I'm working on my minimalist OSR doc again, and this time I think I'll actually publish something before the end of 2026.
Today, I tackle treasure.
A Note on the B/X Economy
Analyzing the treasure tables was a somewhat frustrating experience. Things don't seem to make much sense, even after years of forcing myself to accept that D&D's economy doesn't work like the real world. When trying to make sense of treasure weights, I kept noticing that many simple objects — knives, swords, bows — are worth their weight in silver or more. This could, at first glance, be justified by imagining a world where gold and silver are extremely abundant but skilled craftsmanship is rare. But when you start relating this to specific creatures and thinking of commerce across towns, the logic doesn't hold up.
Take kobolds. Their treasure is mostly copper, and often they carry no treasure at all. Maybe the game doesn't want you to get rich by robbing them. Yet a kobold armed with a shortbow is, by the standards of this economy, extraordinarily wealthy, since a shortbow is worth almost its weight in gold. A spear is worth roughly its weight in silver.
Copper, as a whole, serves almost no function in the game's economy. It appears in treasure tables, weighs the same as any other coin, and is worth one hundredth of a gold piece. The average adventurer (or kobold) would accumulate and transport weapons and simple manufactured objects rather than copper coins, even accounting for depreciation and indivisibility, since the value-to-weight ratio is up to a hundred times better. The fact that travelling is not easy or safe in most D&D worlds makes the whole issue more obvious - the cost of moving copper around would probably vastly surpass any gain you can make. The wages of hirelings/retainers would hardly pay for that service, maybe not even their food.
Aristotle listed portability, durability, and divisibility as the essential characteristics of money. Copper fails the first test badly enough that it feel useless as currency in a D&D world.
And now I can't unsee this. It simply doesn't make sense.
Before giving up completely: in my last campaign I divided the weight of all coins by ten. I don't know if this actually fixes the underlying problem, but with some good will it seems to work well enough at the table. I also prefer to use: 1000 cp = 100 sp = 10 gp = 1pp, just because it is simpler.
With that brief aside, let's move on. I'll analyse the system as originally written, but keep in mind by the end I'll still coins that are much lighter.
Let's do this anyway!
I started by giving each creature 100 gp of treasure per Hit Die in another post. Dragons are a different case entirely; they double, triple, or multiply both value and weight. They are, in the most literal sense, hoarders of useless coins.
The other half of the equation is weight. In B/X, every coin weighs (about) one tenth of a pound, and the encumbrance system punishes anyone who doesn't think before filling their pack. With this ruler it's possible to calculate the value density of each treasure type (how much each pound the adventurer decides to carry is actually worth). Before presenting the three groups, I must add that about five treasure types (I, L, M, N, and O) that exist in the tables aren't assigned to any monster in the entire canonical B/X (neither in Moldvay's Basic nor Cook's Expert), so I ignored them for now.
With the remaining types (those actually used in the bestiary) ranking by gp/lb reveals three groups with sufficiently clean boundaries. I used AI for some of the math, so please correct me if I'm wrong - I had to revisit it several times.
BTW, OSE's Treasure Types, reproducing the logic of B/X, have been invaluable to this post.
Group 1 — Heavy treasure
Types P, J, Q, K, B, C · average ~3 gp/lb
The weight of this treasure is dominated by low-value coins. Type P is pure copper (0.1 gp/lb). Type J, the kobold lair, mixes copper and silver to reach 0.3 gp/lb. Q and K are small amounts of silver and electrum.
Bugbears, ghouls, wights, gargoyles, ogres, all varieties of lycanthrope, minotaurs, owl bears, harpies, hold treasure with a density between 3.5 and 3.7 gp/lb. As inefficient per pound as a kobold lair, just heavier. Types B and C are dominated by copper, silver, and electrum, with only a small chance of gems and an even smaller chance of a magic item.
Group 2 — Mixed treasure
Types R, H, E, D, S, F, G, A · average ~11 gp/lb
Gnolls, hobgoblins, lizard men, and orcs (type D, 9.5 gp/lb) sit alongside elves and doppelgangers (type E, 8.5 gp/lb), medusa and shadows (type F, 15.9 gp/lb), dwarves (type G, 17.3 gp/lb), and at the top of the range, troglodytes and bandits (type A, 20.1 gp/lb). The treasures balance coin volume with gems, jewelry, and platinum in a way that converges on the same efficiency band — roughly 5 to 20 gp/lb.
The most noticeable member of this group is the dragon. Type H — exclusive to the six dragons in the bestiary — has only 8.0 gp/lb, virtually identical to a gnoll lair, and well below the dwarves and medusa sharing its group.
B/X really is a game about killing dragons: few things make you richer faster than finding a sleeping dragon on its hoard!
The problem is carrying it... Type H includes 50% chances of 1d100×1,000 silver coins, 1d4×10,000 electrum, 1d6×10,000 gold, dozens of gems and jewelry, and a handful of magic items at the top — producing an expected weight of ~6,180 pounds, more than an adult African elephant. The dragon hoards incomparably more, accumulated over centuries, mountains of low-value coins with rare items buried somewhere in the middle.
Group 3 — Value-dense treasure
Types U, V · average ~92 gp/lb
OSE call these two types "group treasure".
Type U (66.5 gp/lb) covers a sprawling list of apparently unrelated creatures: acolytes, normal humans, bears, great cats, giant lizards, bandits, pirates, merchants. What they share is that their treasures are light and proportionally rich in value per pound, with small chances of gems, jewelry, and magic items that punch far above their weight.
Type V (121.9 gp/lb) the best "pound-for-pound" treasure assigned for monsters belongs to the cave bear, the sabre-tooth tiger, the gelatinous cube, the halfling, the medium, the noble, and the veteran. Silver, electrum, gold, platinum, gems, jewelry, occasional magic item — in quantities so small that the total weight is nearly negligible, but the composition so clean that almost every ounce counts.
Why do wild animals have such great treasure? The most common interpretation in the OSR community is that these are the remains of what the animals ate — previous adventurers, merchants, unlucky travelers. The gelatinous cube dissolves organic matter and low-denomination coinage, leaving behind only what's worth carrying. Apparently monsters do not eat copper and silver, maybe because it is worse for your health...
BTW, here is an odd comparison. A fight with a 4 HD black bear is not a great deal when a 4 HD gargoyle will give you almost ten times more treasure — though that treasure weighs more than 100 times more.
This assumes both treasure are in their lairs; since the treasure is not individual, we can also assume that a group of gargoyles will be twice the size of a group of bear in the wilderness. The gargoyle's treasure is still better because of Pareto.
Pareto in the dungeon
Vilfredo Pareto observed in the 19th century that 80% of wealth belonged to 20% of the population, a power law that repeats across complex systems. In any mixed B/X treasure, if the adventurer ranks items from highest to lowest gp/lb and starts carrying in that order, the first 20% of the weight typically delivers between 60% and 80% of the total value.
A minimalist version?
This kind of pointless complexity is one of my least favorite aspects of classic D&D. Twenty-two treasure types, five coin denominations, weights, probabilities, magic item subtables — all of it rewarding spreadsheet thinking more than adventure. Which parts actually make the game more interesting?
The analysis suggests the answer is simpler than the tables imply. Strip away the unassigned treasure types and three groups cover everything a DM actually needs.
The bottom tier — around 1 gp/lb — is for savage monsters and humanoids, undead, and the creatures that accumulate wealth without understanding it: kobolds, berserkers, bugbears, ghouls, wights, harpies, lycanthropes, ogres, owl bears, gargoyles. Their treasure is dominated by copper and silver, heavy for what it's worth.
The middle tier — around 10 gp/lb, roughly equivalent to its own weight in gold — covers organized humanoids and higher monsters: goblins, gnolls, hobgoblins, orcs, elves, dwarves, medusa, doppelgangers. This is the baseline of the game's economy, the chest-full-of-gold-coins standard. Dragons sit here too, which is the most counterintuitive result of the entire analysis: a dragon hoard is not more refined than a gnoll's, just incomparably larger. Moving it is the adventure.
The top tier — 50 to 100 gp/lb — belongs to the chests/lairs of wealthy individuals: merchants, nobles, knights, pirates, acolytes, high-status NPCs. Gems, jewelry, platinum, the occasional magic item, almost no dead weight.
A clean minimalist rule falls out naturally: 1 gp/lb for savage monsters, 10 gp/lb for organized humanoids and most monsters, 50–100 gp/lb for the hoards wealthy and powerful. The 100 gp per HD heuristic handles value; these densities handle weight. Between the two, any treasure can be improvised in seconds without opening a table.
And, again, since few creatures are travelling with more treasure that they can carry, a sufficiently large group may have a few leaders (with extra HD) carrying more valuable treasure, including magic weapons. Likewise, a high-level NPC will likely carry valuable stuff. This has an interesting side-effect of naturally making high-level PCs uninterested in pillaging anyone but the highest-level foes, which I really like.
Individuals will only carry a fraction of the treasures on themselves. Like in the originals, maybe give them a handful of coins (say, 3d6), with total value of around 1 GP per HD (meaning everyone carries silver, mostly, with some copper or gold). IF they have no lairs — for example, travelling nobles and merchants — they must carry all their treasure amongst themselves. Assume few would carry enough treasure to slow them down, so the either have horses, donkeys, and so on, or a few valuable gems.
As for wild beasts carrying high-value treasure because they've eaten adventurers — it's a fun image, especially for the gelatinous cube, but it doesn't hold up. Such creatures would devour goblins and peasants far more often than merchants and knights, which would predict copper-heavy loot, not platinum. Simpler to say wild creatures have no treasure at all (except in lairs) — or assign a value to their pelts and parts instead.
Which leaves the question of lairs. As a rough heuristic, we can try using the same 100 gp per HD we used for most creatures. Honestly, I'd divide the treasure of wild creatures by 10 or something similar; a lion's den is simply not that full of valuable treasure.
Dragons are a special case and should stay that way. They are the only creatures that genuinely deserve complex, idiosyncratic treasure — it fits their mythological origins, their centuries of accumulation, their sheer scale as opponents. Keep them as written. A dragon hoard should feel different from everything else, because it is.
Finally, to put some variety back without restoring the full complexity: a couple of short random tables for special cases.
Maybe this is easy to do with a dice pool - roll 1d10 for each 100 gp expected. In the main table, poor creatures get -1, rich ones get +1. Add other types of coins if you want. For example:
Main table
| d10 | |
|---|---|
| 0–1 | Copper coins |
| 2–4 | Silver coins |
| 5–7 | Gold coins |
| 8 | Platinum coins |
| 9–10 | Special (roll below) |
Special — d10
| d10 | |
|---|---|
| 1 | Platinum coins |
| 2 | Gems |
| 3 | Magic item |
| 4 | Potion |
| 5 | Scroll |
| 6 | Map (treasure, dungeon, or secret route) |
| 7 | Art or jewelry |
| 8 | Single incredible gem (x10 value) |
| 9 | Document (deed, letter of credit, incriminating secret) |
| 10 | Pelt, trophy, or caged creature |
This way you can keep the treasure "mini-game" if you want, and even have some rare events... A kobold carrying a gem he doesn't know the value of. A pirate ship with a crate of stolen art. The skeleton of a hero in the smilodon's lair, still gripping his magic sword. Treasure maps, unidentified potions and forgotten artifacts. These exceptions are what make individual encounters memorable — and they work precisely because the baseline is simple enough that the exception stands out.
I'm not 100% happy with this yet, but it is a start.