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Game hasn't been out very long and there's a good gold exploit already. If you're going to take advantage of it, do it quick before Bethesda patches it. Very similar to the exploit in Oblivion for killing Darion in the Imperial City. The exploit is as follows:
*Heading along the path from Winterhold to the Shrine of Azura you will come across a location called Sightless Pit. Head to the right of it and up the hill, taking the first left that you can without hitting rock. You will come across an altar. Several skeletons will come to life and attack you. After killing them, check their corpses for a book called "The Gates of Oblivion" which is worth 50 gold. After looting it, the game will tell you the corpse is empty, but upon reopening you will find another copy of the book. You can loot it an infinite number of times and sell it for a minimum of 17 gold each (unless Speech skill is higher). I looted this book A TON of times to power level my smithing. Riverwood Trader and the Whiterun general store each have about 750 gold on hand which regenerates daily, so waiting 24 hours lets you sell 44 books to each per day gaining almost 1500 gold in the process. Rinse and repeat.*
Combining this exploit with the above mentioned power level smithing technique, I leveled my smithing to 90 and built full daedric armor which I upgraded to Epic. The entire process took 3-4 hours. Power leveling my smithing bumped my level up significantly from 9 to 18. I recommend repeating the exploit so you can afford to make gear that will be effective for your level. Currently sporting Epic Daedric armor with 2 Epic Daedric swords with under 10 hours of gameplay.
On a side note: power leveling your smithing is an extremely expensive process. The 3 vendors I used were the Skyforge blacksmith, the War Maiden (Whiterun) and the Riverwood blacksmith. All are conveniently located near general stores (for selling of *the duplicated book*). Each carries more than enough leather, but Iron Ingots are more tricky. The Riverwood smith only carries around 10 and each Whiterun smith gets 18-24 in stock per day.
The total gold I had to spend to upgrade my Smithing to 90 was in the range of 10,000-15,000 gold. If you plan on doing it legitimately, I would recommend completing high-reward faction questlines such as the Thieves Guild or the Dark Brotherhood first. The final quest of the Dark Brotherhood supposedly rewards you with *20,000 gold*
*Heading along the path from Winterhold to the Shrine of Azura you will come across a location called Sightless Pit. Head to the right of it and up the hill, taking the first left that you can without hitting rock. You will come across an altar. Several skeletons will come to life and attack you. After killing them, check their corpses for a book called "The Gates of Oblivion" which is worth 50 gold. After looting it, the game will tell you the corpse is empty, but upon reopening you will find another copy of the book. You can loot it an infinite number of times and sell it for a minimum of 17 gold each (unless Speech skill is higher). I looted this book A TON of times to power level my smithing. Riverwood Trader and the Whiterun general store each have about 750 gold on hand which regenerates daily, so waiting 24 hours lets you sell 44 books to each per day gaining almost 1500 gold in the process. Rinse and repeat.*
Combining this exploit with the above mentioned power level smithing technique, I leveled my smithing to 90 and built full daedric armor which I upgraded to Epic. The entire process took 3-4 hours. Power leveling my smithing bumped my level up significantly from 9 to 18. I recommend repeating the exploit so you can afford to make gear that will be effective for your level. Currently sporting Epic Daedric armor with 2 Epic Daedric swords with under 10 hours of gameplay.
On a side note: power leveling your smithing is an extremely expensive process. The 3 vendors I used were the Skyforge blacksmith, the War Maiden (Whiterun) and the Riverwood blacksmith. All are conveniently located near general stores (for selling of *the duplicated book*). Each carries more than enough leather, but Iron Ingots are more tricky. The Riverwood smith only carries around 10 and each Whiterun smith gets 18-24 in stock per day.
The total gold I had to spend to upgrade my Smithing to 90 was in the range of 10,000-15,000 gold. If you plan on doing it legitimately, I would recommend completing high-reward faction questlines such as the Thieves Guild or the Dark Brotherhood first. The final quest of the Dark Brotherhood supposedly rewards you with *20,000 gold*