Setting a Price for Iron and Copper Ore

1. Those prices are very high. I see 20 stacks of gold ore selling for 500 to 550 gold. That's about 27 gold per ore. I see similar pricing for Iron and Copper ores. Slightly higher for Tin, Tungsten and Nickel though.

2. People don't even pay that much for ore on their orders.

3. I won't be selling ore for higher than the current market rate either.

Good luck trying to make sales at those levels of pricing.

 

So then.. at the 138g per ore price.. a suit of augmented chain mail uses 20 coils (2 ingots per coil).... so 40 ingots.. which is 160 ore X 138g = 22,080g + another 16 ore (2,208g) for the bindings = 24,288g.

I don't think this pricing scheme is reasonable based on the sale cost of product. I don't see anyone spending that kind of money for a standard outfit.

In this case... it would be illogical for the crafter to purchase the ore... they would have to harvest it for themselves.

 

A very interesting take on pricing of ore. I been thinking about this myself. My numbers are a bit different then yours as my mining is all at 80. I mine hold and silver. I am at 100 gold and 200 silver in roughly 2 hours. I kill everything on each level and don't loot th mins so takes longer for them to respawn. Allows me to mine a full circuit of a level 1 and 1/2 times.

With chunks of coal in the game, I wonder if people will be selling ingots for the price of ore.

 

Where are you seeing these stacks?

Also, I think recent readers have missed the point of the post. He was trying to figure out the opportunity cost of mining vs. doing something else, and arriving at a value that way. No where in here was he or anyone else trying to convince the market to sell at that price. Don't panic!

It's a good exercise to do, and it payed off. Now he knows he can sit at his bookstore and read and go buy ore at 1/3 its true value, instead of spending all his time in the mines.

 

There is no economy in this game beyond prices for buying and selling on NPC's. Not enough people are playing for prices to stabilize and demand is basically zero. As for supply, those heavily into crafting played (at launch) when there were methods that allowed resource gathering to be MUCH more effective than it is now. They've already crafted what they wanted, or have huge stockpiles and are waiting for a reason to use them.

You're looking to establish staples in an economy that isn't functional. That's what you missed. There's no point attempting to do this because it can't be done in the current state of the game.

 

I think I and a lot of people who could be polled easily from the trade channel in Discord would disagree with everything you just said.

 

Gotta include more than just gold in opportunity cost. There is a sweet spot int he game where sitting int he Elysium mine is "The Bomb". You get ore, loot and level up at a reasonable pace. Once you spend hundred or so hours doing this you get to the point where you don't really level up much in there and the opportunity cost to you changes as now you have to start valuing how fast you can level in Deep Ravens or Crag Foothills while collecting selling loot to then buy your ore.

I think you calcs were awesome but just need to include more things.

The new 2 skull mines are probably gonna crush ore prices. Also there are odd forces at play.
ex. People want bronze which needs TIN. At the moment more copper falls while mining tin than is needed to convert all the tin to bronze so anyone that wants bronze only is gonna have a copper surplus which is gonna beef up supply a lot.