What's the value of a Gold Crown? What was/is intended?

As Crowns came in, I found merchants, selling them for about 3,000.
Unfortunately I couldn't buy a lot, because earning gold was really hard.

After a while (and of course, after shop items came into the game) they were sold for about 4,000.

From that point I recognized a kind of new in game business:
People ran from town to town, buying Crowns cheap and selling them high.
So the price climbed up to 5,000.

I was waiting (and I suppose alot of other players) for that moment, Bundles can be bought in game for Crowns. Meanwhile I ran around from town to town over weeks and bought Crowns - happy to get most of them for 5,000 Gold ...

At the same time I recognized no further Crown Drops in the last months. In the past I got 1-2 a month.

After it was announced, that bundles will be in game soon -at last- they climbed up to 5,500 and reached currently 6,000!

The Gold I earned in game lost about 40-50% of worth in a few weeks...

Well, Crowns can be bought in Shop. And the amount of Crowns raised fast, I assume.
So I was wondering, why the price climbed up? Flooding the game with Crowns should make them cheaper...?

However:
Paying our taxes for our lot deeds is also possible with Crowns (If I got it right!)
1 Crown = 3,500 gold! (--> corrected former typed wrong value from 3,000 to 3,500)

So buying Crowns and paying taxes with Crowns is an expensive business - yet...

Best price on weekend sale is 0.69 for 1 Crown.
Buying from other players is 0.45 for 1 Crown.
So 1 Crown = $0.45 = 3,000 Gold
100 Crowns = $45 = 300,000 Gold

In game 1 Crown is now about 6,000 Gold, means 100 Crowns = 600,000 Gold.

Consider, how long a player needs to earn 6,000 Gold (and assume, this player can't play every day - and not more than 2 hours!)

(New) Players who want to participate and spend their Gold to have a major repair (1 Crown):
6,000 Gold ...

That's not fun at all. So salvaging is cheaper and making a new item, instead of repairing ...

I really hope, we can change gold into Crowns as soon as possible at the Crown Merchants or in Bank at a fixed price to stop the Crown business ...

I think there are enough business possibilities in game, where people can earn money ...

P.S.: There was a talk about the other Crowns and that they could be taken out of game.
Well, why not using them as special Crown drops?

May be, for example:
1 Copper Crown = 0.25 Gold Crown = 1,250 Gold
1 Iron Crown = 0.25 Gold Crown
1 Bronze Crown = 0.5 Gold Crown = 2.500 Gold
1 White Iron Crown = 0.5 Gold Crown
1 Constantan Crown = 0.5 Gold Crown
1 Meteoric Iron Crown = 0.5 Gold Crown
1 Silver Crown = 0.75 Gold Crown = 3,750 Gold
1 Gold Crown = 5.000 Gold

So, what should a Gold Crown be worth in future to prevent a kind of wall street business?
(Of course: only if it wasn't intended to provide this kind of business ...)

 

I am against port selling gold and setting a hard value on cotos would do that.

you may ask what is the difference between a player selling gold and port selling gold.

a player does something in game and gets gold and then has to determine what the effort of getting that gold is worth.

port would just be creating gold for a set irl price.

you could lawyer me with different arguments but my answer would always come to player actions and choices should be the main driver of the econ vs port setting a value on what gold is worth in transactions.

 

It wasn't about 'port selling gold'.
It's about how player's in game earned gold is affected by the use of Crowns (mostly not earned in game)...
(And as you know: Crowns are sold in shop ... influencing the price of gold)

And if taxes can be sold with Crowns (currently 1 Crown = about 3.500 gold), there is a value setting ...

 

Most of the crowns I get go towards upgrading my dungeon capacity so would be hard to set a value really.

 

Upgrading dungeon provides Crowns? Could you explain? Thank you for information

 

No it doesn't. Upgrading dungeon COSTS crowns

 

Same thing happened with deeds .. when farming was not yielding any profit and there were lot of deeds lying around from bundle drops and lottery ..they were sold very cheap town deeds were like 600-700k ..now you would be hard pressed to find a town deed for 900k-1 mil ...does that mean port should intervene so deeds become cheaper again ?

As gold loses value coto gold price will increase ... i dont mind if Port decides to increase coto drops ingame ..but im not sure placing an NPC vendor ingame that allows players to sell their gold in exchange for Coto will be a good bussiness move for them .

With that being said the math

100k gold = 8 $ = 12.3 COTO at 0.65 each store price = 8130 gold/1 coto
100k gold = 8 $ = 17.77 COTO at 0.45 each player price = 5627 gold/1 coto

So if you buy coto from store you buy them at 8130 gold if you buy them from players you get them at about 5627 gold... if some people choose to speculate its a whole other ball game , one that shouldnt demand an intervention from PORT.

 

Crown = 3500 GP for Rent

 

Thank you for clarification
So to pay taxes with Cotos is an expensive thing to do ...

 

Cotos were originally set at 3500 gold when they first were released. And have never been adjusted by Port. However, they always acknowledged that players would set an in game price that the players would be comfortable with. And the players have. If they think the in game rate is too high, they can buy it for real cash on the store or go the marketplace route to buy in game gold for real life cash and then purchase cotos. (I have no idea whether buying in game gold makes sense or not, just saying there are real money options if you think the price is to high.) As for what it costs for cotos in game, that a player economy issues that I believe Port doesn’t want to mess with.

 

I believe 3500 was set as a floor. If cotos drop below that alot more will begin being destroyed as folks use them to pay taxes.

If there is a ceiling that is hit they will begin dropping as loot more often.

In the past few months, loot in game was improved making it alot easier to farm gold

 

They were specifically never intended to have a fixed IGG value, aside from the lot tax value as a default. When COTOs were new, it was already discussed that they could go over 3500, at which point it would be better for players to sell them for IGG and pay lot taxes from that. This may be new to you, but it was a known possibility over two years ago.

So far, the main drivers for the price increase have been Portalarium adding new ways to spend them.

Originally, at persistence, they were worth about 1500 IGG
When the in-game COTO vendors were added, it shot up to around 3500-4000
There was a duping exploit for a while (with lots of "250 value" gold COTOs flooding the market), which held the price down to the 3500-4000 range
Then the price started rising again when that was fixed, and a few days later, it was announced that they would be used to add dungeon size points, and the price rose to about 5000.
Now that they have added more things to the COTO vendors it is rising again. I'm sure it's the new lots more than the bundles. The new POT keep and castle lots are sufficiently novel to be in demand, and sufficiently expensive to soak up the majority of coins currently in the game.

Yes, this means that the value of IGG is going down. It's called inflation, and I'm impressed to see multiple currencies floating their value relative to each other due to normal economic activity. Also note that it's not just IGG and COTOs, because the RMT price of both adds yet another dimension. If the RMT IGG sales are not adjusting for the higher value of COTOs, your best option could be to sell IGG for real money, then buy COTOs from the game store.

My main trouble is that I don't know what to do with so much inflationary IGG from selling COTOs that I have been sitting on all this time. I guess this may be the point at which you see people willing to put down larger taxable lots, since the taxes are explicitly tied to the value of IGG. And hey, this is just as people are going to want to pay the taxes for those new big lot deeds!

One more thing:
COTO value = in exchange for money given to Portalarium
IGG value = in exchange for time spent grinding

 

Greetings all. It is my opinion that the true price of crowns is set by resellers. With the option of buying bundles with COTOs it has made the price go way up. If I can buy Crowns for fifty cents a crown that makes bundles and all other things bought with crowns half price and I have seen crowns as low as thirty five cents each. If you ever wonder how much Crowns, IGG, or Real world money compares check this sheet out. The cost of IGG and Crowns caan be adjusted as the price changes just be sure to adjust the text below to agree with the formula.

Currency Converter

 

I'd pose that the best thing to do with large amounts of in game gold is sell it for real money. My confidence that Port can keep enough gold syncs in the game to stop mass inflation is very low. So your real money will hold value way better than in game gold. COTOs were a great buy at 3k but they are closing in on the same value that Port sells them for and I'd not want to be holding onto an extreme amount of them at this point.

And Portalarium does sell gold. The argument I see over and over about how they don't is just a load of lawyer speak. GOLD and COTOs are so easily convertable to each other that selling one is equivalent to selling the other.

 

You could argue in that way that any game that sells anything tradeable in game sells everything in the game as everything can be acquired through trade.

The fact that its alot easier to earn gold in game due to recent loot changes i think is the biggest reason for gold price. Earlier in the year when free api websites were still around to look at, something in the millions of gold was being sunk out of the game weekly. And it was mostly through crafting

 

The true price of crowns is set by the buyers, otherwise they would buy from someone else. The "resellers" don't have a monopoly, especially in-game (you know, where the coins are exchanged for IGG), and aside from visibility issues like not having a good location, buyers are fickle and will look for the best deal. Or, as things have been lately, sometimes the "resellers" get cleaned out and buyers have to look somewhere else!

 

I wonder when the value of COTOs will stabilize again... I'd like to build in the future.

This is a sticky situation for those of us who cannot (or for some reason refuses to) buy COTOs for dollars.

Time will tell.

 

I honestly think that's an unanswerable question to pose.

In terms of in-game gold, there's never going to be a 'real' value for a coto because the difference in playstyle, approach to the game, time available to play and many other variables mean it's a futile idea to even attempt a 'fixed rate'. I play very rarely nowadays, but even when I was around a lot what I did was mainly low level zones, gathering limited amounts of materials for my crafters to make slightly better gear and deco items stuff for me and some friends. I don't think I have ever got more than 200k gold in total never all my accounts, and have never really needed it, and coto prices in-game meant that gold terms they were crazily expensive - since I have three accounts, all with monthly 'subscriptions', those generate pretty much enough coto to cover the only relevant 'problem' costs for me, which are the monthly rental for the one rent-payable lot deed I have. Even though real-world money is tight, it is still much better for me to buy coto in the store than to even attempt to make the matching amounts in in-game gold - even if I could do that, which honestly I think is not possible for me. I can't even attempt to set what might be a 'reasonable' in-game value on them just for me, let alone for the entire player 'economy'. Therefore, to players like me, the 'value' of a coto is utterly and completely different from what it is for you.

Should I ever want to increase a bundle or buy an account upgrade, I'd never even consider in-game coto as a route to that, whereas for you, based on your apparent in-game gold earning rate, it might make perfect sense for you to do that - but pretty much every player is likely to have different points on the scale between it being a crazy idea, or a very practical idea. With several thousand players, you can be sure there will be several thousand playstyles, circumstances and preferences, and trying to create a 'fixed value' of something in this circumstance simply makes no sense. The temptation to try define values for something that looks like a currency is very hard to resist, but it should be avoided in cases like this, it's as strange as asking 'what is a dollar worth' when that varies by personal demand and circumstances, where in the world you are going to spend it, what you need it for , and a ton of other variables - hell, even real-money coto prices vary based on where in the world you are buying them....