Once the Viceroyalty of Peru was established, gold and silver from the Andes enriched the conquerors, and the viceroyalty became the principal source of Spanish wealth and power in South America. The first coins minted for Peru (and indeed for South America) appeared between 1568 and 1570. Viceroy Manuel de Oms y de Santa Pau sent back an enormous sum of money (1,600,000 pesos) to the king to cover some of the costs of the War of the Spanish Succession. This was possible in part because of the discovery of the mines in Caraboya. Silver from mines at Potosí, Bolivia, circulated around the world. Peruvian and other New World silver was so plentiful that it caused inflation in Spain and a collapse in its price. Even today, Peru and Bolivia produce much of the world's silver.