Silver: The Primary Export of New Spain and Its Global Impact

Main Export

Silver was the dominant export of New Spain (colonial Mexico) from the 16th to 19th centuries.

Key Sources

• Zacatecas – Discovered 1546, one of the world's richest silver districts.
• San Luis Potosí – Major mines from 1592 onward.
• Other: Guanajuato, Pachuca, Taxco.

Global Trade Role

• Silver coins (pieces of eight) became the first global currency.
• Flowed to Europe (financing wars, trade) and Asia (via Manila Galleons for silk, porcelain, spices).
• Fueled price revolution in Europe and integrated world markets.

Other Exports

Cochineal, cocoa, vanilla, hides, but silver dwarfed them in value.