There are two methods of deciding what treasure is in the possession of monsters: rolling randomly and referee choice.

Monster listings note which treasure type is present in the creature’s lair and which it may carry on its person. See Treasure Types for details on how to roll treasure according to a treasure type letter code.

If the value of the randomly generated treasure is significantly above or below the average value of the treasure type, the referee may adjust the results manually.

The referee may wish to choose treasures appropriate to the monsters and the PC party. As treasure is the main source of XP (see Awarding XP), the referee should carefully consider treasure placement. The following procedure is recommended:

1. Consider the size of the adventuring party, the levels of the characters, and the XP they need to go up in level.
2. Decide how many experience points the treasure hoard should provide if the party successfully acquires it.
3. Place treasures whose total value matches the determined XP total.

When using this approach, the referee should ensure that the treasure is guarded by sufficiently powerful monsters. Adventurers should have to earn this reward!

It is recommended to determine the contents of large treasure hoards (e.g. treasure types A–O) in advance of play, rather than when a session is in progress. This gives the referee time to consider how monsters might conceal and guard their treasure, as well as if they would make use of any of the items against the PCs. For example, a monster leader might wield a magic weapon that is part of their hoard.