[Answer] How did silver from the mines of Mexico and Peru affect international commerce?

Answer: It enabled Europeans to buy Chinese tea silk and porcelain
How did silver from the mines of Mexico and Peru affect international commerce?

From 1500 to 1800 Mexico and Peru produced about 80% of the world’s silver with 30% of it eventually ending up in China (largely because of Dutch and British merchants who used it to purchase exotic Chinese commodities). In the late 16th and …

Silver became the motor of the Spanish colonial economy both in New Spain and in Peru . It was mined under license from the crown with a fifth of the proceeds (quinto real) rendered to the crown.Although the Spaniards sought gold and there were some small mines in Oaxaca and Michoacan the big transformation in New Spain’s economy came in the mid-sixteenth century with discoveries of large …

Higher international prices allowed medium-sized mines and small producers to mine lower grade ores. Peru produced more than 313 300 t of lead in concentrates compared with about 319 400 t in 2005. Exports of zinc lead and silver were valued at about $2 billion $713 million and $479 million respectively compared with $805 million $491 million and $281 million in 2005 respectively.

Economic history of Mexico – Wikipedia

Economic history of Mexico – Wikipedia

Global silver trade from the 16th to 19th centuries …

Economic history of Mexico – Wikipedia

Economic history of Mexico – Wikipedia

Silver coins are possibly the oldest mass-produced form of coinage. Silver has been used as a coinage metal since the times of the Greeks; their silver drachmas were popular trade coins. The ancient Persians used silver coins between 612-330 BC. Before 1797 British pennies were made of silver . As with all collectible coins many factors determine the value of a silver coin such as its rarity …

The increase in gold and silver on the Iberian market caused high inflation in the 17th century affecting the Spanish economy. As a consequence the Crown was forced to del…

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