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The Colorado Gold Rush (1858-1859) ignited a surge of prospectors to the region, particularly near present-day Denver, seeking fortune in newly discovered gold deposits. Recognizing a lucrative opportunity, Clark, Gruber & Co., a Leavenworth, Kansas banking firm led by Austin M. Clark, Milton Edward Clark, and Emanuel Henry Gruber, established a private mint in Denver to process local gold. Before their operation, shipping raw gold to the Philadelphia Mint involved costly insurance and express charges totaling 10%, along with significant delays lasting weeks or even months. To resolve this issue, Clark, Gruber & Co. began striking gold coins directly from native Colorado gold.
By December 1859, Milton E. Clark traveled to New York and Philadelphia to acquire coining and metal-processing equipment, reportedly ordering dies from Bailey & Co., a renowned Philadelphia jewelry firm. Their Denver mint, located at what would later become Market and 16th Streets, received its coining machinery in April 1860, delivered via an ox-drawn wagon. Production officially commenced on July 25, 1860, with the Rocky Mountain News reporting the first batch of $10 gold pieces, which dropped into a tin pail with a distinctive “musical clink.” Within the first run, approximately $1,000 worth of gold coins were struck at a rate of 15-20 coins per minute.
Initially, Clark, Gruber & Co. minted $10 and $20 gold coins, later expanding their production to include $2.50 and $5 denominations. By October 1860, their gold coins were widely accepted throughout Colorado Territory, with an estimated $120,000 worth of gold coinage in circulation. These historic Colorado gold coins remain highly sought after by collectors due to their scarcity, historical significance, and connection to the early days of Colorado's gold economy.
For collectors and investors looking for rare gold coins from the Colorado Gold Rush, Clark, Gruber & Co. gold coinage represents an important chapter in American numismatic history. Explore our curated selection of Colorado Territorial gold coins at ParadimeCoins.com, where history and numismatic excellence come together.
