Both Steel Ingots and Golden Ingots sit in the mid-to-late-game trade and crafting layer, not basic currency. They each have their own unlock path and their own list of recipes they open.

More context

Steel Ingots are not smelted at a Furnace in the sequel. They are purchased from Bishop at the Royal Foundry once you have completed Jack's sewer storyline.

Steel Ingots

  1. Close the Western Floodgate

    Close the Western Floodgate.

  2. Finish the Eastern Floodgate battles

    Finish the Eastern Floodgate battles.

  3. Break Through to the Bathhouse Basement

    Win "Break Through to the Bathhouse Basement".

  4. Reach the Royal Foundry

    Reach the Royal Foundry.

  5. Trigger Man of Steel

    Trigger the "Man of Steel" conversation by asking the Bishop about high-quality steel.

Royal Foundry becomes a waypoint

The Royal Foundry then becomes a fast-travel waypoint.

Steel Smithing research requirements

Jack reputation: 70. Red tech points: 120. Blue tech points: 15.

Steel Smithing recipes

RecipeInputs / yield

Steel Detail

1 Steel Ingot → 4 (6 with Engineer perk)

Steel Screws

1 Steel Ingot → 8 (10 with Blacksmith perk)

Steel Axe

Steel Ingot + woodwork ingredients

Steel Pickaxe

Steel Ingot + woodwork ingredients

Steel Hammer

Steel Ingot + woodwork ingredients

Steel Shovel

Steel Ingot + woodwork ingredients

Engineering Details

Made at Furnace II with Casting Table extension; requires the Steel Casting technology.

Gold — Nuggets and Ingots

Gold comes in two forms with separate sources.

Golden Nuggets — three sources

Trademaster

Bought from the Trademaster at the first trade level.

Gold Digger bonus

Drop as a Gold Digger bonus when washing Sand in a Sluice Box.

Philosopher Stone

Converted from a Stone plus Iron Ore at the Formulation Bench with Philosopher Stone mastery 6.

Golden Ingots — how to smelt

Smelting nuggets into ingots requires the Reanimation II technology (100 blue tech points, after Reanimation Liquid) and a Furnace II with the Bellows extension at mastery 4. The recipe is: 3 Golden Nuggets + 30 Fuel → 2 Golden Ingots (3 with Fireman perk). Golden Ingots are also sold by the Jeweler from the second trade level, and a Philosopher Stone at mastery 8 can convert 1 Stone + 1 Iron Ingot into 1 Golden Ingot.

What Golden Ingots are used for

Golden Zombie Collar

1 ingot + 1 Blue Crystal + 5 Faith at the Jewelry Table. This is the second tier of the resurrection collar chain.

Golden Talisman

A late-game crafting component used in tier III jewelry recipes.

Blank Hardcover Notebook

Crafted at the Scriptorium for Theology tier III prayers.

What Golden Ingots feed

For the broader crafting chain that consumes these metals, see the Crafting and tech tree guide.