I created a new character (fisherman mage) on Baja. She started with about 522,500 gold. I don't know the exact amount because I'd already been buying stuff. Is that much gold normal now? She did the new newbie quest, if that makes a difference.
All your characters share the same bank account. The gold you see has been earned by all your older characters. These days you don't need a house or boat to transfer gold between characters, but if you are not aware of this fact, one character can spend all of them into the poorhouse!
Oh. Was it always like that? I seem to remember having to transfer gold between characters.
... and wow. Only 522,500 gold after years of play, with eventually 5 characters on that account before I let it expire? We must not have been addicted to worldly goods.
No, it wasn't always like that. This change was enacted within the last year, I believe. Checks are a thing of the past too and when you buy from NPC merchants, your gold is typically drawn straight from your bank account. It takes a bit of getting used to, but overall it is more convenient.