The Austin Report

News - Gold Prices - Silver Prices - Opinions

January 19, 2021
  • 📈 Live Gold Silver Price Charts
  • Gold Bullion Investments
  • Buy Gold, Buy Cheap, Buy Now
  • How to Sell Coins, We Buy Coins
  • Home
  • Gold Prices
    • Gold Price Charts
    • Historical Gold Prices 2000–2020
    • A Time for Gold…Again
  • Debt Matters
  • Gold Articles
    • Banks Hoard Another 1,300 Tons of Gold
    • Reasons to Buy Gold Now
    • 56 Gold Forecasts $3,000 to $20,000
    • Why Buy Gold
    • Scams, Nasty Gold Scams
  • Silver News
    • Silver Investors ETPs Surpass One Billion Ounces
    • Silver’s Time Has Come Again With 44% Gains
    • Silver Coin Highlights the Simpsons
    • Silver Updates
  • Stock Bubble?
    • Dow Stocks vs Gold vs Dollar Chart

U.S. Mint Denver “D” mint mark. …

U.S. Mint Denver “D” mint mark. …

Denver, Colorado 1906-Date, “D”

As early as  1862, the government recognized the need to support the Colorado Gold Rush. They purchased the Clark-Gruber banking facility for $25,000 establish a branch mint.

Native American tribes were still roaming the West and hostilities prevented the Denver facility of officially opening as a branch mint and minting coinage. Officials decided to provide Gold miners with a givernment assay office which opened in September Of 1863.

Miners brought in their raw Gold where is was melted down and assayed, then and made into Gold bars. Each bars was stamped with the fineness and the inscription “U.S. BRANCH MINT, DENVER.”

The weight, fineness, and official U.S. Mint inscription then allowed the Gold bars to be bought, sold, or traded. It wasn’t quite money in the form of Gold Coins, but it did permit miners to trade their successful work efforts for payment acceptable in Denver general stores for food, mining tools, and supplies.

By 1877, major gold and silver discoveries across Colorado, led Congress to establish the ??? Denver Mint. Coinage operations finally began on February 1, 1906, advancing the status of the Denver facility to Branch Mint.

Gold Coins were minted in Denver from…

Morgan Silver Dollars

Peace Silver Dollars

Other coins ???

 

Clark, Gruber & Co.

Let’s be clear, Clark Guber & Company was not a U.S. Mint. It was however one of the most noteworthy private mints in history. Gold coins they issued are highly prized collectibles today among serious rare coin collectors. They are authenticated and graded by PCGS and NGC as if they were official legal tender making them easy for collectors to buy, sell, and trade todayClark Guber & Co Bank & Mint

The predecessors of the Denver Mint were mint operators of Clark, Gruber and Company. During the Pikes Peak Gold Rush, Miners would bring in Gold dust and nuggets they accumulated in the Gold fields and would coin them into standard sized private coins which were readily accepted in commerce.

Gruber and Co. established an office in Denver at the beginning of the Colorado Gold Rush to save on shipping and insurance costs associated with shipping Gold back east by consolidating the raw Gold into xxx % Gold co7n.

On 25 July 1860, the mint opened in a two-story brick building on the corner of Market and 16th Streets,

AUCTION RECORD: $111,625 • MS63 • 04-23-2014 • Heritage Auctions

In July of 1860, the minting $10 gold pieces began at the rate of “fifteen or twenty coins a minute”. “On the face is a representation of Pike Peak, the base surrounded by a forest of timber and ‘Pikes Peak Gold’ encircling the summit.

Under is the word ‘Denver and beneath it ‘Ten D.’. On the reverse is the American Eagle encircled by the name of the firm ‘Clark, Gruber & Co.’, and beneath the date, ‘1860’.”

A $20 gold coin was added, “the weight will be greater, but the value the same as the United States coin of like denomination”. A $5 and a $2.5 gold coin were added, with production reaching $18,000 per week.

In just three years, the private mint struck $594,305 worth of Pike’s Peak Gold into the form of private Gold Coins. Company records show they also purchased 77,000 troy ounces of raw gold and shipped “large amounts of dust” to the Philadelphia Mint.

The building, assaying and minting equipment was formally bought by the US Treasury in April 1863. Clark, Gruber & Co. remained a bank until bought by the First National Bank of Denver in 1865.

We’ve told the Guber & Co. story here since their coin minting operation was purchased outright by the U.S. Mint in 1863. We also feel it’s interesting to see how businessmen stepped in to fill the demand to produce money when the government back in Washington was slow to meet the need out West.

POPUP LINK

 

Don’t Miss These

  • 2020 Profit—Loss by Asset Class
  • 2021 Gold Price Forecasts
  • A Cost Analysis of Covid-19… So Far $16 Trillion
  • A Gold Buying Checklist 2021
  • A New Dictionary for Pandemic Times
  • As Central Banks Buy Gold, We Ask Why?
  • Barbarous Relic— Not Gold
  • Central Banks Selling in November
  • Cryptocurrency Con
  • Gold Bullion— A Unique Investment
  • Gold Millionaires
  • Gold Price Chart
  • Gold Prices
  • Historical Gold Prices 2000–2020
  • Homepage
  • More About Us
  • Reasons to Buy Gold
  • Scams, Nasty Gold Scams
  • Ship Of Gold 1857 Shipwreck
  • Silver Coin Highlights the Simpsons
  • Silver Prices
  • Thanks A Lot Federal Reserve
  • The Case for Gold
  • U.S. Dollar Chart 2020 Downtrend
  • US Mints
  • We Buy Coins
  • Why Fake News

RSS Gold News

  • Indian Gold Market Shows Signs of Revival January 19, 2021
  • Peter Schiff: Inflation Is Really a Tax January 19, 2021
  • ETFs Charted Record Gold Inflows in 2020; Holdings Hit All-Time High January 17, 2021
  • Peter Schiff: Economic “Rescue” Plan Like Throwing a Drowning Man an Anchor January 17, 2021
  • Fun on Friday: What a Find! January 15, 2021
  • Spend! Spend! Spend! SchiffGold Friday Gold Wrap Jan. 15, 2021 January 15, 2021

Recent Posts

  • Corporate Bankruptcies 2nd Only to Great Recession
  • Breaking Metals Market Update!
  • Stock Investors Remain Optimistic
  • You Can’t Borrow Your Way Out of Debt
  • Boom, Bust, Inflate… Inflation Ouch!
  • Record Year for Gold— Up 24%
  • Pandemic Rages On Past First Year Anniversary
  • On the Bright Side of 2021

Buying or Selling? We Recommend:

  • Roxanne Byrd Austin Advisor
  • Austin Rare Coins, Inc.
  • 1-800-549-2392
  • Roxanne@AustinCoins.com

Tag Cloud

Gold Investing Covid19 Pandemic Stock Market Bubble U.S. Debt Bomb My Diary Silver Investing Inflation U.S. Dollar Decline Boom and Bust Platinum Negative Interest Rates Rare Coins Energy Palladium
© 2020 ByrdPro, Inc.