Demystifying the Septims – The Currency of Skyrim

As an avid gamer and fan of the Elder Scrolls series, I‘ve always been fascinated by the worldbuilding and lore behind Septim coins – the main currency used in the land of Skyrim. On the surface, Septims appear similar to ancient gold coins – but what exactly are they worth? Where do they come from? And how do they compare to real and fantasy currencies? Let‘s dive into the rich history and economic role of Tamriel‘s most famous coins.

Introducing the Septim

The Septim is primarily a gold coin imprinted with the image of Tiber Septim – the legendary first Emperor of Tamriel who founded the Septim dynasty of rulers. Referred to as "Septims" or simply "gold," these coins are also known as "Drakes" in the Elder Scrolls games. Based on officially licensed collectible Septim coins, their size is estimated to be around 25mm in diameter.

Now say you‘re a fresh-faced adventurer starting your quest in Skyrim. What can you actually buy with one of these gold Septim coins? Well, a room at an inn might cost 10 Septims for a night, while a complete set of steel armor could run you 400 Septims. A horse costs around 1000 Septims. So it‘s clear they have some serious purchasing power!

The Rise and Fall of the Septim Dynasty

To understand the Septim, we have to go back to Tiber Septim‘s rise to power. As a Dragonborn possessing the supernatural power of the Voice, Tiber Septim was able to unify Tamriel through years of cunning tactics and warfare.

After conquering the continent and forging the Third Empire, Tiber Septim was crowned emperor in 2E 854, ushering in the Septim Dynasty and Third Era. As a Dragonborn, he was considered the rightful ruler by divine right – the blood of dragons granting him authority.

Tiber Septim minted the first Septim coins bearing his image as a symbol of his new Empire. For over 400 years after Tiber Septim‘s death, his descendants continued to rule Tamriel until the end of the dynasty with the assassination of Martin Septim in 3E 433.

Estimating the Value of a Septim

Now back to our original question – what is a Septim actually worth in real-world money? Based solely on the amount of pure gold in a Septim, some fans have calculated its value to be around $140 USD given today‘s gold prices!

However, when you consider the day-to-day purchasing power of a Septim in Skyrim, it seems to be worth far less than its pure gold value. If 10 Septims can buy you a room for the night, the coins are clearly not valued or exchanged based on their metallic gold content alone.

If we think about relative purchasing power, my estimate is that 1 Septim is equal in value to about $0.25 in US dollars. But we can look at some example Septim prices for goods and services to get a better sense:

So while a Septim contains a high value of precious metals, its day-to-day spending value is more like that of a quarter to the average Skyrim citizen.

Comparing Septims to Other Fantasy Currencies

Looking beyond Tamriel, coins and currency are a part of many fantasy worlds and medieval RPG settings. In J.R.R. Tolkien‘s writings on Middle Earth, silver pennies were commonly used by hobbits and peasants.

In the wizarding world of Harry Potter, strange-sounding Knuts, Sickles, and Galleons are the coins of the realm. The bronze Knuts are the smallest unit, with 29 Knuts to a silver Sickle and 17 Sickles to a gold Galleon. That makes 493 Knuts equal to one Galleon.

Historically, gold doubloons were a Spanish coin prominent in pirate lore and worth about $16 originally. The term "doubloon" came from the Spanish "doblón" meaning double, as they were worth two escudos.

It‘s clear Septims draw inspiration from coins of medieval Europe like golden ducats, but also have direct parallels to fantasy currency. Imagining exchange rates between Septims, Galleons, and doubloons makes you think about how currency affects everyday life in mythical worlds in exciting ways!

Debasing Currency and Inflation in Skyrim

Now, as an economist at heart, I can‘t help but think about how currency impacts the economy in a world like Skyrim. For example, what if the Empire started debasing Septim coins by adding more copper or iron to the gold?

This was a common tactic of medieval rulers short on gold reserves. By keeping the face value of a coin the same but reducing precious metal content, they generated more coins from the same initial gold stock. But the flip side is inflation as more coins chase the same amount of goods.

If Skyrim suffered rapid Septim inflation due to debasement, we might see prices rapidly rise as 10 Septims no longer buys you a room at the inn. Perhaps this economic pressure would even fuel social unrest and rebellion in Skyrim against the Empire!

The Allure of Rare and Collectible Coins

For coin collectors, few things are as exciting as getting your hands on an ultra-rare historic coin. The thrill of holding not just gold but a piece of the past is powerful. For example, the only legal-to-own 1933 Double Eagle $20 coin sold at auction in 2021 for a staggering $18.9 million!

While we can only dream of finding a horde of ancient Septims, fictional coins and currencies let our minds explore new monetary systems and their economic impacts. Plus, who wouldn‘t want to make it rain gold Septims after winning a battle or looting a dungeon? For gamers and economists alike, currency is integral to worldbuilding.

So there you have it – a deep dive into Tamriel‘s coins. From their political origins to economic roles, mysterious Septims give us a window into the vast lore of The Elder Scrolls. Next time you crack open a virtual coin purse or stumble upon a lost treasure hoard, consider the rich history and unlockable stories held within Skyrim‘s glistening gold.