"How much is the processing fee?" Joel did not directly respond to the goblin's question.
"You first need to purchase a certain weight of alloy. Of course, you can also leave this matter to us..."
"The processing fee depends on the amount of silver you exchange. If the amount is huge, we at Gringotts also have certain preferential measures." The goblin rolled his eyes, "If it is more than 100 kilograms, we will only charge 17% of the total value of the final silver.
processing fee.”
17%? This price is not low.
Joel frowned slightly, an action that the old goblin interpreted as dissatisfaction with the high processing fees.
"Sir, the processing fee is negotiable," the goblin said anxiously. He regarded wealth as his life and did not want to let go of such a big order. He leaned down and said, "I can ask the manager to apply for a lower price."
Joel acquiesced to this act, and the goblin led them into the reception room before going to the office upstairs.
Ten minutes later, the goblin panted and opened the door, "15%, this is our bottom line."
"No problem." Joel agreed readily.
"Do you want to observe the forging?" The goblin lowered his attitude, "We have the third largest forging room in the magical world underground."
Joel thought for a moment and rejected the goblin's proposal, "This is 258 kilograms of silver. After it is made into silver sicoes, it will be converted into gold galleons for me so that I can carry it easily."
He took all the silver out of the small bag. Metal of this weight had to be transported using a levitation spell.
The moment the goblin saw the silver, his eyes shone brighter than the silver.
"That's right," the goblin took out the abacus he carried with him and began to calculate, "A silver coin contains 60% silver and 40% other metals. 258 kilograms of silver requires 172 kilograms of alloy."
"And one silver coin contains a total of 1.2 grams of silver. 258 kilograms of silver are equivalent to 215,000 sicols, which is 12,647 galleons." The goblin calculated quickly.
"After excluding the 172 kilograms of gold and the 15% processing fee... there are still 9,700 galleons left."
"Can I take the liberty of asking, how much gold does your Galleons contain?" Joel asked seemingly casually, taking out the wand in his hand and quietly pointing it at the goblin who was busy counting with his head down.
The goblin's eyes were confused. He hesitated and answered in a vain voice, "0.6 grams."
Joel nodded and removed his wand.
The goblin's eyes suddenly became clear, he shook his head and put away his abacus.
He lightly snapped his fingers, and Bai Yin on the ground followed him out of the reception room.
The goblins did not delay, and happily paid the money after the appraiser confirmed that the purity and weight of the silver were correct.
Sergey looked at the brown bag filled with gold coins, and he was still confused. When they left England half a month ago, they had 2,800 galleons in their hands, but now it has become 9,700 galleons?
"Let's go," Joel buttoned up his coat, "Let's go to Knockturn Alley first. We still have things to do."
When Joel saw that Sergey didn't speak, he nudged him lightly with his elbow, "What's wrong? Are you scared out of your wits with just this little money?"
Sergey swallowed, put his wallet into his small bag, and followed Joel out of the Gringotts gate.
After spending 60 Galleons on a bottle of Polyjuice Potion at Borgin Burke's store, Joel felt a little unhappy as he watched the shop owner's gloomy face turn into a smile.
60 Galleons is not cheap, not to mention that Polyjuice Potion has become an integral part of Joel's future, so he decided to make his own potion.
Save money when you can, and spend it when you need to.
That's what he said, but he turned around and spent 50 Galleons to buy a lot of other things in the store. He also spent 150 Galleons to buy a small suitcase with a traceless expansion charm. The space inside was smaller than the pocket.
The small package is much bigger.
After putting all the items into a small bag, Joel took Sergey and ran back to the Leaky Cauldron.
As soon as I ran upstairs and closed the door, the effects of the polyjuice potion had completely disappeared.
Joel took off his coat, which was much too big, put on a short-sleeved T-shirt, sat cross-legged on the bed, and began to organize his tools.
"What are you doing?" Sergey looked at Joel in confusion as he assembled the dissolving device.
"Dissolve the gold in the gold galleon, and then sell it to the pawn shop." Joel did not look up, concentrating on his own business.
"You want to do it again?"
"What else?" Joel tilted his head and looked at him, "This kind of fat sheep must be caught hard. We don't have to do more. If we go back and forth twice, the gold galleons we have will be enough.
."
In fact, Joel felt greedy in his heart more than once after his success in reselling gold and silver. What he did can be summed up very simply: making use of the different gold and silver ratios in the wizarding world and the Muggle world to make a fuss and conduct arbitrage transactions.
The gold-to-silver ratio in the magical world is fixed (1 Galleons to 17 Sickles, and the gold-to-silver content ratio alone is 1:34), while in the Muggle world, the gold-to-silver exchange ratio is floating, that is
That is to say, as long as the exchange ratio of gold and silver in the real world is greater than 1: (34 + processing fee and alloy fee per gram of silver), you can make profits from it.
Buy silver from the Muggle world, then go to Gringotts to make it into silver Sickles, then exchange it for gold galleons, then filter out the gold from the gold galleons and sell it to the Muggle world...and the cycle repeats.
Joel majored in business administration in his previous life, which is not very relevant to finance. If a hedge fund person came to the wizarding world, he would be much more proficient in operations than him.
But he doesn't plan to do this now. If Gringotts is hollowed out, the entire magical world will be in turmoil, and the people in Gringotts probably won't allow a large amount of gold to flow out. Goblins are always good at money.
Extremely shrewd, if they find that a lot of gold is flowing to the Muggle world, they will take corresponding measures.
Now Joel has not fully grown up, he just wants to make "some" money secretly as the rules allow.
Thanks to the fact that many aristocratic ladies like to wear gold jewelry, the Bojin Bok store sells a very convenient dissolving and evaporating device for melting and reshaping gold galleons. In one night, all 9440 galleons were dissolved, and the gold inside became
A big golden lump.
The two people who were on the bus lost more than one hair and were expected to be bald within two years. They drank polyjuice potion and pretended to be the same as yesterday. They returned to the pawn shop and met the manager. They handed over a large amount of hair.
The gold was sold out.
Still not wanting US dollars but spot silver, they came to Gringotts again.
The same old goblin wearing glasses received them before. Faced with the same demand as yesterday, the old goblin didn't ask any more questions and exchanged all the hundreds of kilograms of silver they brought with them for gold galleons.
Going through the cycle again, Joel and Sergey looked at the suitcase full of gold galleons and looked at each other speechlessly.