After the conquest of King James I, Valencia entered a new phase of its history as the nucleus of the new Kingdom of Valencia. During the 14th century, Valencia suffered serious setbacks, as riots, the Black Death, and different wars unbalanced daily life in the city.  However, the dynamic and powerful economy of the city kept it from full decline.  Because of this, the 15th century was a Golden Age for the city following the events of the 1300s. However, this early splendor broke during the 1500s due to financial decline and a crisis within the city’s guilds.