Get Sm0ked
Alea Iacta Est
Background
Skyrim's latest patch (1.8) arrived in November. This prepared the game for Skyrim's latest DLC, Dragonborn and fixed a number of bugs.Most importantly, Bethesda patched the Smithing Experience Generating exploit of Iron Daggers. How you gain experience in the smithing tree was also remoddeled. In Patch 1.8 Items crafted yield experience according to their base value.
The bottom line is iron daggers have a base value of 10 gold septims, this means they yield almost no smithing experience.
*The Guide
Requirements: Transmute Spell. Location of the tome is in guide.
Iron ore.
Access to smelter and forge.
Recommended Items: Morokei (Mask).
Robes of Alteration. Novice-Master.
Enchanted ring and necklace. (Magicka regain or Fortify Alteration.)
Picaxe
Method: 1. Travel to Halted Stream camp, North west of Whiterun.
2. Clear out the bandits in the cave and acquire the Transmute spell tome on the table opposite the dead mammoth, in the central chamber.
3. Mine all Iron ore in the cave and exit through the way you came.
From here you can travel around Skyrim mining iron ore in mines or you can just head to Whiterun, (This is what I did and is probably quicker.)
4. Equip your Alteration set and start transmuting the iron ore that you have acquired.
5. Once In Whiterun and buy all the iron ore in stock, from Warmaiden's.
6. Wait 48 Hours and buy iron ore again from both vendors. Repeat this process until you are happy with the amount of iron ore you have acquired. *Remember, 2 gold ore = 1 gold ingot.
*All your free time you should be transmuting the iron ore you have, into gold ore.
7. When you are happy with the amount of gold ore you have obtained, smelt them into bars.
8. With your new gold bars forge gold rings. The experience is slightly greater than the experience you got from the old iron daggers.
9. Sell your rings back to Adrianne or Ulfberth for a profit.
Note: This method is the quickest method I have heard about and tested as of patch 1.8 but it is still considerably slower than the previous exploit involving iron daggers, so you might not want to do it all in one go.
Iron mine List and Locations -> Skyrim Ore Locations List - GamingReality
Halted Stream Camp Map Location -> Google Image Result for http://images1.wikia.nocookie.net/__cb20111123033144/elderscrolls/images/4/43/HaltedStreamLoc.jpg
*I would love to hear your feedback on how the guide helped you and how you think it could be improved.
Happy Smithing,
Get Sm0ked