I just got the transmute spell and I'm curious....

To make smithing go a bit faster, I usually just take my extra Iron Ore and make Iron Daggers. With the left over Leather + Leather Strips, I make Leather Armor.

Now that I can turn Iron into Gold, I'm wondering if gold merchandise gives you more Smithing skill points over Iron Daggers. I realize that you need two Gold Ore to make a Gold Ingot.

Anybody know?

I'm not exactly sure but I do know that after the patch people have been having more luck pumping out jewelry than they are with Iron Daggers. Try it out and see what happens. Best way to figure it out really.

well,. i have not invested a lot of time in smithing but I could be wrong but... when you grind iron daggers, I think you loose a small amount of money with each dagger you sell, now, if you buy iron and sell back gold rings, you could make a lot of money, as well as improve not only smithing but alteration as well.