Great Bullion Famine

The Great Bullion Famine was a shortage of precious metals that struck Europe in the 15th century, with the worst years of the Famine lasting from 1457 to 1464. During the Middle Ages, gold and silver coins saw widespread use as currency in Europe, and facilitated trade with the Middle East and Asia; the shortage of these metals therefore became a problem for European economies. Many causes for the famine have been proposed, such as the Hundred Years' War (1337–1453), depopulation and poor agricultural output due to the aftermath of the Black Death (1346–1353), and an outflow of silver to the east unmatched by mining output. The Late Middle Ages particularly saw a deficit in silver rather than gold.

Great Bullion Famine

The Great Bullion Famine was a shortage of precious metals that struck Europe in the 15th century, with the worst years of the Famine lasting from 1457 to 1464. During the Middle Ages, gold and silver coins saw widespread use as currency in Europe, and facilitated trade with the Middle East and Asia; the shortage of these metals therefore became a problem for European economies. Many causes for the famine have been proposed, such as the Hundred Years' War (1337–1453), depopulation and poor agricultural output due to the aftermath of the Black Death (1346–1353), and an outflow of silver to the east unmatched by mining output. The Late Middle Ages particularly saw a deficit in silver rather than gold.