Global Silver Circulation

Timeline

1. 1560–1569Potosí · PotosíIn the 1560s, output at the Potosí and Mexican silver mines remained high; the Spanish colonial authorities used techniques such as mercury amalgamation to improve refining efficiency, and large quantities of silver bullion entered global circulation via Acapulco and Seville.
2. 1561–1570Seville · SevilleAfter American silver fleets reached Seville, part was retained for Spanish royal finances and military expenses, while part flowed through Genoese bankers and the financial networks of Antwerp and Amsterdam to northern and central Europe, intensifying Europe's Price Revolution and expansion of the money supply.
3. 1565–1570Manila and China's southeastern coast · ManilaOnce the galleon trade was established, Mexican silver pesos entered Fujian, Guangdong, and other ports via Manila to purchase Chinese silk and porcelain, making the late 1560s a key phase in the acceleration of eastward global silver flows, and also affecting the silverization of taxes after the Ming Single Whip Reform.