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How Did the Grangers Convert Their Muggle Money - Harry Potter Explained

Harry Potter Theory EXTRA 5 views

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wouldnt most wizards make more money in a mugglle job?
Comment from : @flooop12

Its funny i was doing one of those AI chats of a harry potter role play, this one question was brought up by my character how the ai solved it was the cashier using a spell that created a currency exchange
Comment from : @mlpfanboy1701

Perhaps some of the £ channeled through Gringotts gets used to compensate the British Prime Minister for any hardships the muggle world endures due to troubles in the magical world spilling over like the wizarding wars or Sirius Black on the loose
Comment from : @CO84trucker

I find it hard to believe that 1 galleon equals £5 How small are these gold coins 1 gram of gold would cost you over $100 US dollars and that's about the size of my pinky finger nail in gold
Comment from : @Nathan-ft7if

Been a fan for years I been wondering this for a while not stories u have a video covering it Awesome 🙏
Comment from : @GG_OZA

Nope Regarding muggles, the exchange rate means nothing What really matters is the value of gold per ounce All a muggle would have to do is melt galleons down into ingots, and they have a fortune in today's market
Comment from : @LyleFrancisDelp

The W&Ws might need to change the money back to the muggle money and use in the muggle shops and stores around London and the UK I'm sure that there are some muggle things that the magical people might like to have
Comment from : @vortexgen1

I believe they probably have squibs launch the money into muggle communities
Comment from : @dmr14wizkid14

How about Gold itself Use gold bar covert to Galleon?
Comment from : @Ancaryvan

I could believe that they could also lay the muggle money aside in a normal bank account and that's how the wizarding money is supported partly brbrIf you find something about this topic, maybe you could make a video about how Galleons, Sickles and Knuts hold their value (as I think the material they're made of is more valuable than the currency itself
Comment from : @borislicina455

Wizards do occasionally use muggle money Like when Mr Weasley rented a campsite from a muggle Or when they make occasional uses of muggle public transportation So I'd imagine that the goblins simply keep the money and trade it for wizard money whenever wizards need some muggle currency
Comment from : @hpos1086

I actually think there are reasons wizards and witches would want muggle money Muggle borns with wizard jobs would need muggle money when visiting relatives In fact I'm surprised Harry didn't get muggle money to have a better summer
Comment from : @kyriepitcher355

Money is money Goblins would be inclined to keep ALL money, just for its perceived value After all, gold, silver and bronze are just as worthless We only give them value based on our own subjective worth
Comment from : @RIBill

There are a significant number of muggles who're aware of the wizarding world The family members know of course, and the Prime Minister of the UK corresponds with his counterpart in the Ministry of Magic, so there are probably mechanisms in place brbrThe magical population is a lot smaller than the non-magical population Rowling once said there only 3,000 wizards and witches in the UK, but I don't know about that, she's not the best with numbers
Comment from : @howardmctroy3303

They use muggle money to buy gold to make wizard money
Comment from : @YarDarkwood

100 The Goblins just traded the Muggle currency back into trading goods which interest both worlds -- and that is how they fix the exchange rate
Comment from : @Thelaretus

money > buy more metals> mint more coins
Comment from : @luisalvarado6659

How did they get into Diagon Alley? Even considering Hermione is a witch, how did she know what stones to tap? And with what did she tap them? But I never really thought about muggle money in the wizarding world I just thought it was melted and reused
Comment from : @trolletuva

If you ask me There are universal products that every society needs Such as Housing and food Since food is the one item wizards can produce via magic There must be a source of produce, meat and animal products Products that are most likely obtained from muggles and thus a demand for muggle money
Comment from : @josealbreyes

I think it would get circulated back into Muggle banks It can’t be used to make more wizard currency
Comment from : @EricasTouch

Here is a question why is argus filch the caretaker? I mean molly said the previous caretaker cursed them, so he has magic In legacy moon has magical abilities, so why is argus, a squib, care taker? He's not qualified and he's a dick, maybe because he's so under qualified
Comment from : @logannichols5848

My guess was always that they used it for transactions on the muggle markets (love the idea of this being done by Squibs to the muggle side of things) but the more I think about it, the broader I believe this might be applied Perhaps it was also used to be exchanged to certain magical companies who in turn used it to buy certain muggle items, prior to magically enhancing them further I'm in particular thinking of photo cameras but other items might be procured as well I see a lot of people talking about buying gold and silver and that's a fair guess but perhaps it can also be used to buy food items like vegetables and meat (we rarely hear about magical farmers and husbandry of regular animals, so maybe there are buyers who buy in bulk with pounds and re-sell them to the magical community)
Comment from : @BjornV1994

I would also expect they have maybe squibs or muggle born wizzards with connections to the muggle world to exchange it to Gold and Silver which has a value in the wizzarding world
Comment from : @aquamarin4851

IDK if youve done a vid on this: but what if a student couldnt afford to go to hogwarts? Would they be forced to attend somehow? Can you choose not to go there if you get the letter?
Comment from : @deserabailey8500

Muggle money has a use for wizards/witches The Ministry has various servants, but not all I'm sure spend 100 of their time among the magical folk Such excursions into muggle society to protect hunt a supernatural creature or deal with a curse or dark wizard will mean a wizard will need muggle money Knowing this the Ministry has to gain access to muggle money and can via goblin banking This also allows goblins to profit as they can charge a conversion fee This conversion fee being in wizard standard brbrAlso, Wizards visiting muggle families will need muggle money and can convert wizard standard to muggle standard for a small fee brbrThe one thing you did not talk about is that a muggle with access to Gringots could convert muggle money to gold, take it back to the muggle world, melt it, and make a fortune
Comment from : @Relentlessfiction

This channel (and the main channel) bring me so much joy! You give life to the wizarding world by making it relatable Answering real actual questions about how things work I love it I love it I love it 💜 ✨
Comment from : @killxxhollywoodxx

I've often wondered about this very subject Wouldn't Harry and Hermione want to exchange their wizarding money back into British pounds upon reentering the muggle world at the end of term?
Comment from : @jkrause365

I would suggest that they used the muggle currency to purchase physical gold in order to make gallions
Comment from : @BornRandy62

They obviously transfiguration it into goblin snacks
Comment from : @thomasa8814

I have a theory (if you'll pardon the borrowing of the term) on that very subject I suspect for many years Goblins have been using the monetary exchange in part to invest in muggle banking enterprises, not least of which is purchasing shares in the gold held by the Bank of England and its interests By holding sway in the "gold standard" of the UK, they can extend their influence, particularly if they ever decided to "cash in" their shares (or threatened to do so should a piece of legislation that they viewed unfavourably were to arise) Goblins were instrumental behind-the-scenes in getting the Peel Banking Charter Act of 1844 through Parliament, the act which unified their currency and put them on the gold standard in the first place The assets they hold through Gringotts almost pales compared to what they have invested in various banking and governmental institutions throughout the UK and indeed internationally
Comment from : @StarGeezerTim

I believe as you do, however I think they have a Scib take the Muggle currency and buy pure gold and silver with it so that the Goblins can make it them into their own currency
Comment from : @bailatwerski2951

So first another repeat video from your main channelbrbut yeah being able to covert currency even between muggle and wizard currency isn't suprising even though I think it should be since wizarding money is made of silver and gold which should make the conversion rates sky high
Comment from : @digitaladventurer2142

😍🥰🥰😊🏞🏝🌐
Comment from : @melanievetter6211

I'm guessing when you have squibs like Mrs Figg living in the muggle world, they must get money from the magical world, so it must get transferred into sterling
Comment from : @davebirch1976

I have to admit, when you asked "What do you think?" I really hadn't thought about it which is why I like this channel because it makes me think on things I wouldn't otherwise Thanks!
Comment from : @ravenregards