Does using more than one Three of Coins at a time, (i.e. if I consume 5 three of coins before killing a major), is the chance better of that major dropping an exotic? Or is it a 1:1 ratio of ToC to Majors?
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No, only use one at a time. Supposedly if you don't receive an engram from the ultra you kill, the next 3oC will have a greater rate. But I've seen a lot of threads saying that the drop rate is broken has hell.