The city itself was founded once the silver was discovered there in 1545. Eventually, Potosí was home to the Spanish colonial mint and supplied Spain with its silver and other precious metals. This max influx of metals caused Spain's currency to overflow and generated global economic alterations (this is where Potosí influenced the global economy of the sixteenth century). One of the outcomes of this overflow of currency led to the inflation of Spain's silver, meaning it lost its value due to the overabundance of it.
