The silver trade between the Americas and Europe and onward to China from the 16th to 18th centuries had a profound effect on the world economy. The silver trade could also be considered the beginning of a global economy. Silver mining has been undertaken since early times. As silver is a precious metal often used for coins, its mining has historically often been lucrative. As with other precious metals such as gold or platinum, newly discovered deposits of silver ore have sparked silver rushes of miners seeking their fortunes.From the mid-15th century silver began to be extracted from copper ores in massive quantities using the liquation process creating a boost to the mining and metallurgy industries of Central Europe. Vast amounts of silver were brought into the possession of the crowns of Europe after the conquest of the Americas, which triggered a period of inflation in Europe. Silver, which was extremely valuable in China, became a global commodity, contributing to the rise of the Spanish Empire.