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it was used for money

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Q: Why is gold and silver important in Europeans?
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What problems did Europeans face in using gold and silver coins?

Since the economy was based on gold and silver, the economy could not grow. It was stymied because of the lack of gold and silver...


What did Europeans do with the gold and silver that was mined from Mexico and Peru?

They bought and traded with Asia using the silver and gold mined in Mexico and peru.


Was gold and silver brought back from the New World by Europeans?

YES!


Which motivation led European sailors to explore the Americas?

Initially Europeans explored the Americas in search of gold, silver and precious stones.


What trade goods did the Europeans find available in Africa?

gold, silver, ivory.


Why was gold and silver important to explorers?

Gold and silver were important to explorers because they were valuable commodities that could be traded, used to purchase goods and services, and fund further explorations. These precious metals were also a sign of wealth, power, and status, making them desirable objectives for explorers seeking fame and fortune. Additionally, discovering and claiming gold and silver deposits could lead to economic and political advantage for their sponsors and home countries.


How did Europeans make their money in the new world?

The Europeans made money with furs, fish, and tobacco. The Spanish made a lot of money in gold and silver but there was not much gold in the American colonies.


The Europeans eventually realized that the riches of the New World lay not in the spice trade but in?

Silver and gold


What specific recourse did the Europeans want from the new world?

The Europeans wanted gold from the new world. Other desired resources were silver, copper and food.


What did europeans gain from the Indians that proved more important than gold?

Sugar


Why did Ming China demand that Europeans pay for goods with gold or silver?

The use of silver was very important during the Ming Dynasty in China. Silver was used to pay taxes and was essential for larger trading transactions. Silver is also not a natural resource found in China, and they would normally have to barter with many countries to gather silver.


What did europeans trade with asians?

silver and gold and silk and food and nutmeg and salt and wool and oil and furs and art