In past articles I covered the first national bank chartered in California and the first national bank chartered on the Pacific Coast. In this post I'll share some of the incredible history of the first national bank chartered west of the Great Plains, the First National Bank of Denver. 
This bank's history incorporates a gold rush, a private mint, a national bank, and ultimately a Federal mint. This is truly amazing.
Our story begins in Leavenworth, Kansas Territory , in 1855 when Milton Clark set up shop as a grocer. Within two years, Clark, his brother Austin, and Emanuel Gruber formed Clark, Gruber & Co. to capitalize on the recent gold rush at Pikes Peak, Colorado. In 1860, they built a two story building in Denver.
Clark, Gruber & Co. bought gold dust with the idea that they would transport the gold back East to Federal mints. Huge transportation costs, however, sparked their interest in setting up their own mint to coin the gold with standard mint value. This would save the transportation cost and provide a valuable source of local exchange.
Very quickly, the firm earned a reputation as honest and trustworthy, with an exceptionally fast turnaround. The firm acquired minting equipment in Boston and made their services available to the public on July 5, 1860.
Over the next two years the firm minted thousands of gold coins ranging in value from $2 ½ to $20. Although most of the coins contained designs similar to the Federal issues of the day, their most famous designs contain a picture of Pikes Peak to pay tribute to the source of the bullion. Interestingly, the engraver had never seen Pike's Peak so the design bears no resemblance to the real mountain.
Following three years of frenzied private coining, Clark, Gruber & Co. sold their minting and refining business to Uncle Sam in 1862, when Congress established the mint in Denver. The Department of Treasury, however, used these facilities only as an assay office and depository for over forty years.
Amazingly, our story does not end here. The Treasury Department finally did convert this facility in 1906 to a full-fledged mint. From 1906 forward, billions of coins have been struck at the Denver Mint with the "D" mintmark.
You may ask, then, what connection does this have with Wells Fargo beyond having a parallel history to Wells Fargo itself? Well, their parallel history intersected over a century later....
After Clark, Gruber & Co. sold their refining and minting operation to Uncle Sam, they continued in the banking business. Although the company had issued their own banknotes, redeemable in gold at a time when Federal currency was not convertible, they elected to charter a national bank in 1865. The First National Bank of Denver received OCC Charter number 1016. Over the next several decades, First National Bank of Denver continued to grow, and merged with other Denver firms such as Merchants National Bank in 1881 and Capitol National Bank in 1912.
In an effort to signify its heft in the intermountain region, First National Bank of Denver renamed itself to Intrawest Bank of Denver in 1982. Exactly one year later, Intrawest merged with First Interstate Bank of Denver, NA. This institution was acquired by Wells Fargo thirteen years later, and changed its name to Wells Fargo Bank (Colorado), NA on June 1, 1997.
At this point the premier bank of the Pike's Peak Gold Rush merged into the premier bank of the California Gold Rush. And while many people assume that Wells Fargo has produced coins or ingots (which we have not!), Wells Fargo can proudly say that it does have a private mint in its heritage.
If you're interested in reading more, the American Numismatic Association published a fascinating article on Clark, Gruber & Co. (pdf) in their July, 2006 magazine.
Oh, and next time you check your pocket change and find coins from the Denver Mint, tip your hat to Clark, Gruber & Co. — one of the many outstanding limbs of the Wells Fargo family tree!
what is the bank name
Uh... Wells Fargo?
Clark, Gruber & Co. and the First National Bank of Denver
By Ryan is really an awesome article on the first national bank of denver.
thanks for the great info sharing and
Thanks for the great reading, we buy Gold in a recession. I will pass this on to our Ira clients to read.