I think we've all been there where, you're fighting this enemy, they're clearly heavily armored and have a sweet weapon because of how hard they're hitting that's doing crazy stuff, and you beat them only to discover like 10 gold. Throw in a fudge factor for new items, but yeah, more or less make the lion's share of the gear we can loot what we can visually see being worn by the NPCs. How does that sound?