You can also keep stealing the ore back from the king while he makes your armor. Then, as soon as he finishes one set of armor, give him the ore again and he will make you another, ad infinitum. The armor sells for a pretty penny, and you can exploit the fact that you can sell the armor at the store for more than it costs to buy it back. (Instant money maker). Unless you consider that a cheat and you are against cheating...
