I've *never* really found a good source of information about the L1 member rating in the Coin Of Magic Quest. But last night I finally hit it on one of my characters myself and thought I'd cover this elusive info myself.
First off though, a recap. The Coin of Magic is a L40+ quest that you start in Hunters Village. Various mobs 'drop' coins (Regular Inventory Items, but the go there instantly like other quest items.) and you can use them to trade for various items. There are 3 'levels' for membership and each one gives you different items you can trade for. You also need a L1 membership to start the quest that let's you trade for A grade weapon recipes. (Low and mid)
About the 'coins' themselves. Mobs only drop 3 'basic' coins. Silver Unicorns, Blood Medusas and Gold Wyverns. BUT, only the A grade recipe trading uses these lowest level coins at all! Instead, what you have to do is trade with other 'Coin Collector' NPC's for 'higher level' coins and use those in trading instead.
Each Membership level has a slightly different set of coins you can trade for with those members. And you need a set number of coins from that level to 'upgrade' your membership to the next level.
For a L2 Member ship you will need 20 of each of the basic coins (traded up to the L3 coins) to upgrade. To reach L1, you will need 200 more of the basic coins, for a total of 220 of each of the basic coins to go from L3 to L1 member. (Coin drops are low enough that even this can take some time to gather.)
Next are the coins you can trade for at each level, and how many of the basic/previous coins you need for each.
Note, for all the coin 'trading' listed above, I used the 'set trading value' which is 1:10 for lower grade coins going to higher level.
All NPC's also offer a 'game' which allows you to 'bet' coins in order to gain more...
The odds are so poor however, that I consider anything other than trading at the 'set' rate to be a waste of coins. (The 'game' was nerfed some time ago in a previous chronicle.) There may still be a writeup on the game rules/return somewhere out there, but I leave that up to you to look for and decide if you really want to bother with gambling for coins.
It's a nice quest to get the A grade recipes. You need Coin of Magic level 1 membership or else you cannot get the 2nd quest.
Apart from that, I don't think it's feasible to drop all the necessary coins yourself, so you just buy them from others.
So far, other than raising your level to be able to get the Kail's coins and the A recipes, there are maybe 3 of those rewards that are worth the effort required. (Demon's Gloves, Demon's Boots and FP Helm.)
The coins are far too rare for anything else really. Even if you were able to buy all of the coins you need for the weapons at L1, it would still be cheaper to NPC, Lux shop and/or Mammon everything else. (ex. 9.9M for a dark screamer if you buy at 2.5k per coin.)
As it is now, it took me multiple chars to get enough coins just to get L1 membership. And that was with targetting mobs that dropped the coins extensively.
I'm farming the coins, just for the sake of farming them. I have little else to do when I hunt, so I'm okay with just farming coins until my eyes bleed.
But I'm doing it for one specific recipe from the Kail's Coins quest.
furor elders and bugbear high warriors (around ivory tower) drop silver unicorn, and timak orcs west of oren drop blood medusa...
gold wyverns drop in dragon valley, think it was from headless warrior... herbs don't drop there, so i havn't spent much time there.... need to find a good place for gold wyvern, as I have 20+ of the others, and wanna move to lv2 member :|