The city was founded in 1545 in a miner's centre. Later it gained great wealth, and in 1625 it became the biggest city of America, with 150.000 inhabitants. Due to this fact, the popular saying "It's worth a Potosi" was created. It means that something is worth a fortune. It must be considered that in those years, Peru was a mystical land full of wealth. Most of the silver taken from America to Spain was exploited in Potosi through the enslaving work of indigenous people as miners. The labour was known as the institution of "Mita" (form of public service during the Inca Empire) that was customary in Inca times and was greatly used by the vice royal Francisco de Toledo, due to the lack of manpower. Afterwards, it declined in use and was abolished. In the 19th century the vein ran out of silver, giving place to tin extraction, which resulted in an economic crash.

During the War of Independence (1809-1825), Potosi frequently passed between the control of Royalist and Patriot forces. Major blunders by the First Auxiliary Army from Buenos Aires (headed by Juan José Castelli) led to an increased sense that independence was needed. This fact aroused resentment towards him. During that occupation, there was anarchy and martial excess, and Potosi became unfriendly to the extent that it could not be defended anymore.

When the Second Auxiliary Army arrived, it was well received, and the commander, Manuel Belgrano did much to heal the past wounds inflicted by tyrannical-minded Castelli. When that army was forced to retreat, Belgrano decided to blow up the Coin House. As the locals refused to evacuate the building, this explosion might have resulted in many casualties because the fuse had already been lit by then. The incoming disaster was warned, but not by the Argentineans, who were fleeing at that moment, but by locals who put the fuse out. Later on, two more expeditions from Buenos Aires went to Potosi.

Informatión of Potosí The history of Sucre Places to visit in Potosí Casa de la Moneda (Coin House) - Potosí Uyuni salt plane - Potosí Otras Atracciones en Potosí Reserva Eduardo Abaroa - Potosí Lagoon - Red, Green and White - Potosí