|Guild Wars 2 Magic Find|
A lot of this information comes courtesy of Reddit & The Official Guild Wars 2 Forums so if you prefer to read it from there you certainly can. There was also a post written on the topic by a fellow gold blogger at Guild Wars 2 Gold Guide so be sure to check those out as well.
What is +Magic Find?
Magic find is the stat that improves your chance of picking up more rare items. The best explanation that I've found is from a Reddit post covering all the finer details on the use of +Magic Find.
Make gold through buffing your Magic Find Stat.It is believed that all your bonuses to the stats are added up and that modifies the drop tables. So if you have 2 bonuses of 50% magic find for example you would end up with 100% magic find. So if a mob had a 5% to drop a 'fine' quality crafting ingredient or piece of equipment that chance would be doubled to 10%. I must caution that this is not fact and still being tested, because current smaller tests seem to indicate that magic find is actually more effective that what is described above as this small sample seems to indicate:Level 40~ skales.50 kill sample - 0% MF - 6/50 dropped bloods.50 kill sample - 20% MF - 11/50 dropped bloods.50 kill sample - 63% MF - 21/50 dropped bloods.
There are a few easy ways to get a boost to your +Magic Find stat. The easiest is with a cooking item called the Omnomberry Bar. The Omnomberry Bar actually gives you another boost as well which is fantastic for people that are farming mobs for crafting materials or just gold. The full description for this item is:
Nourishment (30m): 30% Magic Find 40% Gold from Monsters +10 Experience from kills.In regards to making gold this is a huge leg up, but you do have to be killing mobs to get it. So if you are going to be farming for things like Vial of Blood or Claws you gain an additional benefit to farming for those if you just utilize an Omnomberry Bar.
How to identify gear with +Magic Find on it
Now--there are more ways to buff up your +Magic Find stat than just eating foods too. You can also obtain gear which has it on it. You can always tell which gear will have +Magic Find because it will have the prefix "Explorer" or "Travelers" on it.
Runes with +Magic Find on them (Reddit)
The following Runes/Sigils are the only ones in the game that provide a buff to your +Magic Find statistic. Couple them with proper gear as well as a Omnomberry Bar and you will have a significant boost to the point where you will see a noticeable increase to the amount of gold you earn from killing mobs.
Magic find is a very powerful stat if you choose to utilize it. The difference between not using it and using it is significant enough that farming without it becomes much less profitable. I would even go as far as saying it may be wise to look into setting up farming gear for when you go out and try to farm crafting items. You're still going to get that same amount of items, but you will find yourself with a few Blue, Green or Yellow items as an added bonus which can only increase your profit margins.