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Monetary Market Trading

The Monetary Market
The monetary market is the means by which Citizens exchange gold for currency and currency for gold. Citizens are allowed to earn up to 10 either through buying gold, or selling currency. There are two ways to exchange both currency and gold, one which is instant (buying currency or gold) and one which takes a bit of time (selling currency or gold.) As a general rule, if you SELL either gold or currency you will earn more than if you BUY gold or currency. This is because players pay a premium for instantly exchanging their gold or currency when they could have earned more by waiting.

The Value of Currency
The value of currency is set by supply and demand. Weak supply or high demand for either gold or currency will affect the others value relative to each other. In general, the SELL GOLD side of the market determines the value of currency (as opposed to the sell currency side.)

Entering the Monetary Market
To enter the monetary market select Markets from the top and click Monetary Market. The first page you see upon entering the Monetary Market is the BUY GOLD SELL CURRENCY window.


Here we see how much people are willing to sell their gold for. Using this example, it will cost you 190 GBP to buy 1.

Not only can you buy gold, you can also sell currency for gold. So, let's have a look at the other side of the market.


Click on the drop down box and select BUY GBP SELL GOLD to reach the other side of the monetary market.


Here we see the rate at which people are selling GBP for gold. Using this exchange rate, you would need to sell 166.6 GBP to buy 1.

Calculating the exchange rate
To figure out how much GBP you will need to sell to buy 1, or to figure out how much currency you can buy for 1, divide the amount of gold by the exchange rate.

Example:
The value of 1 is...
(amount/exchange rate) (1/0.006) = 166.66 GBP -- You will need to sell 166.66 GBP to receive 1

But wait! On the BUY GOLD side of the market the value is 1 = 190 GBP. Why the difference? The answer is, people are willing to pay a premium to buy it right away. If you are willing to wait for someone to buy your GBP, by selling it, you will need 13.33 GBP less to receive 1 gold.

Buying Currency or Gold
It's not the best way always, but sometimes you just need currency or gold right away and don't have time to sell gold for currency, or currency for gold.

Buying Gold (and selling currency)
As I said earlier, you can buy gold directly from the BUY GOLD side of the monetary market. You will get a poorer exchange rate but if you can't wait for your Currency to be bought, this is your only choice.


The left side shows the amount of gold offered for sale and the right side shows the exchange rate. Input the amount of gold you wish to purchase and click buy.

Buying Currency (and selling gold)
If you need currency right away and don't have time to sell gold, then you can purchase it directly from the BUY CURRENCY side of the market.


The left side shows the amount of currency being offered for sale and the right side shows the exchange rate. Input the amount of currency you wish to purchase and click buy.

Posting an Offer! Selling Currency or Gold
You will almost always make more money selling gold or currency than if you buy them directly, however you will have to wait for your offer to be bought by another player which can sometimes take a day or two. To list either gold or currency for sale, click the button labeled Post New Offer on the monetary market.

Selling Gold (and buying currency)
Let's say you need some currency, but you don't need it right away. We know from the examples above that we can buy currency directly at a rate of 1 = 166.6 GBP (from our calculated exchange rate), and that someone is already willing to buy currency at a rate of 1 = 190 GBP, so as long as we can sell it for less than 190 GBP but more than 166.6 GBP, we will have earned more GBP per Gold than buying it directly.


In the field on the left, input the amount of gold you wish to sell, and on the right input the exchange rate you wish to sell it at. After you have set your options, click Post.


Voilà! My market offer is first and stands a good chance of being bought.

Selling Currency (and buying gold)
Let's say you need some gold, but don't need it right away. We know from the examples above that we can buy gold directly at a rate of 1 = 190 GBP, so let's see if we can't get a better deal by selling our currency. From the Post New Offer section, select SELL GBP, BUY GOLD.


In the field on the left, input the amount of gbp you wish to sell, and on the right input the exchange rate you wish to sell it at. Note: when selling currency, you should be matching the existing exchange rate and not posting offers lower than it. After you have set your options, click Post.


Fantastic! My market offer has been posted, now I just need someone to come along and buy my currency.

Expired Offers
If your offers to SELL gold or currency are not bought after a certain period of time they will be returned to your inventory and an alert will be sent to you. Offers expire after a week or so, at which point you can simply post them again.

Have fun trading your way to the top!

Emergy Maxfell
P kewl guy