The currency of the land is the penny, the shilling and the groat. There are twelve pennies in a shilling and 20 shillings in a groat. The coinage is made from gold and silver; the silver coins are the penny, the threepenny bit and the shilling; the gold coins are the griffin (a quarter groat or five shillings), the pegasus (a half griffin) and the dragon (a groat).
In addition to the metal coins, the guilds (particularly the alchemists) issue notes against which they guarantee to pay. The guilds also issue training papers permitting the named person to receive training from the guild. The value of these can be flexible but alchemical notes are regarded as “good as gold”.
The alchemists guild offers its services as a bank, money changer and lender. When money is changed there is a often a small charge to split it into smaller coins but changing up is usually free. The alchemists will always exchange alchemical notes for gold on demand, they also offer a discount for purchases made with guild notes; this can make alchemists guild paper worth more than its gold face value. The guild pays interest on cash deposited with it for safe keeping; the rate is 8% per annum paid at 2% quarterly.