How Much Were Gold Coins Really Worth During the Middle Ages?

In modern fantasy games set in worlds based loosely on medieval Europe, gold coins are portrayed as the normal medium of everyday exchange. In Dungeons & Dragons, for instance, players collect generic “gold coins” and use these coins to buy just about everything, including supplies for their quests and drinks at the local tavern. Trading in “gold pieces” is also a common trope in many fantasy novels.

People in Europe during the Middle Ages really did use gold coins, but gold coins were much rarer and much more valuable than they are often portrayed in modern fantasy games and novels. Daily commerce in Europe during the Middle Ages was conducted not with gold coins, but rather with silver and bronze coins. In fact, most ordinary people during the Middle Ages probably rarely even saw gold coins.

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