The town received market rights in the 14th century and grew to become an important market town. It became an official mining town in 1380 and had the largest street market in the Kingdom of Hungary. Copper mining was an important activity. The metal was processed in furnaces, which were fueled with wood from the surrounding forests. A Gothic bell foundry was established by Konrád Gaal who made a large hanging bell for Louis I of Hungary, and was consequently knighted in 1357. The bells made by Konrád Gaal are still hanging and form an important con legacy of European Gothic metal foundry.
In 1412 Spišská Nová Ves, along with several other Spiš towns, was pawned as loan security by the Hungarian king Sigmund to the Polish king Vladislaus II Jagiełło. This pledge lasted for 360 years.
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