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1Why do you specify "gold and silver" ?– MCW ♦Commented May 8, 2016 at 2:30
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@MarkC.Wallace I'm not interested in softer forms of currency, such as paper bills or credit of any kind. Softer currency might not be accepted for trade among other empires, especially the really distant ones like China and Japan. Another example is neutral empires during war, which might not accept soft money. Gold and silver are the hardest currencies there are.– DrZ214Commented May 8, 2016 at 2:54
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little pieces of the puzzle: in 1650 after expelling the Dutch from Brazil and Africa, POR was broke and owing money to banks all over Europe. Do not expect century-old reserves in POR. But, around 1700 gold from Minas Gerais (look for São João del Rei and Vila Rica - 800t of gold in XVIII c.) started to come. As POR imported much high-value stuff from ENG, the gold on the Bank of ENG should be a significant part of the total. POR also spent a lot to rebuild Lisbon after the earthquake.– LuizCommented May 13, 2022 at 23:54
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