As you probably know, gold is powerful. Really powerful. It buys units, buildings, upgrades, research agreements, and city state alliances. By rush-buying units and buildings (and alliances with militaristic city states), gold can be converted into production. Through maritime city states, gold can be converted directly to food. Through cultural city states, gold can be converted to culture. And using research agreements, you can convert gold to science.
The trading post tile improvement gives +2
to any tile, and can be built on top of forests and hills. So why build anything other than trading posts?
Here's a thought: don't build anything other than trading posts. No farms, no mines, no lumber mills, nothing. Just trading posts.
City States
Gold can be used to buy allegiance of city states. By default, 250 gold will buy you approximately 30 influence points, and influence changes at a default rate of -1 per turn.
So if you are allied with a city state, it costs 250 / 30 = 8.33gpt to maintain that alliance. Adopting Patronage will drop this down to 6.25gpt.
Trading Posts vs. Farms
Food comes from maritime city states. It costs 6.25gpt to keep an alliance with a city state with Patronage - this corresponds to just over 3 trading posts worth of gold, and an alliance with a maritime city state will give you +2 food in every city. A farm on the other hand gives you +2 food if you have both Civil Service and Fertilizers. So if you have 4 or more cities, it's more beneficial to build trading posts and get your food from a maritime city state, rather than building farms.
This also doesn't take into account modifiers - markets and banks provide modifiers to gold production, but nothing provides bonuses to food production. A market and a bank in a city will give you +50% gold, which means that a trading post gives you +3gpt instead of +2gpt! In that case, trading posts are cheaper than farms if you have just 3 cities.
The benefit is actually even greater than that, because you have to wait for Civil Service for irrigated farms or Fertilizer for non-irrigated farms if you want +2 food, whereas trading posts give you +2 commerce immediately.
Trading Posts vs. Mines/Lumbermills
This is a little bit more iffy, because rush-buying is really expensive. It varies depending on what you're buying, but on average it seems that the rush-buy price is around 4-5x the cost in hammers.
A trading post gives +2G, and mines and lumbermills give +1P, which means that building a trading post then rush-buying is more expensive than just building stuff normally. But not entirely - because you can still build stuff while you're waiting for enough gold to rush-buy.
Let's take a hypothetical city with 3 mined hills, which is a total of 9
. A pikeman (100
) takes 12 turns to build = 0.083 pikemen/turn. Now let's replace those mines with trading posts, which is a total of 6
and 6
. It now takes 17 turns to build a pikeman normally = 0.058 pikemen/turn. But you can also rush buy a pikeman for 400
, which at 6gpt = 67 turns = 0.015 pikemen/turn. So with trading posts, you get in total 0.058 + 0.015 = 0.073 pikemen/turn.
So replacing mines with trading posts is still a net loss if you look only at production - if you're building pikemen for example, in the worst-case scenario (a city working only hills) using trading posts is about 12% slower than mines on hills.
But remember that Big Ben and the Mercantilism social policy each reduce the rush-buy cost by 25%: if you have them both, it effectively halves the rush-buy price. If you have either Big Ben or Mercantilism, the production advantage of mines/lumbermills vanishes completely and you're better off building trading posts over hills/forests and just buying everything you need.
Notes
The trading post tile improvement gives +2

Here's a thought: don't build anything other than trading posts. No farms, no mines, no lumber mills, nothing. Just trading posts.
City States
Gold can be used to buy allegiance of city states. By default, 250 gold will buy you approximately 30 influence points, and influence changes at a default rate of -1 per turn.
So if you are allied with a city state, it costs 250 / 30 = 8.33gpt to maintain that alliance. Adopting Patronage will drop this down to 6.25gpt.
Trading Posts vs. Farms
Food comes from maritime city states. It costs 6.25gpt to keep an alliance with a city state with Patronage - this corresponds to just over 3 trading posts worth of gold, and an alliance with a maritime city state will give you +2 food in every city. A farm on the other hand gives you +2 food if you have both Civil Service and Fertilizers. So if you have 4 or more cities, it's more beneficial to build trading posts and get your food from a maritime city state, rather than building farms.
This also doesn't take into account modifiers - markets and banks provide modifiers to gold production, but nothing provides bonuses to food production. A market and a bank in a city will give you +50% gold, which means that a trading post gives you +3gpt instead of +2gpt! In that case, trading posts are cheaper than farms if you have just 3 cities.
The benefit is actually even greater than that, because you have to wait for Civil Service for irrigated farms or Fertilizer for non-irrigated farms if you want +2 food, whereas trading posts give you +2 commerce immediately.
Trading Posts vs. Mines/Lumbermills
This is a little bit more iffy, because rush-buying is really expensive. It varies depending on what you're buying, but on average it seems that the rush-buy price is around 4-5x the cost in hammers.
A trading post gives +2G, and mines and lumbermills give +1P, which means that building a trading post then rush-buying is more expensive than just building stuff normally. But not entirely - because you can still build stuff while you're waiting for enough gold to rush-buy.
Let's take a hypothetical city with 3 mined hills, which is a total of 9





So replacing mines with trading posts is still a net loss if you look only at production - if you're building pikemen for example, in the worst-case scenario (a city working only hills) using trading posts is about 12% slower than mines on hills.
But remember that Big Ben and the Mercantilism social policy each reduce the rush-buy cost by 25%: if you have them both, it effectively halves the rush-buy price. If you have either Big Ben or Mercantilism, the production advantage of mines/lumbermills vanishes completely and you're better off building trading posts over hills/forests and just buying everything you need.
Notes
- There's a policy on the Rationalism branch which gives you +1 science per trading post. So in addition to all the gold you get, you also get a ridiculous amount of science!
- Golden ages will give you crazy amounts of gold because every tile will have +2 gold.
- Greece and Siam are really powerful because of their city state unique abilities. Greece have their influence decay halved, and Siam gets 50% more culture/food from city-states.
- Gold modifier buildings (market, banks, stock exchanges) are available earlier and quicker to build than production modifier buildings (windmill, factory, solar plant), making trading posts even more powerful for production.
- If you have more than a couple of cities, allying with a maritime city state is much cheaper than constructing granaries or watermills.