money in middle earth

[Formendacil]

Originally Posted by A_Brandybuck

But I cannot find a reference to the suggested equivalence to the silver pennies of Eriador.

The Lord of the Rings, The Fellowship of the Ring, Book I, Chapter XI "A Knife in the Dark":

Originally Posted by J.R.R. Tolkien

Bill Ferny's price was twelve silver pennies; and that was indeed at least three times the pony's value in those parts. It proved to be a bony, underfed, and dispirited animal; but it did not look like dying just yet. Mr. Butterbur paid for it himself, and offered Merry another eighteen pence as some compensation for the lost animals. He was an honest man, and well-off as things were reckoned in Bree; but thirty silver pennies was a sore blow to him, and being cheated by Bill Ferny made it harder to bear.

I forgot, in my original reference to the silver pennies, that Butterbur also paid 12 for Bill, but I'm pleased to see that I was right about the number 18...