[HPforGrownups] Exchange rates and the Wizarding economy (was:Lockhart - Magical Ability & Wands

[Yis M Koslowitz]

No: HPFGUIDX 24342

Thanks. Math is not my thing. I also don't have Internet access, so it's
hard for me to be up on all the HP links. 
What's your MSc. about (if it's not top secret) that you need so much
detail?
Robyn, who is utterly not a detail person.
On Thu, 16 Aug 2001 15:41:26 -0000 "Catriona" <hyria at yahoo.com> writes:
> Robyn wrote:
> > I'd love to know the Gringotts exchange rate 
> > for Muggle and Wizard currency - I wonder whose
> >  economy is stronger?
> 
> Catlady replied:
> >JKR said that a Galleon is worth five pounds (about seven dollars). 
> I
> >don't believe it: a look at the prices that Harry pays for things
> >suggests that the Galleon is worth something from $25 to $40 in 
> >modern money.
> 
> I've just done a few calculations based on the price on the back of 
> the UK QTTA where we are given that the price 2.50 equates to 14 
> Sickles 3 Knuts. 
> 
> We know (PS p58) that 1 Galleon = 17 Sickles and that 1 Sickle = 29 
> Knuts.
> 
> Because 14S 3K = 409 Knuts = 250p
> 
> We can calculate that:
> 
> 1p = 1.64 Knuts
> 1 = 162 Knuts = 5.58 Sickles =  0.32 Galleons
> 
> We can now estimate the value of Wizarding currency in terms of 
> Sterling (based on the exhange rate at the time of QTTA's 
> publication):
> 
> 1 Galleon = 3.04
> 1 Sickle = 17.85p
> 1 Knut = 0.62p
> 
> (Apologies for any rounding error)
> 
> If I have time later I might even calculate an optimal exchange rate 
> 
> for Gringotts.
> 
> I am working on a detailed analysis of the wizarding economy to 
> illustrate just how it can function effiiciently [Don't worry, I'm 
> not really insane, this is useful revision for my MSc]
> 
> Catriona
> 
> 
> 
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