Originally posted by PakaNoHida:

There are a lot more resources that give off light and do not need a gold investment.

Examples - Dragon Eggs, Yellow Mushrooms

I just tried putting the circlet on a armor stand as suggested. You really need to try it to see just how different it is from trying to use yellow mushrooms or Dragon eggs. It won't be as good as a dragon egg to mark the water approach to the pier as I originally thought but well worth the cost in my book for what else I will use it for. And it isn't like there is much else to use the gold on in the game right now anyway once you buy a couple belts (i always keep a spare on hand for corpse runs) and the mats for Frostner and the obliterator.

Only thing I'm not happy about is even at 10 nails per ingot I'm going to I'm going to need a lot more iron for all the armor stands i'm going to be building now :)