NOVEL NEXT Chapter 6: Gringotts
Professor McGonagall and Harry followed the goblin named Griphook to a side door, leading to a narrow stone corridor illuminated by torches. Their journey led them to a room with small railway tracks, and Griphook whistled, summoning a cart hurtling down the tracks toward them. They swiftly climbed in, and off they went, racing through a maze with breathtaking speed.
The twists and turns left Harry disoriented, occasionally catching glimpses of stalactites, stalagmites, and even what seemed like flickers of fire. He contemplated the formidable protections that must guard the goblins' treasures from prying wizardly eyes.
Abruptly, the cart came to a stop beside a small door in the passage wall. Griphook declared, "Vault six hundred and eighty-seven, Potter trust vault." With that, he unlocked the door, and a burst of green smoke billowed out. As the smoke dissipated, Harry couldn't help but gasp at the sight within.
The vault held mounds of gold coins, columns of silver, and heaps of little bronze coins. Intrigued, Harry turned to Griphook. "Griphook, I would like to know how much money is in this vault," he inquired.
"Wait a moment, Mr. Potter," the goblin replied. "Currently, the balance in this vault is three thousand galleons in total, which is divided into two thousand five hundred galleons, six thousand eight hundred sickles, and forty-nine thousand three hundred knuts," Griphook stated.
Quickly doing the math, Harry exclaimed, "So, seventeen sickles make a galleon, and twenty-nine knuts make a sickle." The astonishing wealth surrounding him suddenly took on a tangible value.
"What is the current exchange rate between Galleons and Pound Sterling so I get an idea of how much this is in a currency I am used to?" Harry asked.
Griphook was evidently impressed with the young wizard's quick mind.
"The current exchange rate is set by the Ministry of Magic at five pounds to a Galleon," Griphook replied.
Harry sensed an underlying message that the goblins weren't particularly fond of the exchange rate. However, for him, it meant he had the equivalent of fifteen thousand pounds at his disposal for now. He was yet to discover what lay in the main family vault.
"As this is my trust vault, which type is it? I know of three types. Type one is a fixed amount of money that will have to last me until I get access to the main vault. Type two is a refilling type that returns the balance of the vault back to the starting amount on a fixed date, and type three would add a certain amount either monthly or yearly," Harry inquired.
Professor McGonagall was quite impressed. It was evident that Harry knew a lot about money and finances.
"It's a type two. The maximum amount in this vault is three thousand Galleons. The date of return to that amount is the thirty-first of July, your birthday," Griphook answered.
"Is there a way to keep informed about my finances on a regular basis, and if so, how much would it cost?" Harry asked, always mindful to inquire about the cost of things.
Griphook gave Harry an eerie grin. This was not your average wizard. It was clear that Harry possessed knowledge about financial management.
"You can sign up for a ledger that is self-updating. It's a fee of fifteen Galleons a year. The other possibility is quarterly statements by owl post for one Galleon a year," Griphook explained.
"What are the advantages of the ledger? I assume that there is a reason for the massive difference in the fee," Harry wanted to know.
"Yes, there is a difference. It would probably be best if you made an appointment with Corpnik, the account manager for the Potter family. He will be able to answer all the questions you have and inform you about investments and other services Gringotts offers," Griphook informed him.
"I will do that. What kinds of methods for safe transport of money are there? It would hardly do to run around with a big bag of coins. The possibilities to be robbed are too big," Harry asked.
"Yes, Gringotts offers several methods to protect your gold. There are bottomless bags that look smaller on the outside than they are on the inside."
"They are standardly included in the contracts for opening a vault at Gringotts. Then there is a wallet for high-profile customers. You only have to state the amount and the currency you wish to have, and the wallet will supply you with it. It comes at fifteen galleons a year," Griphook said.
"Do you have something like a credit card? It is a means of payment in the muggle world which will transfer the amount you have to pay directly from your account to the account of the shop you bought something," Harry explained after interpreting the look on Professor McGonagall's and Griphook's faces.
"No, we don't, but it sounds interesting.
Would you be willing to explain the principle to Corpnik when you have your appointment with him? If it is a common form of payment in the muggle world, there could be a chance to make more profit for Gringotts if we offered it to muggleborns," Griphook said.
"I will do so. I can talk about a share of profits with him if the idea is profitable then as well," Harry answered.
Griphook nodded. A wizard who knew how to see profit. Very interesting. He would inform Corpnik before the appointment.
"For now, I will go with the bottomless bag. I will talk with Corpnik about other methods when I have my appointment," Harry said and took one of the bags Griphook pointed out hanging on the side wall of the vault.
"Professor, how much will I need to get a basic kit to get a good overview of the magical world?" Harry asked.
"You should take out about fifteen galleons if you only want to buy the books. For anything more, like school uniforms and a wand and so on, you would need about thirty-five galleons if you keep to the bare basics that are on the list you got with your acceptance letter."
"If you want to have some spending money and get some more things you might like I would recommend fifty galleons. Ten of them you should take in sickles and knuts," Professor McGonagall advised.
Harry nodded and scooped up some coins into the bag. He kept it to twenty-five galleons. He would get the information he wanted and then decide. For now, he was inclined to accept the offer to learn magic at Hogwarts.
"How will the matter of school tuition be settled?" Harry asked, remembering how much a good school normally cost.
"The school tuition will be paid from the Potter family vault for you. It is about seven hundred fifty galleons a year," Professor McGonagall explained.
Harry nodded, calculating the equivalent in pounds. It was about the same amount the better private schools cost. Harry left the vault, and Griphook closed it.
They took back the cart, and Griphook led them to the counter to arrange the appointment for Harry with his account manager.
"Very well, Mr. Potter, Corpnik will await you on the thirty-first at ten in the morning," Harry was informed.
"Thank you," he answered. "Goodbye."
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