A classic mistake I have done myself a few times is log into a character, go out and farm copper for example without checking the prices on the auction house. *YIKES* Most of the time prices are stable, but there are times that even the mining items and cloth drops in value.
So before you decide "hey I want to farm mageweave cloth today." Don't do it until you check the price. Its a huge mistake when you come back and realize you farmed for a couple hours to discover you might only make 6 gold a stack, not good...
Some low level items sell decently and if you have a high level character it can become easier to grind the gold because being high level has one advantage. You can kill things faster, much faster.
If you are far away from a auction house I highly suggest making a character and not leveling him/her. Make this character and run them up to the auction house, this can be your bank toon. Just leave them in whatever city they are closest too. This way you will always have someone close to the auction house and you can easily mail your items to this toon.
I was thinking of this topic because I did this the other day (funny enough) I went out farming Wool Cloth and low level enchanting supplies. Only to find out Wool Cloth was selling for 4 gold a stack (On my server it normally is higher) and most of the enchanting supplies were very cheap.
So be smart and do that research before you head out!
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