Post medieval Spanish Coin

Post medieval Spanish Coin

During the early 17th Century Europe underwent a large-scale currency crisis due in large part to the near constant state of war during the century. In no place was this more apparent than in Spain where the real had undergone tremendous inflation as result of the importation of silver from Spain’s New World holdings that had flooded the market with new coins (Elliott, 329). To make matters worse, the imports of silver began to drastically decrease during the 30 years war as a result of overexploitation in American, repeated appropriation by the Spanish government, and the resultant lack of confidence among Spanish merchants (Elliott, 339). One of the clearest examples of Spain’s diminishing power during this period was its inability to control Brazil despite controlling Portugal. They were repeatedly unable to wrest control from the Dutch who had controlled Brazil since 1630 (Elliott, 333).
These circumstances had profound impacts on Spain that forever changed the power structure of Europe and the Atlantic World. The economic breakdown of Spain coupled with its weak monarchy led to increased weakening in the structure of the already tenuous monarchy. Disagreements about taxes, protection, and government control led to unrest in Andalusia (where Seville is located), Aragon, and Valencia, while Catalonia and Portugal were in open revolt. The loss of Portugal in 1640 as result of an internal revolt. (Cowans, 180). Portugal went on to be one of the strongest maritime powers during the remainder of the 17th century, eclipsing the former power of Spain.

Seville Mint

The Portable Antiquities Act

1599

Spain

Free Re-use