I realise this is all highly disputable and reflects my personal view on the metal. However I thought it best to get something up here that can be used while the actual details are hammered out on the list.
The theory I have used fits in well with the game at the moment and as much as I can find about the metals from scribe notes and games I have been on.
Mandos 12:49, 16 Oct 2006 (NZDT)
Mithril and Truesilver Value
Truesilver is valued at 40,320/lb. With Silver at 320sp/lb, this makes the Mithril component valued at 1,000,000/lb, plus 13sp/lb of minting cost. If this is a fair way to work out the cost, then mithril is quite valuable. - Andrew.
It depends on whether we actually use the weight in metal as the value of the coin. Since the game history appears to indicate Seagate silver has "slightly less silver content than seawater" (a phrase often repeated), that would indicate we do not use the actual weight in metal as the coins value.
Thus we can work out a value for the metal independently of the coin value. The same applies to silver.
If this isn't the case and coin value matches the value of the metal by weight, the value of Truesilver is likely to be higher than the values of the component metals due to the change in it's usefulness based on it's altered maliability. Again making a straight weight valuation erroneous. Mandos 10:23, 1 Jun 2007 (NZST)
The Player's Guide has the price of various ingots. All ingots are at the "coin valuation" - i.e. 320 sp to the pound, 1 pound of silver costs 320sp. Technically, there should be some sort of minting cost, making the coins more valuable, and some alloying, making the coins less valuable. Looks like they cancel out, which is simple and thus good. If we want mithral to have some sort of price/valuation per pound (and I'm not convinced), then either truesilver is worth 10 times its material components, thus it must be HARD to make, or mithral is worth 100,000's per pound, even in ingot form, which causes problems. I'd suggest that this 4% mithral content of TS is the problem. Call it 75%, then mithral is worth ~54,000sp/lb, or 75% and it costs so much to alloy that mithral is also worth exactly 40,320sp/lb. This is simple, so we can forget about the alloying.
Or, my preferred way of relating Mithral and Truesilver. Carbon comes in different allotropes - Coal, Graphite, Diamond, Buckyballs. Tin changes allotrope at 13C, and Iron at 906C. Plutonium has 7 allotropes, with different properties. Mithral and Truesilver are different forms of the same element. Magic and/or dwarves can switch it between these forms - maybe it requires serious heat, certain catalysts, prayers to the allotrope god - anyway, they are the same but different. Anyone who can work actually mithral can convert TS to it relatively simply.
--Andreww 03:16, 3 Jun 2007 (NZST)
Making the alloy have a high Mithril content works for me.
I will edit the number for now and we can continue the discussion on other solutions. --Mandos 11:32, 18 Jun 2007 (NZST)