Economy
The silver coin is the benchmark for the economy of Chardenfell. One silver piece is the rough equivalent of one day of standard "peasant" labor. The world of Chardenfell is one with lots of economic and power inequality. The most expensive items will often be quite expensive compared to this figure. Generally, any magic above 3rd level spells is quite rare to the point of near non-existence anymore. There are rumors of ancient and powerful magic, but in the modern world 3rd level spells represent expert level magic users.
Moreover, there are expanded options for player Crafting of consumable magic items.
Encumbrance
As a related note, encumbrance is not expected to be tracked at the pound granularity. Instead, expect to work reasonably with the GM to determine if a PC is carrying too much for the narrative at hand. For important magical items, a physical handout, like an index card, might be used.