Gold Pieces for Credits

Tom Kalbfus

Mongoose
Lets say a barbarian walks off a starship into a class A starport of a Tech Level 15 high population industrial world, and besides the animal skins he wears, he carries a sack of gold coins 300 of them up to the currency exchange window. The back lands with a thud on the desk as it contains 15 kilograms of gold, so how many credits will he get for that?
 
Probably nothing. We knew how to create gold in minute quantities at TL 6. By TL 15 it will be manufactured as needed.
 
Tom Kalbfus said:
Lets say a barbarian walks off a starship into a class A starport of a Tech Level 15 high population industrial world, and besides the animal skins he wears, he carries a sack of gold coins 300 of them up to the currency exchange window. The back lands with a thud on the desk as it contains 15 kilograms of gold, so how many credits will he get for that?

Merchant Prince says gold has a base value of 75,000 credits per displacement ton. Find out how volume the gold takes up, and do the math. (I believe 1kg of gold is approximately the size of your standard smart phone.)

Gold isn't as rare or precious a metal in a space-travelling society as it is on a planet-bound one, so isn't worth as much.
 
Jeraa said:
Merchant Prince says gold has a base value of 75,000 credits per displacement ton. Find out how volume the gold takes up, and do the math. (I believe 1kg of gold is approximately the size of your standard smart phone.)

An ounce of gold takes up 1.47 cm3. A Dton equals 14 m3 = 14 million cm3.

that is ~9,523,810 ounces of gold / KCr75 = Cr0.007875 per ounce * 300 = Cr2.36 for the 300 one ounce gold pieces.
 
F33D said:
Jeraa said:
Merchant Prince says gold has a base value of 75,000 credits per displacement ton. Find out how volume the gold takes up, and do the math. (I believe 1kg of gold is approximately the size of your standard smart phone.)

An ounce of gold takes up 1.47 cm3. A Dton equals 14 m3 = 14 million cm3.

that is ~9,523,810 ounces of gold / KCr75 = Cr0.007875 per ounce * 300 = Cr2.36 for the 300 one ounce gold pieces.

I knew it wouldn't be much, but that is just a little worse than I thought.

Alternatively, find out how much gold costs in the real world. 1 kg of gold is worth approximately $39,000 (US). 15 kg would be worth $585,000. Convert to credits. I've seen values ranging from $1-3 per credit, so between 195,000 credits to 585,000 credits. But gold isn't as rare in space, so that needs reduced.
 
Jeraa said:
Alternatively, find out how much gold costs in the real world. 1 kg of gold is worth approximately $39,000 (US). 15 kg would be worth $585,000. Convert to credits. I've seen values ranging from $1-3 per credit, so between 195,000 credits to 585,000 credits. But gold isn't as rare in space, so that needs reduced.

That would require rewriting the values established for it in the 3I. By a few magnitudes. And, throw out the window what we know & have good reason to assume technology wise...

Using Trav cheap power & PA's turning lead to gold cheaply and in large quantities becomes a reality.

If you took all the known (mined) gold on Earth it would displace ~318 Trav Dtons... 5,832 cubic yards.
 
I think transmutation of elements might be in Grandfather's ballpark though I don't remember any of the tech level charts showing the ability at all. Why do expensive alchemy when there are thousands of systems with precious metal bearing worlds and asteroid belts? This is what keeps the belter economy alive.

Oh, now you did it! When looking for another article, I think I remember quick scanning an currency exchange piece in JTAS too. I'll go hunt when I next have time. Not every planet will or should have access to credits and there will be many currencies all over a big galaxy. The credit would be most common in or nearby a starport.
 
Reynard said:
I think transmutation of elements might be in Grandfather's ballpark

That's incorrect We could do it at TL 6. With fusion power and particle accelerators the size they have in Trav it is easy. One of the few pieces of advance science that Marc nailed back in the 70's.

As to WHY do it? It is MANY times cheaper than asteroid mining.
 
If we can do it at TL 6, why don't we see any effects of elemental transmutation decades later (today)?

I just checked all my editions of Traveller and two have charts for Tech level achievements. I saw no examples in either for elemental or molecular transmutation beyond an example of TL 19 elemental matter transport but even that isn't changing to another element. Traveller, and the real world, doesn't support such a thing unless a referee wishes to introduce it for their campaign.

That means the worth of a belter again. Beltstrike mentions the value of precious metals that can make a belter a wealthy being. If such metals could be manufactured artificially, there would be no call for prospecting them.
 
Reynard said:
If we can do it at TL 6, why don't we see any effects of elemental transmutation decades later (today)?

If you read all my posts in this thread that is explained. Also, canonical prices and quantity of gold available means that it is man made.

Reynard said:
I just checked all my editions of Traveller and two have charts for Tech level achievements. I saw no examples in either for elemental or molecular transmutation

Utterly irrelevant. I also see no examples of safely compounding 2 deadly toxins into edible material but I'm sure that sodium chloride is used at the table. You REALLY expected Marc to list EVERY current technological process from the real world in the rules? Are you joking or, horrifically, being serious?
 
F33D said:
Probably nothing. We knew how to create gold in minute quantities at TL 6. By TL 15 it will be manufactured as needed.
I think harnessing the energy of a Supernova which by the way outshines all the stars in the Galaxy is no trivial feat! I don't think gold will ever be made cheaply, diamond however is a different story, since it is only another form of a common material carbon. I think the cost of manufacturing gold in a particle accelerator will always be much higher than simply mining it, so I believe it will remain a medium of exchange in areas where the Imperial Credit is scarce, like the Credit, gold is hard to counterfeit, though is it possibly to have a fake gold coin with a coating of gold, around lead and a core of tungsten to produce the same weight and texture of a gold coin, so long as too much gold isn't scrapped off the surface, but to actually manufacture gold is another story.
 
Jeraa said:
Tom Kalbfus said:
Lets say a barbarian walks off a starship into a class A starport of a Tech Level 15 high population industrial world, and besides the animal skins he wears, he carries a sack of gold coins 300 of them up to the currency exchange window. The back lands with a thud on the desk as it contains 15 kilograms of gold, so how many credits will he get for that?

Merchant Prince says gold has a base value of 75,000 credits per displacement ton. Find out how volume the gold takes up, and do the math. (I believe 1kg of gold is approximately the size of your standard smart phone.)

Gold isn't as rare or precious a metal in a space-travelling society as it is on a planet-bound one, so isn't worth as much.
The density of gold is 19,320 kg/m3, water is by the way 1,000 kg/m3, liquid hydrogen has a density of 70.85 kg per cubic meter, there are 14.114 cubic meters in a displacement ton of liquid hydrogen, therefore if you fill that volume with solid gold you get 3849 tons of gold! If that is worth cr75,000, then gold is worth cr19.48 a ton, which I believe is comparable to the price of steel. I'm not buying that gold is so cheap! if it takes a supernova to make gold, I don't think even fusion reactor can make it at a cost of cr19.48 worth of energy. If gold was that cheap, there would be no use for lead!
 
Jeraa said:
F33D said:
Jeraa said:
Merchant Prince says gold has a base value of 75,000 credits per displacement ton. Find out how volume the gold takes up, and do the math. (I believe 1kg of gold is approximately the size of your standard smart phone.)

An ounce of gold takes up 1.47 cm3. A Dton equals 14 m3 = 14 million cm3.

that is ~9,523,810 ounces of gold / KCr75 = Cr0.007875 per ounce * 300 = Cr2.36 for the 300 one ounce gold pieces.

I knew it wouldn't be much, but that is just a little worse than I thought.

Alternatively, find out how much gold costs in the real world. 1 kg of gold is worth approximately $39,000 (US). 15 kg would be worth $585,000. Convert to credits. I've seen values ranging from $1-3 per credit, so between 195,000 credits to 585,000 credits. But gold isn't as rare in space, so that needs reduced.
I wouldn't reduce it by more than a factor of 10. Gold is easier to mine in space, because you don't have to factor in the difficulty of mining so deep when you are mining an asteroid in the absence of significant gravity. I think one should roll a 6 sided dice and multiply by cr58,500 to get the barbarian's spending money, about cr180,000 would be a fair amount I think.
 
F33D said:
Jeraa said:
Alternatively, find out how much gold costs in the real world. 1 kg of gold is worth approximately $39,000 (US). 15 kg would be worth $585,000. Convert to credits. I've seen values ranging from $1-3 per credit, so between 195,000 credits to 585,000 credits. But gold isn't as rare in space, so that needs reduced.

That would require rewriting the values established for it in the 3I. By a few magnitudes. And, throw out the window what we know & have good reason to assume technology wise...

Using Trav cheap power & PA's turning lead to gold cheaply and in large quantities becomes a reality.

If you took all the known (mined) gold on Earth it would displace ~318 Trav Dtons... 5,832 cubic yards.
There have been a few errors in the Traveller material, I would suspect they meant to say cr75,000 for a metric ton of gold, not a displacement ton of gold! A metric ton is a measure of mass, while a displacement ton is a measure of volume. Still I find cr75,000 to be a bit on the low end. I think creating large quantities of gold rather than a few thousand atoms of it, would take stupendous amounts of energy, probably at least the amount of energy released by a 10 megaton thermonuclear bomb! I don't think the ability to release that amount of energy should ever be trivial nor should it be worth cr19!
 
Reynard said:
I think transmutation of elements might be in Grandfather's ballpark though I don't remember any of the tech level charts showing the ability at all. Why do expensive alchemy when there are thousands of systems with precious metal bearing worlds and asteroid belts? This is what keeps the belter economy alive.

Oh, now you did it! When looking for another article, I think I remember quick scanning an currency exchange piece in JTAS too. I'll go hunt when I next have time. Not every planet will or should have access to credits and there will be many currencies all over a big galaxy. The credit would be most common in or nearby a starport.
without the credit, gold should be a fairly universal medium of exchange, there are probably places in the universe where the credit is a worthless trinket, because the Imperium is far away, but gold will be worth something. And I agree with you, if you could manufacture gold for around cr19 a ton, there would be no use for belters, because we could transmute a lot of other elements too. helium should be rather cheap though as it is a by product of nuclear fusion, the main purpose of which is to produce energy. Fusing lead into gold requires energy however and a lot of it! Having cheaper energy because of fusion doesn't change the fact that manufacturing gold requires a lot of energy, and that energy could be applied to more productive uses such as mining gold out of asteroids! Stars go supernova whether you want them to or not, and they cost nothing, they produce the gold for free, and all you have to do is find it afterwards, it is a lot cheaper than making your own gold!
 
F33D said:
Reynard said:
If we can do it at TL 6, why don't we see any effects of elemental transmutation decades later (today)?

If you read all my posts in this thread that is explained. Also, canonical prices and quantity of gold available means that it is man made.

Reynard said:
I just checked all my editions of Traveller and two have charts for Tech level achievements. I saw no examples in either for elemental or molecular transmutation

Utterly irrelevant. I also see no examples of safely compounding 2 deadly toxins into edible material but I'm sure that sodium chloride is used at the table. You REALLY expected Marc to list EVERY current technological process from the real world in the rules? Are you joking or, horrifically, being serious?
I think there is more important cannon and less important cannon. I suspect Mark meant to say a metric ton of gold, which actually takes up a small volume, is worth cr75,000, not a displacement ton, though for the purpose of hauling it around in spaceships, it might make sense to treat it as if it takes a displacement ton. I think displacement tonnage of ships is actually an approximation for the ship's overall mass, with the assumption that the ship's overall density is approximately the same as liquid hydrogen. Otherwise, you could place a portable black hole in your cargo hold, a small one would fit in nicely say about 1 centimeter in diameter, it only has the mass of the planet Earth, just place grav plating on all the walls and ceiling of the cargo hold to shield the ship and everything outside of it from the black hole's gravity. What a nasty surprise it would be if you could suddenly release an Earth mass black hole from the cargo hold of a scout courier!
 
Tom Kalbfus said:
without the credit, gold should be a fairly universal medium of exchange, there are probably places in the universe where the credit is a worthless trinket, because the Imperium is far away, but gold will be worth something.


In the 3I gold is worth Cr0.007875 per ounce.






Tom Kalbfus said:
And I agree with you, if you could manufacture gold for around cr19 a ton, there would be no use for belters,

In the 3I gold is manufactured for <KCr75 per ton. Much cheaper than mining asteroids or even terrestrial mining.
 
Tom Kalbfus said:
[
I think there is more important cannon and less important cannon. I suspect Mark meant to say a metric ton of gold, which actually takes up a small volume, is worth cr75,000,

Nope. In that context he meant EVERYTHING as a Dton for filling cargo on a ship.
 
The density of gold is 19,320 kg/m3, water is by the way 1,000 kg/m3, liquid hydrogen has a density of 70.85 kg per cubic meter, there are 14.114 cubic meters in a displacement ton of liquid hydrogen, therefore if you fill that volume with solid gold you get 3849 tons of gold! If that is worth cr75,000, then gold is worth cr19.48 a ton, which I believe is comparable to the price of steel. I'm not buying that gold is so cheap! if it takes a supernova to make gold, I don't think even fusion reactor can make it at a cost of cr19.48 worth of energy. If gold was that cheap, there would be no use for lead!

Didn't say I agreed with it. But that is what the rules say.

I think there is more important cannon and less important cannon.

The correct word is canon.

I suspect Mark meant to say a metric ton of gold, which actually takes up a small volume, is worth cr75,000, not a displacement ton, though for the purpose of hauling it around in spaceships, it might make sense to treat it as if it takes a displacement ton.

Cargo has always been in displacement tons, not metric tons.

Even if it was metric tons, that would put a kilogram of gold at only 75 credits. The bag of coins would only be worth 1125 credits.
 
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