Wizarding Currency
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The United Kingdom Crown is the unit of currency of the British Wizarding World and is defined by the Coinage Act of 2004 to be at least 20 grams of silver, regardless of other metals used to plate or engrave it. It is a fiat currency. The United Kingdom Crown is usually abbreviated as UKC or stamped on documents with a small depiction of a coronation crown or UK with the coronation crown alongside it.
Previous to this, British Wizard Currency was referred to as TBG (The British Galleon), with no additional depictions or stamps. To be considered legal tender, TBG followed most of the rules above, though while Knuts and Sickles were alloys, the Galleon was and is made of pure gold.
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Overview
The change of the standard Wizarding currency (from Galleons, Sickles and Knuts) to what you will see here did not come lightly, or easily, to those that had to do it. The British Ministry, under pressure from all wizard sides, had to make a snappy decision to equalise their tenuous place in the world; bordering countries had fallen under the Dark Lord’s sway, leaving most of the United Kingdom under fire and unable to continue trade so easily as before.
As well, Muggleborns, Half-Bloods and Full-bloods all banded together with a threat to leave their magical lives behind, taking their resources, investments and expertise with them, to never be used again.
The pressure did not end there; the goblins of Gringotts Wizard Bank looked to be on the verge of outright treason, which could not be, considering all they held in terms of wizard wealth and the secrets they carried for minting the then-known currency.
The Late Minister for Magic – Cornelius Oswald Fudge – had turned to the Wizengamot and after deliberations that seemed, to most, done overnight, the new currency system was first advertised via Daily Prophet on July 12th 2004 and then implemented some two weeks later.
Etymology
Coins
During the process to create the new currency, it was a matter of taste that had led to creation of more diverse denominations than were previously available, alongside convenience, although it had been raised more than once in the past by the coin committee. The Goblins, of course, refute and refuse such ideas – as sole handlers of the wizard world’s wealth - but since that hand has changed to those less leathery, the wizards and witches of the Currency Committee took great delight and pride in designing money that was appealing to the eye, fun and also more reminiscent of their Muggle cousins.
Some think it was a poor way to offer aid by way of cultural transitioning, though many realise the familiarity and respect given to the bronze, silver, and gold theme of the old currency.
Ruff
The Ruff is the smallest coin in both denomination and size, it's the size and shape of a standard (UK) penny, though its edges are cut into little bobbles. The Ruff is the lowest coin denomination in the new Wizarding Currency. Muggles may purchase a Ruff for one Pence, twenty-five (25) Ruffs are equal to one (1) Periwig. Take a closer look.
Periwig
The next in the line of coins is called The Periwig, it's the second denomination of three in the new coin currency; it is one third of a size larger then the Ruff and has slated edges, this coin is plated with silver and costs twenty-five (25) Pence to purchase. Four (4) Periwig are equal to one Torc. Take a closer look.
Torc
The last in the line of coin is called The Torc, shaped like a crescent moon with blunted edges and plated with platinum; it is obviously the most expensive of coinage and the most peculiar. Torcs can be purchased with one (1) Pound (Quid). Take a closer look.
Slips
When handled, the surfaces are smooth, the engravings can be traced with a finger, and while laying flat, they look stiff and quite solid. However, you can easily roll, bend, fold and otherwise store the money in any way you wish. In addition, the slips still make that faint metallic clink whenever it comes in (forced) contact with anything solid.
Circlet
The lowest of these denominations is called The Circlet. It can be bought by Muggles for five pound (A fiver) and is plated with silver. Five (5) Circlets are equal to one Sceptre. Take a closer look.
Sceptre
The next denomination is called The Sceptre. It can be purchased by Muggles for twenty-five (25) pound and is plated with gold. Five (5) Sceptres are equal to one Crown. Take a closer look.
Crown
The largest and final denomination in the entire of the new currency is called The Crown. Muggles can purchase a Crown for one hundred and twenty-five (125) pound. The Crown is plated with platinum and is used solely for large purchases. Take a closer look.
