various coins

In Middle-earth several different currencies were in use.Cultures who did not use coins, traded in goods but often used metal bars or ingots as a substitute.In fact the first coinage was likely invented by the Dwarves and originally developed out of very small, elaborate shaped, metal bars and later Medals and Amulets originally given away as Tokens.

Arnor and Gondor

The Kingdom of Gondor and most of the former provinces of Arnor had preserved the ancient Númenorean currency:

  • Double-Dragon or ducat - Gold coin of the highest Value (approx. 0,16 ounces gold)
  • Mirian (a goldpenny) = gold coin (approx.0,04 ounces gold)
  • Castar (or Canath) = Silvercoin, 1 quarter of a Mirian (approx.0,01 ounces gold)
  • Tharni or silver farthing  (a Fourpenny) = 1 quarter of a Castar (0,28 ouces Silver)
  • silver penny (approx. 0,07 ounces silver)
  • Brass coins (Brasslings or Buttons)  = 1/4 Silver Penny (approx. 1 ounce Brass)
  • copper coins (Copperlings or Quarters) (approx. 0,28 ounces copper)

In times of need the Lords of the Westlands had also often introduced necessity money, made of Tin (often 1 ounce Tin), Lead (often 0,01 ounces Lead) or Zinc (0,12 ounces Zinc).For small bargains people also often cutted greater coins into pieces and paid with hack-silver or even hack-copper.As everywhere purity and worth of the different coins could differ significant throughout the ages.

  • Tin-Coins = approx. 2 Tharni
  • Zinc-Coins = approx. 1/2 Copperling
  • Lead Coins = approx. 1/16 Copperling

Black Númenóreans

The Black Númenóreans had preserved the original Númenórean coinage System and was much similar to those of Gondor and Arnor, however with the decline of númenórean civilization also the purity of their coinage was reduced and in later times coins often were cheap imitations of their predecessors.

  • Double-Dragon - Gold coin of the highest Value (approx. 0,16 ounces gold)
  • Pharazan (approx.0,04 ounces gold) = 1 Mirian
  • Tharan = 1 Tharni
  • Silverpenny (approx. 0,07 ounces silver)

After the decline:

  • 1 gold Pharazan = 10 silver
  • 1 Silver Tharan = 10 Bronze
  • 1 Bronze Coin = 10 Copper
  • 1 Copper Coin = 10 Tin Pieces


The Mints of Moria were generally regarded the best of whole Endor.The Dwarves of Dúrin's folk emitted only coins of Mithril, Naukomalda,common Gold, Naukotelpe and common Silver.Other Dwarven-tribes were known to mint three sorts of coin, the Mazuldar, Ziguldar and Ghuladar.

Currency translation:

Moria Coins:

  • 1 Dúrin's Coin of Mithril = 20 arthedainian gold ducats or 10 gondorian gold ducats
  • 1 Dúrin's Coin of High-Gold = 2 arthedainian gold ducats or 1 gondorian gold ducat
  • 1 Dúrin's Coin of common Gold = 1 arthedainian gold ducat or 10-16 gondorian canath
  • 1 Dúrin's Coin of High-Silver = 2 arthedainian silverpennies or 2 gondorian silverpennies
  • 1 Dúrin's Coin of common Silver = 1 arthedainian or gondorian silverpenny

Eastern Dwarf Coins:

  • 1 Mazuldar = 1/7 Ounce high-gold = 1 Ducat or Double-Dragon
  • 1 Ziguldar = 1/7 ounce Electrum = 5 Canath
  • 1 Ghaladar = 1/7 Ounce high-silver = 3 Silverpennies
  • 1 Ghuladar = 1/3 Ounce Steel = 20 Tharni

Some dwarven tribes were known to mint 1/4 oz. Mithril coins, 1/2 oz. Platinum coins called Kelundar, and greater varies of the Mazuldar (1/2 oz. High-gold), Ziguldar (1/4 oz. common Gold), Ghaldar (1/2 oz. high-silver) and Ghuladar (1/4 oz. silver).


The Elves usually didn't recognize coins and relied mostly on barter, also elves used to estimate Silver higher than gold making currency exchange difficult.The Mirkwood-Elves however had started to emit a simple silver-coin, the Celeban for trade with the Northmen.

1 Celeban = 1/4 Ounce Silver = 5 gondorian Silverpennies


After the fall of Arthedain the Hobbits continued to emit imitations of arnorian Coins.Through the late third Age Michel Delving retained it's mint though the Hobbits had at some point replaced the historical coin images with hobbitish writing and images.However the mint of Michel Delving never emitted any coins greater in value than a fourpenny.

  • silver farthing or Fourpenny = 1 quarter of a Castar (0,28 ouces Silver)
  • silver penny (approx. 0,07 ounces silver)
  • Brassling or Buttons = 1/4 Silver Penny (approx. 1 ounce Brass)
  • Copperlings or Quarter (approx. 0,28 ounces copper)


The Dunlendings and Hillmen didn't mint coins (with the exception of late rhudaur and Angmar), however their Daen-Ancestors had introduced Torc- and lens-shaped, double-conic and axehead-shaped ingot-money.The Men od Enedhwaith continued this tradition while the Mountainmen of Gondor used standard gondorian Coins minted by their teretorrial Liege-Lords.In Angmar and among the Hillmen the basic units were seoit and Cumal:

  • 1 sét = 1 iron Dagger or a half Cow
  • 6 sét = 1 Cumal (Slave-girl)
  • 1 Cumal = 3-6 Cows = 3 ounces Silver = 7 years of Work done by a strong Woman = 6-8 Seoit = the seventh part of the wergild to pay for a Freeman
  • Double-conic Ingot (4-8 lb iron) = 4-8 Canath
  • Axehead Ingot (4 lb iron) = 4 Canath
  • lens-shaped Ingot (12,2 lb bronze) = approx. 12 Tharni or 3 Canath
  • Torc-Money (3,2 oz Bronze) = approx. 3 Brasslings

Northmen of Rhovanion

The Northrons relied mostly on simple barter trade, but some more influential northron Lords, as the Kings of Dale had also started to emit coins, mostly imitations of gondorian exemplars.The earliest of these imitations dated back to the Days of Vidugavia and were Copper, Iron and Silvercoins known as the Mel,Eisarn and Filudail.

Coinage of Esgaroth:

  • Lake-town half-penny (halfpenningur) = worth 10 gondorian copperlings.
  • Miot (earlier: Mizdo) - 1/4 ounce Silver worth approx. 1 gondorian Tharni.
  • Mál (earlier: Mathla) = 1/4 ounce Copper worth approx. 1 Copperling
  • Halfmiot (earlier:Halbamathla)- a Miot cut into two pieces.

Coinage of Dale:

  • Iárn = 1/4 ounce of Iron worth approx. 10 Brasslings
  • Mál = 1/4 ounce Copper worth approx. 1 Copperling
  • Halfmál - a Mál cut into two pieces
  • Feldeila = 1/8 ounce silver worth approx. 2 Silverpennies

Coins of Western Rhovanion:

  • Iren = approx. 10 Brasslings
  • Mael = approx. 1 Copperling
  • Mete = 1/4 ounce Silver worth approx. 1 gondorian Tharni
  • Féladael = approx. 2 Silverpennies


The Rohirrim used gondorian currency as well as their own Pening-coin.

  • Pening = 1 silver Penny (approx. 0,07 ounces silver)


The Dorwinrim used gondorian currency as well as their own high-value ivory-coin, the Kysûri.

  • Kysûri = 2 tharni


The Haradrim used their own currency of Harmîr or gold- and bronce-rings as well as Shell-money (sea-shells, often in the form of necklaces).A few of the former black númenórean Colonies and former gondorian puppet-rulers had also preserved coinage (mostly imitations of Númenórean mint).The best known Haradrim-coinage was those from Tûl Isra and Tûl Harar.The Adena of the Utter South used a primitive currency of heavy (approx. 2 pounds) bronze and copper ingots while their more civilized Drel-kind minted silver coins and the Pel both gold and silver coins, yet both peoples still relied on Black númenórean coins for common trade.

Tûl Isra Coins:

  • 1 Saris (Silver) = 10 Sort
  • 1 Sort (Bronze) = 10 Garn
  • 1 Garn (Copper) = 1 Copperling (northern currency)

Tûl Harar Coins:

  • 1 Kesh (Gold) = 5 Ged
  • 1 Ged (Jade) = 20 Kos
  • 1 Kos (Silver) = 10 Sort
  • 1 Sort (Bronze) = 10 Garn
  • 1 Garn (copper) = 1 northern Copperling

Seven Lands

  • Adena-Ingot (Bronze) = 8 Silverpennies or 2 Tharni
  • Adena Ingot (Copper) = 2 Silverpennies
  • Drel-Coin (Silver) = approx. 1 Silverpenny
  • Pel-Coin (Gold) = approx. 1 Mirian
  • Pel-Coin (Silver) = approx. 1 Silverpenny

the dark Lands

The Dark Lord had imitated númenórean coinage for a long time and emitted his own currency among his vassal-kings, but most Men of Darkness still relied on simple barter trade. Cultures in Harad, Rhûn or even Eriador and Rhovanion were often dealing in Ingots or bars instead of coins:

  • Axe-head money (approx. 4 pound iron) = 4 Canath
  • Easterling and Haradan Silverplate-Money (approx. 0,024 pound silver) = approx 7 copper-1 brass
  • Far-eastern bronze-bar Money (approx. 4 pound bronze) = approx. 4 Tharni

Metalvalues in númenórean Pounds

  • 1 Bar Gold (approx. 1 pound Gold) = approx. 96 Ducats or Double-Dragons
  • 1 Bar Electrum (approx. 1 pound Electrum) = 140 Mirianath
  • 1 Silverbar (approx. 1 Pound Silver) = approx. 4 tharni and 2 silverpennies
  • 1 Steelbar (approx. 1 Pound Steel) = approx. 60 Tharni
  • 1 Ironbar (approx. 1 pound Iron) = approx. 10 Canath
  • 1 Brassbar (approx. 1 pound Brass) = approx. 16 Brasslings
  • 1 Copperbar (approx. 1 pound Copper) = approx. 16 Copperlings

Role-Playing Games



MERP has Gold, Silver, Bronze, Copper and Tin Coins.The default Values are:1 gold = 1 gold, 10 silver = 1 gold 10 bronze = 1 silver,10 copper = 1 bronze,10 tin = 1 copper.

The Rohirrim use the Pening-Coin, equivalent to one Silvercoin.The Dorwinians use the Kysûri Ivory-Money, the Haradrim use Gold and Brass Rings and Shell-money, but umbarean Coins are also mentioned.


LOTR RPG has five coinage Types: copper penny, ,silver penny, silver piece, gold penny and gold piece.It uses the classic relation of value mentioned in J.R.R. Tolkien's Books: 1 Goldpiece = 4 Gold Pennies, 1 Goldpenny = 4 Silverpieces, 1 Silverpiece = 4 Silverpennies with the exception of the copperpenny which is = 100 Silverpennies.

Much of the default prices mentioned in the corebook is based on research, for example a Pony in Bree costs exactly four silverpennies- the exact price mentioned in the Book the Lord of the Rings.


In LOTRO there are several different types of coin, bronze, Copper, Silver, rift-iron, Gold, Platinum and Mithril.There are also different currencies mentioned, Arnorian Coins, Coins of the Hand, Coins of the Mark, Dwarf-coins.Coins are also often not simple money but special Tokens and Talismans("Lucky coin", "Coin of Spirit", "Coin of Courage", "Frostbluff Coins" etc.)

LOTRO uses a System in which 1 Gold has the worth of = 1,000 Silver and 1 Silver the worth = 100 Copper.



  • Middle Earth Coin Weights,  and conversion of MERP and LOTR RPG Coins, by
  • Christian Haas, the Currencies of Middle-Earth (Essay)

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