The Harry Potter series captures the imaginations of children and adults the world over and will remain a classic for future generations. If you're a fan, you may wonder: If wizards have magic powers, can they just conjure up money?

How does money work in the world of Harry Potter?

Wizard currency

Gringotts Bank
Craig Russell/Shutterstock
Dragon protecting the gold under Gringotts Bank

J.K. Rowling purposely wrote a rule in her books that only the Philosopher's Stone can create gold. (In the U.S. version, the name was changed to 'Sorcerer's Stone'). Straight away, we know that even for wizards, money doesn't grow on trees.

The metal coins used by wizards are bronze Knuts, silver Sickles, and gold Galleons. There are no paper dollars here — everything in the wizarding world is made from precious metals. In the books, we are told that one Galleon is equal to 493 Knuts, or 17 Sickles.

Could you afford to live in the wizarding world? According to the Harry Potter Wiki, one Galleon is equivalent to roughly 5 British pounds, or $6 U.S. When Harry gets all of his fancy brooms to fly on, we can only speculate that they cost nearly as much as a car.

A butterbeer is roughly $3, which seems pretty reasonable.

Continued on NEXT page...