Object Details
- United States Mint
- Oregon Exchange Company
- Description
- In 1848, the largest single gold rush in history was just getting under way in California. This event soon triggered a mass migration of fortune hunters from around the world. At the outset, much of the California gold was converted to coins by private minters in the San Francisco area. However, supplies of gold were also sent to Philadelphia where the metal was turned into ordinary federal coins.
- Smaller quantities of gold made it to various locations including Oregon. Between March and September, 1849, an entity calling itself the Oregon Exchange Company struck $10 and $5 coins, by hand, in Oregon City. Both denominations bore simple designs. Their obverses depicted a beaver, the fur-bearing mammal that had spurred the first interest in the region. Above the animal, there were initials standing for the last names of the principal players in the operation.
- The initials O.T. or T.O. (both for Oregon Territory) and the date rounded out the obverse design. For the reverse, the name of the issuing authority and the denomination sufficed. Scholars believe that around 2,850 of the $10 coins were made. Dies for them can still be seen at the Oregon Historical Society in Portland.
- But the life of the Oregon mint was brief. The coiners set their products' weight above federal norms, and most of the Oregon coinage was melted down for profit. The mint ceased operation early in September 1849.
- Credit Line
- U.S. Department of the Treasury, U.S. Mint
- 1849
- ID Number
- 1985.0441.2216
- catalog number
- 1985.0441.2216
- accession number
- 1985.0441
- Object Name
- coin
- Physical Description
- gold (overall metal)
- 0 (overall die axis)
- 0 (overall die axis measurement)
- struck (overall production method)
- Measurements
- overall: 2 mm x 27 mm; 3/32 in x 1 1/16 in
- place of issue
- United States: Oregon
- Related Publication
- Glossary of Coins and Currency Terms
- Related Web Publication
- http://americanhistory.si.edu/coins/glossary.cfm
- See more items in
- Work and Industry: National Numismatic Collection
- Coins
- Numismatics
- Coins, Currency and Medals
- Legendary Coins
- Exhibition
- The Value of Money
- Exhibition Location
- National Museum of American History
- National Museum of American History
- Record ID
- nmah_1102301
- GUID (Link to Original Record)
- http://n2t.net/ark:/65665/ng49ca746ab-3c3e-704b-e053-15f76fa0b4fa
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