What are Steel Tokens in LOTRO?
And What Can You Spend Them On?

LOTRO Steel Tokens - What are they and where can I spend and exchange them?

During the LOTRO Anniversary Event, you will find a barter vendor who sells various things in exchange for Steel Tokens Steel Tokens. These are a separate currency type to the Anniversary Tokens Anniversary Tokens and Festivity Tokens Festivity Tokens. But what are Steel Tokens and how do you earn them? And, more importantly, what kind of goodies can you get your hands on for them? Let’s answer all those questions now!

How Do You Earn Steel Tokens?

Where Do Steel Tokens Come From?

Unlike all other currencies for LOTRO events, you do not earn Steel Tokens Steel Tokens from event quests or instances. Instead, this character-bound currency drops from enemies. This means you could decide not to partake much in the LOTRO Anniversary Event and, through normal questing and completing slayer deeds, you can earn them.

Which Enemies Drop Steel Tokens?

Although the official line is that these drop from harder foes, that is not actually true. Steel TokensSteel Tokens can fall from any mob – even grey ones. If you have the fly text shown on enemy defeat, you’ll see it flag up when one drops for you.

Where is the Vendor?

A better question would be where are the vendors? This is because there are many of them, dotted around Middle-Earth! They are called Keeper of Gifts. Given the method of earning Steel Tokens is from combat, it makes a lot of sense that you can exchange them without returning to Bree. Find the full list here on the Wiki!

What Can You Spend Steel Tokens On?

During the Anniversary Event, you can speak to the separate barter vendor to the default event rewards one. They have a range of cosmetics and other items to exchange for Steel Tokens. Unless something major changes in 2022, which in this case I doubt, there are no mounts (nor war-steed cosmetics) available for Steel Tokens.

Newest Steel Token Rewards

Steel Token Cosmetics

You can exchange some of your combat-acquired currency for cosmetics. Though it does make you wonder why, say Orcs doing carrying festival tokens?


Since the 2022 Anniversary Event, you can acquire two types of fireworks consumables for Steel Tokens:So you can always put the tokens to good use even if you don’t want any of the other rewards!

TL;DR Steel Tokens – Kill Enemies, Buy Stuff

That kind of sums it up. By defeating enemies, you can pick up Steel Tokens Steel Tokens. You can exchange these for various items, from cosmetic clothing, to carrying torches, to Marks Marks. I wonder what the 2022 Anniversary Event will bring in Steel Token rewards?

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