Colorado Mine Developing Co. - 1880's dated Colorado Mining Stock Certificate
Inv# MS1008 Stock
Mining Stock. Very interesting vignette of men working in the mines! Very Rare!!! The Leadville mining district, situated within the Colorado Mineral Belt, was the most prolific silver-mining area in the state of Colorado and contains one of the largest lead-zinc-silver deposits globally.
Oro City, an early gold placer mining settlement in Colorado, is located approximately one mile east of Leadville in California Gulch. This town was the site of one of the richest placer gold discoveries in Colorado, with an estimated gold output of 120,000–150,000 ozt (8,200–10,300 lb; 3,700–4,700 kg), valued at $2.5 to $3 million based on the then-current price of $20.67 per troy ounce.
By 1963, the cumulative production totaled 240 million troy ounces (16 million pounds; 7.5 million kilograms) of silver, three million troy ounces (210 thousand pounds; 93 thousand kilograms) of gold, 987 million tonnes (2.2 trillion pounds; 987 billion kilograms) of lead, 712 million tonnes (1.6 trillion pounds; 712 billion kilograms) of zinc, and 48 million tonnes (110 billion pounds; 48 billion kilograms) of copper. Additionally, the district yielded byproduct bismuth and iron-manganese ore.
Gold was discovered in this region in late 1859, during the Pike's Peak Gold Rush. However, the initial find, where California Gulch flows into the Arkansas River, lacked sufficient richness to generate excitement. On April 26, 1860, Abe Lee made a significant discovery of placer gold in California Gulch, approximately a mile east of Leadville, leading to the establishment of Oro City at the new diggings.
By July 1860, the gold rush had commenced; the town and its surrounding areas expanded to a population of 10,000, and an estimated $2 million in gold (equivalent to $70 million today) was extracted from California Gulch and the nearby Iowa Gulch by the end of the first summer. However, within a few years, the richest sections of the placers were depleted, and Oro City's population dwindled to just a few hundred. Many claims were consolidated and worked through ground sluicing. In 1877, a ditch was constructed to supply water for hydraulic mining, but reports indicated that the hydraulic mining efforts were unsuccessful.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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