One of the first questions a newcomer asks is usually "What are the Gold Coins for?" followed immediately by "How do you rise through the ranks?" Funnily enough, the answer is the same to both questions.
So here's an explanation of the ranking system and how it all works.
Ranks
Ranks are a way of showing how involved you are in the One Ring community but give absolutely no benefits or additional privileges to members. The are just intended as a bit of fun and nothing more at this stage.
Rank Titles
There are 6 regular ranks but they are named differently for each race or region. You select a race when you register, or can change it in your profile and the rank titles will change to suit the race you've selected.
Achieving Ranks
Each rank requires 12 points, represented by icons called 'inventory items.' Once you have all 12 items, you have reached the next rank.
Inventory Items
These are a series of small icons that represent various items you need to gain the next rank. As stated above, there are twelve for each rank, and you can purchase them with 'Gold Coins.' At the moment, the items play no special role on the site and have no special meaning at all. However, at some time in the future, we may introduce some special items that give bonuses and special privileges, but not yet, my preciousss, not yet.
Gold Coins
Each user starts off with 2 gold coins and they can either use them to purchase inventory items, or donate them to other members as a way of thanking them for their help (or whatever).
The moderating staff (known as Ringwraiths here) can reward members with gold coins also. Rewards are usually for helpfulness, news items, and other community-spirited behaviour.
Gold coins can be earned in other ways too: by winning competitions, by donating to the website, by successfully having an article published in the library(we're pretty picky here, so it has to be very good to be published), and by earning a place in the Hall of Fame.
I hope that answers some of your questions.
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itll take you a while though, at the moment my items are 4 coins each and im on rank 3 
