I currently have 47 motes of light. Should I spend 23 of them on the Exotic Helm engram in hopes of Helm of Inmost Light, or just hold onto them for reforging?
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Go for the helmet! If you use the motes to reforge a weapon you might not get the perks you want on that weapon anyways. Buy a helmet engram and you can still keep the helmet on another character.
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Your call bro. The helmet is pretty good, but chances are slim you'll get it. Reforging weapons is fun way to piss thwm away.