"Each person can only exchange up to 70 Galleons," the goblin explained reluctantly. "But since you're with Professor Dumbledore, I can make an exception and extend your limit to 100 Galleons. That amounts to 505 pounds, including a 5-pound handling fee."
"So little?" Tom frowned in dissatisfaction. "Professor Dumbledore told me before that the usual exchange is around 200 Galleons."
"Times have changed," the goblin said with a sour expression. Goblins hardly ever looked kindly on those who couldn't bring them profit, but with Dumbledore present, he was more patient and polite.
"Muggle money doesn't help us much. We can't spend all the pounds we exchange every year, so Gringotts strictly controls the amount. But don't mistake this for too little—the money will be enough for you to get through a year at Hogwarts."
"Two hundred Galleons? That was the price fifty years ago. Is Muggle money worth that much now?"
Dumbledore looked a little embarrassed. "The last time I brought students here was over forty years ago. I'm not fully up to date with current rates…"
Tom couldn't help but roll his eyes. Over the past four decades, prices in the UK had skyrocketed, more than doubling several times. In that light, the goblins still showed some mercy on the exchange rate.
"Professor, could you lend me some money?" Tom seized the moment, pushing his luck.
"I don't think this amount will be enough for me to buy all the books I want. I can repay you in pounds—of course, if you prefer, wait until I graduate, and I'll return the loan in Galleons, with interest."
Tom figured Dumbledore would favor the second option, reasoning that the old wizard should have passed on by the time Tom graduated, making it a harmless investment.
"Muggle currency doesn't hold much use for me. Then let's do that—wait until you graduate to pay me back. I look forward to that day."
Dumbledore was never reluctant to assist his students, especially when the misunderstanding stemmed from his own ignorance. He readily agreed.
"Wait here for a moment. I need to fetch some money and take care of a few personal matters," Dumbledore said, then followed a goblin deeper into the underground vaults.
Tom's heart skipped a beat. Could Dumbledore's "personal matters" involve retrieving the Philosopher's Stone? He recalled that originally, Hagrid was supposed to handle it, but circumstances had changed due to Dumbledore's unexpected visit.
Although curious, Tom dismissed the thought and turned to ponder the possibility of exchanging gold for Galleons.
According to current exchange rates, five pounds could buy about 0.8 grams of gold, and 10 grams of gold equaled roughly one Galleon. That made the effective cost around sixty pounds per Galleon, over twelve times more expensive than using pounds directly.
Despite being called Galleons, the coins weren't actually gold but made of some magical metal—what exactly, nobody seemed to know.
Faced with this terrible exchange rate, Tom immediately abandoned the idea. His family fortune couldn't afford such squander. Let the magical world handle its own economy and expenses.
After about half an hour, Dumbledore reappeared in Gringotts' lobby carrying a key and a small bag.
He handed both to Tom. "Here are your 100 Galleons. I've also rented a vault for you, which already contains 600 Galleons."
He added kindly, "One hundred Galleons per year. I hope you'll budget wisely."
"Thank you, Professor. I'll make good use of your generosity."
Tom was secretly impressed by Dumbledore's largesse. Eight hundred Galleons in total was enough to live comfortably until graduation, so long as he refrained from splurging on luxury items like flying brooms or custom clothes.
The old man blinked, sensing something odd about Tom's words but couldn't pinpoint why—so he quickly changed the subject.
"Let's go, Mr. Riddle. We have much to buy."
They left Gringotts and set off to purchase uniforms, textbooks, scales, crucibles, and other essentials for the coming term. With Dumbledore accompanying him, the shopkeepers greeted them politely and extended some discounts.
Even so, they spent more than forty Galleons on their shopping trip—without the discounts, it would have been over fifty.
When they later added in the cost of Tom's wand, the fixed expenses exceeded sixty Galleons.
According to Gringotts' standards, Tom was left with just a few Galleons to spare. It seemed manageable for a semester, especially since food and accommodation at Hogwarts were free, but finances would be tight.
Compared to Ron Weasley, who was rumored to get less than one Galleon pocket money annually, Tom was already considered wealthy.
Tom's eyes lingered on many expensive books he couldn't afford yet; he planned to buy them slowly over time.
With Dumbledore nearby, Tom felt a bit self-conscious about his spending, worried people might overinterpret his choices.
Moreover, he had no intention of stopping at 100 Galleons he intended to draw from his vault funds as needed.
"Why isn't there some kind of system?" Tom muttered, lamenting his bad luck as they approached the final stop of the day: Ollivander's wand shop.
Without a system to guide him, his only choice was to study hard and grow stronger. Lying down was not an option.
After opening the door, Tom held his breath instinctively, wary of any dust disturbed from decades of settling.
"What a rare visitor, Albus," came a soft voice from between tall shelves. An old man emerged.
"The last time you visited my shop was forty-eight years ago, also in the summer," said the man.
Dumbledore smiled helplessly. "Garrick, stop showing off your excellent memory. It only makes me crazy with envy."
"Haha, my memory's only good when it comes to this shop and magical wands," Garrick Ollivander teased as he stepped forward.
He warmly embraced Dumbledore, then turned his gaze slowly to Tom.
"So, what's your name, lucky little wizard? How did you come to have Dumbledore as your guide?"
"Tom," said the boy simply.
"Tom Riddle," he added quietly.
Plop—!
Ollivander collapsed to the floor, staring at the boy with a stunned, blank expression.