Bormar Belning

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The Bormar Belning is the chief currency of Bormar, and is used nation-wide, with the exception of some antiquated Outposts. It consists of four different denominations, three of which are officially minted by the Office of the Mint.

History[edit]

The Bormar Belning was introduced in 567 BC when the "First Act of Currency" was passed by the First House. The "First Act of Currency" was the first landmark bill passed by the Chamber in its existence as it radically changed the nation.

Prior to the creation of an official currency, each town of Bormar would use its own currency, or barter for goods. This made internal trade very difficult as conversion rates within towns usually resulted in massive losses to couriers.

The passing of the "First Act of Currency" was met with general appraisal, though there was vocal opposition from the many currency conversion companies.

The "First Act of Currency" also created the Office of the Mint, which would oversee the creation and security of the Belning.

The First Competition[edit]

The Office of the Mint created a nation-wide competition for concept coins, with the winner recieving a lump sum reward, and a single-issue two metre version of their design.

Each town and city would submit countless designs, based off their local area, or the coins they used before the new standard would be introduced. Lords and Ladies would sponsor dozens of artists and craftsdwarves to create concepts with their likeness on it.

After nearly a year of concept coins, the Office of the Mint announced the winning coin designs were selected from a sculptor based in Tor. Their concept consisted of four coins, with increasing sides as the value increased.

Torian Concept
Name Shape Coin Value
Tonning Triange 1 Tonning
Konning Square 8 Tonnings
Telning Pentagon 8 Konnings
Belning Hexagon 8 Telnings

The sculptor who pushed for anonymity stated that the shape would aid those with visual impairment, and the octal system followed Bormar's tradition of keeping gold in stacks of eight, for easier mathematical accounting. (two columns of four rows).

Three months later, the first of each denomination was minted. The first of each denomination was kept safe in the First House Treasury, with the second of each coin being embedded into the floor of the Office of the Mint.

Six months after the circulation of "Torian Concept", a two metre casting of a Belning was sent to Tor and secretly delivered to the sculptor.

Inflation[edit]

In the decades following the Torian Concept's release, the Office of the Mint's over-production of coins, and foundational corruption resulted in 28% annual inflation, exceeding the "Pre-Mint" 5% inflation. This was compounded by the First House ordering the production of thousands of Belnings to pay off bonds, furthering the inflation.

By 608 BC, the Office of the Mint announced the creation of a new denomination, the 'Citning'. In their announcement, they stated that the Citning would be worth one eigth of a Tonning and be the new lowest denomination.

The Citning would be created from waste Tin, and be cast in worn-out, or faulty moulds of the other denominations. To counteract the inflation, the Mint would stop the production of all currency for three years, and purchase the coins back from Dwarves, to circulate new the new currency values. This was called the "Minteen Concept".

The Minteen Concept
Name Shape Coin Value Material Production Cost
Citning Varies 1 Citning Tin 1.6 Citnings
Tonning Triangle 8 Citning Copper 5.3 Citnings
Konning Square 8 Tonnings Silver 1.2 Tonnings
Telning Pentagon 8 Konnnings Electrum 2.5 Tonnings
Belning Hexagon 8 Telnings Gold 7.6 Tonnings

The Second Competition[edit]

A few years after the official minting of Citnings, the Office of the Mint announced that they were producing each Citning at a significant loss, and would instead open a competition on how to reduce the price of the Citning.

The competition was open for over a year, but the Office reported less than a dozen entries, none of which were viable at-scale.

The competition ended with no winner. Instead, the Office announced the end of the official minting of Citnings. They advised that local smiths use spare tin as local Citnings.

Denominations[edit]

Citning[edit]

The lowest form of denomination, a Citning is a small rod, or cylinder, made from tin. It is less a coin and more a generally accepted measure of a useful metal and is used for the cheapest goods in Bormar.

Tonning[edit]

The Tonning is a simple three-sided coin made of copper, this small denomination that fills all workers purses. Worth eight Citning.

Konning[edit]

A common, four-sided Bormarian coin. Made of silver, it's worth is eight Tonnings.

Telning[edit]

A five-sided electrum coin, one of the higher value coins in common circulation in Bormar. Worth 8 Konnings.

Belning[edit]

A very rare coinage indeed, this six-sided coin is worth 8 Telnings. You could buy a lot with that kind of coin.

Production[edit]

Special Mintings[edit]

Usage And Adoption[edit]