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I think this is really only worthwhile if you're just beginning the game. After a while the items you get off bandits or in chests is worth significantly more. Your suggestion is a good way to start the game though!
this i only thought about the second time playing the game, if you want the easiest way of making gold this is it!
what you do after leaving the imperial dungeon is go and join the mages guild it doesnt matter which one, once youve joined start clearing it of all retorts, almbelics etc until you cant carry any more, then simple go and sell them to the copious coinpurse, again dont worry about the shopkeep running out of gold simply repeat this with all the mages guilds, unfortunatly some of these items dont respawn so join the fighters guild and just do the same.
i know this seems a long process but its the safest way i can think of.
Find Glarthir in Skingrad for some easy gold, whether you go through with his murder requests or report him to the guards (after he asks you to kill people)) and you simply rob his home you can end up with over 1000g. Another quick gold making scheme is to gamble at the Arena. Simply save before you bet and if you lose reload. The Mage's guild raiding as mentioned above is quite easy and will make you enough to buy initial provisions, spells and training.ShadowSentinel (talk) 18:58, June 20, 2010 (UTC)