How much money did a blacksmith get in the medieval times?

In his book Daily Life in Medieval Europe, Jeffrey Singman estimates the income of a hired tradesman, expressed in English money, to be between 3 and 9 pennies a day, based on skill of the craftsman, the type of work done, and the current economic conditions. A blacksmith would likely be toward the lower end of this spectrum.

To give an example of purchasing power, a loaf of bread would have been 1/4 penny, a dozen eggs, a pound of cheese, or a gallon of ale would be a half penny. Shoes would have been 2 1/2 pennies, and a shirt 5 3/4 pennies.

This is a generalization. A blacksmith in a small village might not have full time work as a smith, and would be farming as well, and may be taking some of his payments in barter. A master smith with apprentices and journeymen working in his shop would have more income due to his ability to produce more product. A journeyman might also receive a mid day meal as part of his pay, or a periodic grant such as a set of clothing once per year.