Spanish America.2C the peso.2Fdollar and Pacific trade Silver coin

with spanish colonization of americas after 1492, there significant finds in both new spain (mexico) in various sites in in zone outside indigenous settlement , in peru, discovery of great silver mine of potosí (in modern bolivia). spanish crown licensed mining sites provision fifth of proceeds, quinto go crown. crown established mints in mexico , peru, such on whole colonial period high quality, uniformly minted coins became international currency. not did silver flow spain , rest of europe, enriching spanish crown , stimulating industries in europe, spanish silver coins transported asia, via manila galleon. china in particular preferred silver coinage , high quality spanish coins paid high quality chinese porcelains , silks , other luxury goods. mexican silver coins continued exported china in late nineteenth-century.

1888 mexican 8 real coin chinese chop marks

europeans started silver mining in new world after discovery of americas answer demand silver in europe inspired fine craftsmanship of renaissance. discovery of silver in joachimsthal gave rise silver joachimsthaler coin. production of silver in americas influenced trade , politics in europe , transformed european relations other regions of world, particularly china , ottoman empire. influx of silver europe led uncontrolled minting of coins. countries of europe began issue large size silver coins. europeans used these silver coins purchase goods abroad led inflation. great amounts of new silver supply caused relative value of silver against gold drop.