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I've just reactivated an old account of mine and I'm going to start leveling for GB and sell gold. My question is, should I make this new toon on the same realm as my other farmer or start fresh?
Depends..can you keep up with the demand on your other farmer? Do you have private buyers wanting to buy more than what you can farm? If yes, then make it on the same server. If no, different server.
Also - you can research on gold prices..but this always changes..so its mostly just the demand of herbs/mines/etc that you will be farming.