Best way of making money?

[EaterofBurgers]

For me it is hardmode events and selling bars.

 

[AngryNimbus]

Farming HM mobs is the most effective, later farming the Pumpkin Moon is highly profitable too

 

[Mental Mouse]

Gems for stained glass are an easy winner early on; they might be eclipsed by mob drops late and/or in Expert mode.

 

[Toxophilite [East]]

First, allow me to contextualize my perspective:

1. If it's not fun/ enjoyable, don't do it. Getting too caught up in metagaming can sap the fun out of any videogame. "...given the opportunity, players will optimize the fun out of a game." -Soren Johnson and Sid Meier
2. Find what you enjoy doing the most in Terraria, and do more of that thing! I say this in confidence in 1.4+, only because the number of ways to play effectively have been dramatically improved (i.e. Fishing, Township/ Colonizing, Building, Farming [food/ resources], Buying/ Selling).
3. Once you gain confidence in your methods of obtaining Gold, just slowly start optimizing that, and pulling back somewhat on optimizing for the usual suspects, such as Invasions, Boss Fights etc. This might mean wearing full Fisherman Gear/ Items; full Money-making gear such as Greedy Ring, Discount Card, using NPC Happiness/ Tax Collector NPC.

The BEST way is normally the most enjoyable way IMHO.

 

[TerrariaOn3DS]

I just go to my RoD farm if I need money
the enemies drop decent amounts, and plenty of rare things that aren't RoDs drop for me to sell too
I usually leave a farming session with almost a whole platinum coin

I've made a lot of money in one stream several times in my life. That night three dudes from Australia gave me 60-100 bucks each.

(Read the thread before you say anything, because this thread is for Making money IN TERRARIA and not irl.
Now you know for next time, so hopefully you don't make the same mistake!)

 

[Champion Greninjoid]

Start a pyramid scheme (Oh wait you meant in Terraria?)
Item grinding farms can honestly give a great amount of money.

 

[Sigma90]

Pumpkin Moon if you can get to wave 15 quickly. Lots of coins and you can sell the dropped gear for more money. If you put an arena in the right place, it serves a dual purpose in allowing for farming of biome-specific drops like keys.

Solar Eclipse and Pirate Invasion are OK (plus give more items to equip / sell) if you're not strong enough yet to fight the Moon events.

 

[Admiral Voidzuli']

Steps to make money!

1. Get a job
2. Work
3. Bam, now you have moneys
4. Live a life of debt after having being forced to work at a McDonalds and still have Student Loans to pay off

 

[Stellar Mastodon 267]

I find that clearing out a massive region of the dungeon, best don’t pre-hard mode, then using it to farm once you have finished off planters is the best way to go. You can also do the same in the temple for less clutter from item drops, but this is less profitable. And then of course nothing I know of beats a pumpkin moon.