
What is the value of an Aurum? A politically explosive question in these post-Incarna days, when hordes of irate EVE players have already made themselves positively dizzy screaming their heads off -- "ZERO!" -- calling even for boycotts not only of the Noble Exchange but also of every player with the temerity to dress his or her characters in Noble Exchange fashions.
But the Aurum is not "worthless." It is in use and has a value, one that can be determined, day to day, as accurately as that of any other currency, despite the anger of those who refuse to use it and, more to the point, despite CCPs effort to peg its value to its PLEX price. For the value of a currency is not its price -- what one must pay in other currencies to obtain it -- but, ultimately, the value of what it can buy.
Today (2011.12.08), I calculate the average ISK market value of an Aurum to be 13,966 ISK in Jita. Its median ISK market value is even lower: 8,414 ISK. Yet CCP's currency manipulation scheme puts the price of an Aurum today at 131,286 ISK, at Jita PLEX prices.
In the discrepancy between these in-world market-determined values and CCP's currency manipulation scheme lies much of the sorry tale of CCP's misconceived venture into micro-transactions.
[Update: We've added a Market Indexes block to our right column, providing current estimates of the ISK value of an Aurum and the price of PLEX in Jita, as well as tracking two prices of interest with respect to Goonswarm's so-called "Interdiction" -- Oxygen Isotopes and Mackinaws. Expect adjustment of these and other topical indexes in the future.]