In the years covered by this volume, 1250-1450, the production patterns, in both the European precious and base metal industries, first established in the twelfth century, and described in volume two, continued to be played out. This now took place however in the context of a continuous process of increasingly acute resource depletion, which finally culminated in the terminal mining crisis of the 1450s. Even as European silver production declined, however, compensatory supplies of precious metals became for the first time available as a counter-cyclical production pattern came to characterise a newly emergent European gold industry which by 1450 had displaced African gold as the main source of supply to European mints. African gold increasingly was supplied to African and Asiatic markets.