What does +___% to find gold/magic items give?

Question

Some of my gear says it gives +__% to finding gold and magic items. What exactly does this mean? Does it mean for gold I'm more likely to:

• Find more gold piles in general laying on the ground (natural spawns)?
• Find more gold in each pile?
• Increase the chances of finding more gold piles from killed mobs/chests/destroyables?

As for magic items, does it mean I'm more likely to:

• Find better gear? like greens instead of whites? blues instead of greens? etc
• Increase chance for gear to drop from a kill/chest/destroyable?

Answer 1

For gold:

• +_% amount of gold found means you get more gold when it drops, it doesn't affect gold drop rates.

For items:

• +_% magic finding means increased drop rate for gear, but not necessarily yields better gear. Each item tier (green, blue, yellow, purple) has its own drop rates (%), and it is this drop rate that will be increased.