To pay "the iron price" means or implies stealing something. If you paid the iron price for something, it serves to say the item has been stolen.

It comes from a concept in the George R. R. Martin fantasy series A Song of Ice And Fire and subsequent HBO adaptation Game of Thrones, wherein a culture known as the "ironborn" seize things from those they have defeated, rather than paying for them or treating for them.

The opposite of the iron price is "the gold price" -- paying for possessions, which is considered shameful among the ironborn.
Balon Greyjoy: "That bauble around your neck; did you pay the iron price for it, or the gold? ... Did you pull it from the neck of a corpse you made? ... Iron or Gold?"

Theon Greyjoy: "Gold..."
by The Kingslayer May 7, 2013
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To take a item by force while owner is present, not paying for it with money, gold, or service.
I did pay the iron price for this chain by leaving him bleeding on the floor.
by Youngjayhova November 4, 2013
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is now the term one uses to describe the hangover experienced after a dark night of mischief.
eg. ‘I woke up in my friend’s sister’s bed and now I am paying the Iron Price
by ElCov March 29, 2013
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The nudity and sex scenes up and coming actors & actresses are required to do in Game of Thrones before becoming more established.
Khaleesi paid the iron price so often in Season 1, she hardly needs to get naked again for the rest of the show.
by Little finger February 17, 2014
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Receiving expected levels of satisfaction from a purchase at far lower cost than anticipated.

Sources: Prices in Pittsburgh are extremely low relative to other cities due to their also extremely low cost of living. Also the home of Iron City Beer, and the closest thing earth has to the home of the Greyjoy's.
Example 1:
A: "Hey that watch you bought looks expensive!"

B: "Actually I paid the iron city price so I still have plenty of money left over."

Example 2:
A: "I needa case of dem ahrns for da stillers game."
B: "You must pay the iron city price."
by elebrity September 2, 2014
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This is a word that relates to the Game of Thrones series, in which "the iron price" was described as paying for something with blood, either one's own, or anothers. Iron is a major component in the make-up of a person's blood, and the iron price clearly relates to this; versus paying for something with gold, silver, or something else. See also, the Iron Bank of Braavos, which has a similar concept relating to it.
Instead of paying with gold and silver, the conqueror bled on the battlefield; paying the iron price.
by Stopsayinghey January 18, 2023
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