Crass Kringle
 

What if you don't have enough gold from your items to pay your level times 100 penalty?

Re: Crass Kringle
 

In that case, you have to give up all your in-play Items. If you were Level 5, but only had one 200 GP Item in play, you'd have to give up that Item. If you had 3 Items, each worth 200 GP (600 total) you'd still have to give up all of them since you have to give up at least 500 GP worth. If you had the same Items, but were only Level 3 or 4, you'd have to give up only 2.