The roots and development of the Thaler-sized silver coin date back to the mid-1400s. As the fifteenth century drew to a close the state of much of Europe's coinage was quite poor because of repeated debasement induced by the costs of continual warfare, and by the incessant centuries-long loss of silver and gold in indirect one-sided trades importing spices and porcelain and silk and other fine cloths and exotic goods from India, Indonesia and the Far East.