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My mistake - he is offered 45 Lumione for the pepper, with the exchange rate quoted at 32 5/6 - which comes out to 1477.5 Trenni. No wonder Lawrence was willing to accept the deal.
Watching the episode again, my take is that Lawrence was probably offered a fair deal. The merchant decided on the weighing scale after Lawrence stated that he believed in God, and he didn't offer Lawrence a drink or drag out the proceedings before settling on the deal. His dirty tricks are probably reserved for others.
Lawrence ends up with a debt of 47 Lumione, which tells me that he used his entire leverage to obtain armor on credit.
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