan and they give you the exact amount in yen. In my world "all trade" currency is denoted by special wooden/metal coins inscribed with a seal special to the country it originates from. This is for authenticity, and lets money exchanges know how much to give.
basically, they way currency works is the government has a hekka lot of gold, so they print and distribute pieces of paper, each one worth an amount of gold.
Please check the dates on posts before you post in them. This is from September 2018 so I don't think this person needs advise anymore.
(but if we're lucky we might revive the thread anyway! heaven knows this board could use the traffic)
That is a valid point. But it seems more affective to just make a new thread rather than reviving an old one.