High merchant prices, or am I just forgetting?

[Lamprey]

Been 8 years since I played EQ1 (been playing EQ2 for a long time), but I just started a baby cleric yesterday. He's an Erudite, hailing out of Qeynos right now. So I went to buy him leather armor, remembering that ac was king in this game and leather's a great way to get ac early on cheaply. Plus, erudites in leather looked awesome.

Then I checked merchant prices.

2pp for the legs! Most pieces over 1pp! My jaw dropped. But then I thought about it this morning... wasn't the money conversion different in EQ1?

So, could someone refresh my memory? 2pp - does that equal 200gp (as in EQ1), or does it equal 20gp? If it's 20, that's no big deal... 200 would be nuts.