The problem being that steel is as cheap as dirt, comparatively. Unless the medieval armorsmiths of Dragonlance are using more steel (and I mean much, much more steel) than WWII nations ever used, this explanation is just silly.Simple. In an age where conflict is common, weaprons and armor are rife. Existing steel has been forged into useful items. Steel coins are rare (they’d be more useful fashioned into weapons or armor) and they represent potential (you can have them refashioned into the arms or armor you need) and oaths (“I pledge my steel to you“, I.e. - I may not be good at fighting myself so I’m turning my steel over for you to defend me in return for the goods or protection I need”).