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Each bell has a real-world gold value of $5
How is this derived?
Quite poorly, considering the wiki states that the lowest denomination of Bells available in the game is 100 (one coin), and you can get a couple of those by scraping up random seashells and bugs to hock at the general store.
At best, inflation is horribly out of control in the Animal Crossing world and Nook might have a lot of Bells, but those are equivalent to wheelbarrows full of Zimbabwe dollars.
Or it’s a non-decimalized currency, like the Yen.