Colorado Gold: The 125th Anniversary of the Denver Mint
This week signifies the 125th anniversary of the famed Denver Mint’s authorization. Prior to the Denver Mint’s opening, the only Mint branch in the Western United States resided in San Francisco, which came as a direct result of the California Gold Rush. As prospectors filled their pockets in the Golden State, they branched out to other states in the southwest in hopes of striking it rich. In 1858, enormous quantities of gold were discovered near the Rocky Mountains in Colorado. “Pike’s Peak or Bust!” became the slogan of the droves of miners who flooded the area, as Pike’s Peak was the highest summit of the mountain range.
As gold was discovered throughout the region, a great demand for assaying, smelting, and stamping ensued. Taking advantage of this situation, the trio of Austin M. Clark, Milton E. Clark, and Emanuel Henry Gruber founded a private mint for miners to bring their newly-discovered gold. By 1860, the private mint known as Clark, Gruber and Company had become the primary location for Colorado gold to be assayed and struck into coinage.
Within its first three years of opening, Clark, Gruber and Company struck $594,305 worth of Colorado gold in the form of $2.5, $5, $10 and $20 gold coins. Upon seeing the economic impact of this private mint, Colorado Governor William Gilpin and federal government officials realized the value of having a U.S. Mint branch in Denver. Legislation for the new mint branch was introduced in December of 1861, and by April of 1862 the mint’s construction was officially authorized. One year later, the U.S. Treasury formally purchased Clark, Gruber and Company’s building and equipment.
Although everyone was eager to get to work by September 1863, a series of Native American revolts and complications from the U.S. Civil War delayed production. So, instead of striking gold coins, the Denver Mint spent its early years assaying and smelting gold as well as producing gold bars. This remained the original Denver Mint building’s fate for the entirety of its existence, as no coins were ever struck there.
In 1896, over thirty years after the Denver Mint’s authorization, a flicker of hope began to shine, as Congress proposed the idea of a new Denver Mint to strike both gold and silver coins. The suggestion was wildly popular, and construction for the new mint commenced in 1897. Nearly, ten years later, on February 1, 1906, the Denver Mint struck its first coin and has not slowed down since.
Today, the Denver Mint is the single largest producer of coins in the world. As a vital player in American economy, there is no doubt that Denver’s impact will forever be felt in the United States.
