What did Europeans do with the gold and silver that was mined from Mexico and Peru?

Answer 1

They used it in various things.

They distributed it into their economies, some well, others not. The Spanish empire took the majority of such things from that region, and they spent it all. Eventually, because of their spending habits the Spanish ended up in debt very badly. They dropped from the number one world power to nothing in just a short time.

The British and Dutch invested what they got. They built up their infrastructure and increased their volume of trade with investments.

Answer 2

Mexico and Peru were Spanish possessions. 100% of that gold was the property of the King of Spain.
Over the centuries the English and the Dutch got a little of it, mainly by capturing treasure ships on the high seas.

Spain financed itself by the treasure fleets; there was no income tax, as an example....

That gold kept the Spanish Empire afloat for a very long time......1500 to 1820 at a minimum; the last vestiges of the Spanish Empire weren't wiped out till the US took Cuba and the Philippines away from them in 1898

Answer 3

Much of it ended up in China since silver was one of the few trade goods Chinese desired from Europeans.

Answer 4

the Spaniards who conquered the South American States and Mexico later on, where looking for the legendary gold of the Incas and Aztecs. Mostly they used it for getting more estates and land and to get wealthier.

Answer 5

Melted down and struck into coins.
FAR more silver than gold.