Majority of partyhats are traded in world 2 around the grand exchange, but collectibles players wishing to buy or sell a partyhat may either have to advertise on the RuneScape forums, leave it in the Grand Exchange, or trade at much lower/higher prices to accommodate the few players that are willing to trade partyhats. They are used as cash holders for players because of the stability of the item. Players will use these items as investments, cash placements, staked items, and collectables. Surprisingly, partyhats do play a pivotal role in the RuneScape economy. The majority of the few players who held onto them eventually quit RuneScape or were banned, leaving the number of active players with partyhats at a very, very low number. Also, at the time of the release, partyhats were virtually worthless, meaning many players discarded them immediately. The much smaller number of players when partyhats were released meant that not as many were acquired when available. Over time, the volume of partyhats has been diminishing. In Runescape Classic, the price of partyhats was drastically changed after players abused a glitch by creating many partyhats (see Partyhat duplication glitch for more info.) Due to their high price, they have become recognised as a symbol of wealth in the game by players and non-player characters alike. Due to their rarity, these items hold a much higher Street value than their value on the Grand Exchange. Partyhats are used to hold large sums of cash, because the gold coin limit is 2.147B and these hats are gaining wealth over time. These are currently the most valuable objects in RuneScape. Because they are discontinued, they are very rare, much sought after and worth billions of coins, although they don't offer any stat bonuses. When worn by a player they resemble a crown. There are six different coloured partyhats, all with the same shape and size (red, yellow, green, blue, purple, and white). Partyhats are obtained by opening Christmas crackers, dropped during the 2001 Christmas event.
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