Wonder what happened to all that Inca and Aztec gold sent to Spain, then transferred to the USSR during the Spanish Civil war, where it disappeared, never to be seen again.
Jewish merchants took a portion with them when they were expelled in the 1600s. A lot of the rest was taken by English privateers (Drake, Grenville, Anson, that lot).
By 1700, the British were taking most of treasures that the Spanish were bringing back to a point they went broke. That and the never ending war in the Netherlands.
I recommend Imperial Spain 1469-1716, by Elliot.
Spanish gold was coined out and remained in circulation for 350 years, for one thing. That windfall led to Spain's being so rich that the serfs could afford servants, but, as in some of the OPEC member states today, there wasn't any other industry or innovation. There were no giant piles of bullion in Seville, it was all spent. Those palaces used to come in handy for Hollywood movies though.