SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, D.C.  20549


                               FORM 10-K



                 (x)ANNAL REPORT PURSUANT TO SECTION 13 OR 15 (d)
               OF THE SECURITIES EXCHANGE ACT OF 1934 (no fee required)



               For the fiscal year ended December 31, 2010
                    Commission File No. 001-10156



                        ORIGINAL SIXTEEN TO ONE MINE, INC.
                (Exact name of registrant as specified in its charter)



                   CALIFORNIA                            94-0735390
      (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporation or organization)

                     Post Office Box 909, Alleghany, CA  95910
                      (Address of principal executive offices)


                                    (530) 287-3223
                            (Registrant's telephone number)
                                (including area code)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the past 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing
requirement for the past 90 days.

                        Yes:                        No:   x



As of December 31, 2010, 13,399,505 shares of Common Stock, par value $.03 per
share, were issued and outstanding.



PART I

GENERAL NOTE

In accordance with directive from the Securities and Exchange Commission
(SEC) and Industry Guide 7, reference for all intent and purposes to the
Company's employees as miners, its properties as mines or its operation as
mining does not diminish the fact that the Company has no proven reserves and
is in the "exploration state" as defined in Guide 7(a)(4)(iii).

ITEM 1:  BUSINESS

Description of Business

Original Sixteen to One Mine, Inc. (the Company) was incorporated in 1911 in
California. It mines gold on properties it owns in fee simple or on which it has
claims in the Alleghany Mining District, about 65 miles northeast of the
intersection of I-80 and California State Route 49.

The primary operation is the Sixteen to One mine from which more than 1,111,628
troy ounces of gold have been retrieved since the mine commenced operation in
1896.  It is a traditional hard rock underground mine where employees create
horizontal levels at various elevations and raise into favorable areas.  The
geology of the mineral deposit is well documented.  Gold is not distributed
evenly within the quartz veins; however, concentrations of gold deposits are
found scattered within these quartz veins.  Because the gold appears
intermittently, the Company has never declared reserves according to
contemporary industry standards.

Operations are characterized by significant amounts of preparation, tunneling,
underground property maintenance and upgrading, all of which are necessary to
permit access to and extraction of gold.  The Company from time to time focuses
substantially all of its resources on infrastructure development and
maintenance, and during these periods, little gold is mined.  At other times,
employees are primarily searching for gold.  Accordingly, business is subjected
to two very different cycles, one dependent on whether the Company is directing
its resources towards infrastructure or underground development and the other
as a function of gold production.  The operation resembles the classical "boom
or bust" cycles regardless of outside influences.

Metal detection technology enables exploration to detect gold from zero to 48
inches from quartz faces in the wall rock.  (The size of the concentration is a
factor).  The Company works with others interested in developing new
technologies for deeper penetration.  These arrangements allow the Company to
benefit from research activities without incurring the full costs associated
with research and development.

Advancement in metal detection technology has steadily progressed over the past
nineteen years.  Greater sensitivity in metal detection has historically
increased gold production throughout the mine.  Since the Company lacks the
funds to carry forth scientific research, it is impossible to predict when a new
device will be developed; however, the hardware used in advanced gold detection
has continued to improve.  Also the same physics principles that are used in
governmental programs for Directed Energy Weapons and Security may stimulate
research and development.

For accounting purposes gold revenues are accrued when the metal has been
recovered.  For tax purposes revenues are not recognized until the gold is sold.
Rare highgrade gold and quartz is sold at a premium to museums, collectors and
jewelry manufacturers.  This market has become a significant financial factor
since its beginning in 1993.  Demand for the Sixteen to One gold quartz
gemstone is currently greater than the amount mined.

The Company lacks sufficient funds to implement major construction projects to
significantly increase production of gold.  Sinking a new shaft in the center
of the property is one project.  The company has plans to raise working capital
for this project.  Other mining related projects are: joining a public stock
exchange, building and testing a gold detector specifically designed for the
Sixteen to One vein.  Future development and testing of advanced metal
detection will likely increase the production of gold.

Supplies and equipment used for underground exploration are commonly available.
Labor requirements are available.  The Company believes that within the Sixteen
to One mine substantial exploration opportunities exist.

No particular seasonality exists for the marketing of gold (other than the
Company's gold jewelry sales for which some modest bias toward the fourth
quarter is recorded).  Business is not seasonal except for the adverse
effect of winter storms on the ability of a crew to access the mine.
Management believes it is in substantial compliance with all applicable federal,
state and local laws and regulations relating to the environment.  The Company
does not presently anticipate any material capital expenditures for
environmental control facilities, either for the remainder of its current fiscal
year or for the succeeding fiscal year.

In December of 2007, management elected to discontinue its exploration program
at the Sixteen to One Mine in favor of focusing its attention on surface and
underground repairs and maintenance.  The work is ongoing.

The Company's executive office is located at 527 Miners Street, Alleghany,
California 95910.  It maintains a website: www.origsix.com.

Risk Factors

(a) Price of Gold

The price of gold has increased significantly from the low of $254 in 1999.  Any
significant drop in the price of gold may have an adverse effect on the results
of the Company's operations unless the Company is able to offset such a price
drop by increasing production or jewelry sales.

 (b) Lack of Proven Reserves

Because proven reserves are not utilized as a component for evaluating future
earnings or ore values, a sense of uncertainty of existence arises.  Caution is
recommended in using the doctrines of reserves as an economic tool for valuing
the Sixteen to One mine. While (i) the Company has recovered over one million
ounces of gold and (ii) management believes that substantial additional virgin
veins exists in the Sixteen to One mine, the Company has no ability to measure
using the mathematical tools generally recognized in the mining industry;
however, the company can prove that approximately eighty percent (80%) of its
vein system has not been developed.

(c) Governmental Regulation

The attached financial statements have not been audited by a Securities
Exchange Commission (SEC) accounting firm due to the existence of an unpaid
bill.  Therefore, the Company is not in compliance with this SEC regulation
for companies listed on an exchange.

Mining is generally subjected to regulation by state and federal authorities.
State and federal statutes regulate environmental quality, safety, exploration
procedures, reclamation, employees health and safety, use of explosives, air
quality standards, pollution of stream and fresh water sources, noxious
odors, noise, dust, and other environmental protection controls as well as the
rights of adjoining property owners.  Laws may change preventing or delaying
the commencement or continuance of given operations.

The Company is substantially in compliance with all known safety and
environmental standards and regulations.  There can be no assurance that future
changes in the laws, regulations or reckless interpretations thereof will not
have a material adverse effect.

(d) Liquidity

Gold inventory at December 31, 2010, was $372,199, primarily as specimens or
gold held as jewelry.  While history of actual cash sales supports an
inventory value exceeding the spot price, no such increases are used to compute
the inventory.  The difference in the recorded value and the actual cash value
is a significant increase in determining asset value but cannot be included on
the balance sheet due to accounting rules.  All inventory of raw material is
recorded at spot price per troy ounce.  In addition, contract manufacturing
costs of jewelry are included in the finished jewelry inventory.  Periodic
shortfalls in liquidity occur which are not likely to be bridged by
institutional debt financing.  Management addresses these issues as they arise.

(e) Price of Stock

Bids and offers are publicly recorded on the stock page of the Company's web
site.  Exposure is limited.  The price of stock may not accurately reflect its
fair market value because of the limited marketplace.  The company maintains
no program to support or promote its stock and is unlikely to conduct a program
until a public marketplace is secured.

There are conflicting bids, offers and trades between the Company's website
and the unregulated Pink Sheet Gray Market, ticker symbol OSTO.  Because of
these discrepancies the market price is unpredictable.


ITEM 2:  PROPERTIES

Properties

The Sixteen to One mine was incorporated into Original Sixteen to One Mine, Inc.
in 1911.  Properties acquired prior to 1925 are carried on the Company's books
at their original purchase price and are fully amortized through depletion.

In 1999, the Company acquired the Plumbago mine in the Alleghany Mining
District, which is located approximately two miles southeast of the Sixteen to
One mine. The property includes a twenty-acre patented claim, mineral rights to
eight patented claims and sixteen unpatented claims.  The property has a
history of rich gold production.  The Company will pursue the potential within
this property when funding becomes available for exploration and development.

On June 22, 2005, the Company acquired the mineral rights to fourteen claims,
the patent rights to one claim and the mill of the Gold Crown mine, adjacent to
the Sixteen to One Mine. The Board of Directors decided that it is a long-term
investment and important to the long-term welfare of the Company.
No depletion has been applied to the Gold Crown or Plumbago properties.

The Brown Bear Mine was listed with Coldwell Banker at Trinity Alps Realty on
May 27, 2009.  Escrow opened with a related party on November 17, 2009 with a
sale price of $580,000.  Escrow closed in January 2010.  The company has a
three-year option to buy back the property.

The Alleghany properties consist of 26 patented claims (470 acres), 160 acres of
mineral rights on patented claims and approximately 320 acres of unpatented
claims.  The following table sets forth further information with respect to the
Company's mining claims.

PATENTED MINING CLAIMS OWNED 100% BY THE COMPANY

     NAME OF CLAIM                 NAME OF CLAIM

     Belmont                       Rainbow Fraction
     Number Three                  Twenty-One
     Eclipse Quartz                Eclipse Extension
     Tightner Extension            Contract
     Alene                         Valentine
     Red Star                      Bartlett
     Farnham Gold Quartz Mine      Belmont #2
     Contract Extension            Hanley Quartz Mine
     Noble                         Sixteen to One
     Groves Gold Quartz Mine       Denver
     Happy Jack Extension          Ophir
     Rainbow Extension             Happy Jack
     Marion Lode                   Sphoon

MINERAL RIGHTS - PATENTED CLAIMS

     NAME OF CLAIM               NAME OF CLAIM

     Standard Lode               Standard Lode Extension
     Gold Beater Lode            Clute Lode
     Hope Extension Lode         Crafts Lode
     Plumbago Mine Mill Site     Enterprise Quartz


UNPATENTED CLAIMS

     NAME OF CLAIM               NAME OF CLAIM

      Alice                     Alice Annex
      General Sherman N. Ext.   Jumbo
      No Better                 No Better Ext.
      Right Place               Wonder #1
      Wonder #2                 Wonder Goldmines MS

ITEM 3:  LEGAL PROCEEDINGS

In July the Company and its president were served a complaint for damages in
Superior Court of the State of California, County of Sierra by the California
Regional Water Quality Control Board, Central Valley Region.  Both defendants
filed an answer on August 20, 2009 denying that the state is entitled to any
damages.  Sierra County Superior Court Case No. 7019.  Discovery is in process.

On January 6, 2010, the California Department of Conservation, formerly the
Division of Mines and Geology filed a complaint for statutory reporting and
mining fees and penalties alleging failures by the Company.  Various Public
Resources Code Sections were cited substantially related to surface mining.
On March 24, 2010, the Company filed verified answers denying any wrongdoing.
Sierra County Superior Court Case No. 7097
Discovery is ongoing.

ITEM 4:  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable

PART II

ITEM 5:  MARKET FOR THE REGISTRANT'S COMMON EQUITY
AND RELATED STOCKHOLDER MATTERS

Market Information

Currently there is no public marketplace for the Company's common stock. Data
from 2000 through 2010 is based upon activity on the X-Mart posted on the
Company's web-site.

            1st Quarter     2nd Quarter     3rd Quarter      4th Quarter
            High    Low     High    Low     High    Low      High    Low
           ------  -----   ------  -----   ------  -----    ------  -----
    2010  $   *   $   *   $  .89  $  .45   $  *  $   *   $    .55  $  .50
    2009     .60     .45      *       *       .40    .40     ..45     .60
    2008     .89     .75     .89     .75      *        *        *     *
    2007    1.00     .80     .95     .90     .90     .85     .88      .88
    2006    1.00     .75    1.00     .75    1.00    1.00    1.00      .95
    2005    .65      .60     .75     .50     .60     .60    1.00      .40
    2004    .83      .62     .75     .72    1.00     .60     .75      .42
    2003    .90      .85     .83     .38     .70     .50      .60     .60
    2002    .86      .22     .86     .60     .32     .20      .55     .20
    2001    .234    .167    .400    .250    .300    .267      .400   .150

* No trades took place on our website in these quarters.

Note:  The Company offered a 3 for 1 stock split in 2001.  Accordingly, share
and per share data has been restated for all periods presented to give effect
to the split.

ITEM 6:  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATION

Balance Sheet

Original Sixteen to One Mine, Inc. is a distinct company in that it is the
only operating company of its kind remaining in the United States.  Management
believes that the assets of the Company are understated.  Gold inventory is
recorded at spot price despite proven additional value for specimen and gem-
stone material which is substantially greater than spot price.  On hand jewelry
is recorded at labor plus gold cost.

No value is recorded on the balance sheet for timber.  The company owns 470
acres of prime forested timberland.  No value is recorded on the balance sheet
for the Company owned water-rights.  Reduced value is recorded on the balance
sheet for buildings, equipment and land.  No value is recorded on the balance
sheet for marketable aggregate and decorative stone currently stockpiled on the
property.  No value is recorded on the balance sheet for goodwill.  Fixed assets
are recorded at historic cost less depreciation.


Balance Sheet

Balance Sheet Comparisons

(a) Comparisons of 2010 with 2009.

Assets:
For the one-year period ended December 31, 2010:

Current assets decreased by $44,611 (10%) due primarily to a decrease in
inventory which was sold to maintain operations.

Mining property decreased by $297,354 (52%) due to the sale of the Brown Bear
Mine.  (see note 4 at end of financial statements).

Vehicles decreased by $149,714 (58%) and equipment decreased by $114,839 (12%)
due to the write-off of old vehicles and equipment no longer in use.  These
assets were fully depreciated.  The write-off of these assets along with all
accumulated depreciation, combined with new depreciation of $17,414, resulted
in the net decrease of $16,044 in Fixed Assets.

Liabilites:

For the one-year period ended December 31, 2010:

Accounts payable & accrued expenses increased by $169,063 (26%) due primarily
to increases in accounts payable and accrued wages.

Notes due to related parties reflects a decrease of $342,707 (53%) primarily
due to an advance on the sale of the brown bear mine that was posted to this
account in 2009 and applied to the sale of the asset in Jan. 2010 with the
closing of escrow.

Notes payable due within one year decreased by $58,700 (100%) as the note to
Gold Country Lenders was satisfied.

Statement of Operations

(b) Comparison of 2010 with 2009

Income:
For the one-year period ended December 31, 2010 compared to the one-year period
ended December 31, 2009 revenue decreased by $56,306 (28%) due to more sales
in 2009 than 2010.

Operating Expenses:
For the one-year period ended December 31,2010 compared to the one-year period
ended December 31,2009 operating expenses increased by $325,047 (120%).
A small crew was hired in 2010 to do rehab and maintenance work, the increased
operating expenses related directly to the crew are: Salaries and Wages
increased $132,811 (194%), taxes (includes payroll taxes) increased $16,413
(67%) and insurance increased $38,827 (5,102%) due to an exorbitant worker's,
compensation insurance premium.  The increased activity at the mine also
resulted in an increase in utilities of $28,279 (65%), supplies increased
$70,878 (487%), small equipment and repairs increased $6,112 (55%), drayage
increased $12,866 (84%), compliance/safety increased $1,998 (152%), and other
operating expensed increased by $19,286 (174%).

Other Expenses:
Other expenses decreased by $205,983 (85%) primarily due to less interest
expense in 2010 than 2009.

Other Income:
Other income increased by $209,380 (208%) due primarily to the gain on the sale
of the Brown Bear Mine.

For the one-year period ended December 31, 2010 the company showed a loss of
$181,063 compared to a loss of $215,873 for the same period in 2009.  The 16%
difference can be attributed to the sale of the Brown Bear Mine.

The basic and diluted loss per share of .01 per share was about the same for
both years.  The number of shares used in the 2010 calculation was 13,399,505
and for the 2009 calculation 13,373,505 shares were used.

(c) Comparison of 2009 with 2008

Income:
For the one-year period ended December 31, 2009 compared to the one-year period
ended December 31, 2008 revenue increased by $92,583 (87%).  This was due
primarily to a large sale of inventory in the third quarter of 2009 to a
related-party lender.  The company has an option to buy back the material.

Expenses:
For the one-year period ended December 31, 2009 compared to the one-year period
ended December 31, 2008 operating expenses decreased by $112,897 (29%) this
was mainly due to a decrease in legal expenses of $84,231.

For the one-year period ended December 31, 2009 the company showed a loss of
$215,873 compared to a loss of $368,330 for the same period in 2008.  The 41%
difference can be attributed to higher income and lower expenses in 2009.

The basic and diluted loss per share is .01 per share in 2009 compared to
a basic and diluted loss per share of .02 in 2008.

ITEM 7:  SUBSEQUENT EVENTS

Regarding Superior Court of Sierra County Case # 7019 People ex rel. Regional
Water Board vs. Original Sixteen to One Mine Inc.  On March 18, 2011 the
second, third and fourth causes of action were dismissed leaving only the first
cause of action; also, Michael Miller was dismissed as a defendant in the case.

ITEM 8:  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The unaudited financial statements of the Company are attached at the end of
this document.

PART III

ITEM 9:  DIRECTORS AND EXECUTIVE OFFICERS OF REGISTRANT

Officers and Directors

The following table sets forth the Officers and Directors of the Company.  The
directors listed below will serve until the next annual shareholders meeting to
be held on June 25, 2011.  All of the officers of the Company serve at the
pleasure of the Board of Directors.

Name                Age  Position      Officer Since    Director Since

Michael M. Miller    68  President
                          & Director       1983              1977

Scott K. Robertson    54  Treasurer
                          & Director       1999              1999

Hugh Daniel O'Neill   69  Director         N/A               2002

Andrew Yeiser         85  Director        N/A                2010

Rae Bell Arbogast     45  Secretary        2002              N/A

Michael M. Miller-Director, President and CEO

As President and Chief Executive Officer, Mr. Miller is responsible for the
day to day operations of the Company.  In 1975, Mr. Miller became the sole
proprietor of Morning Glory Gold Mines.  Prior to that, he was self-employed in
Santa Barbara County, California from 1965 to 1974.  Mr. Miller served
as a trustee and President of the Sierra County Board of Education (1979 to 1983
trustee) (President in 1983). In 1991 he was appointed a member of the Sierra
County Planning Commission (Chairman in 1992, 1993, 1999 and 2000) until 2001.
Mr. Miller is licensed as a California Class A general engineering contractor.
He is a member of the American Institute of Mining Engineers.   In 1965, Mr.
Miller received a B.A. from the University of California at Santa Barbara in
combined Social Sciences-Economics.  He was born in Sacramento, California.

Scott K. Robertson- Treasurer ~ Director

Scott has been active in the Company as an outside accountant since 1984 and a
director since 1999.  In 1991, Scott co-founded the CPA business and
development firm Robertson, Woodford & Summers, LLP located in Grass Valley,
California.  Currently he is CEO of Emerald Cove Marina, a full service marina
at Bullard's Bar Reservoir and President of the Nevada County Broadcaster's
Inc. a local radio station group.  Scott also serves on the board of a high
tech company and a local toy company.

His community service includes past president of Rotary Club of Grass Valley,
Nevada County Economic Council, Nevada County Business Association and Big
Brothers Big Sisters.

Scott is a graduate of University of Santa Barbara in Business in 1981
receiving his CPA certificate in 1986.  Scott resides in Nevada City,
California with his wife of over 30 years Debra, a graduate of University of
Santa Barbara.  They have three sons, Trevor, Keith and Dan.

Hugh Daniel O'Neill III ~ Director

Mr. O'Neill was born April 21, 1942 at a naval base in Virginia. He was raised
in seventeen states over a fourteen-year period, settling in Nevada City,
California. He attended the University of San Francisco, where he created Odd
Bodkins in 1961. The San Francisco Chronicle syndicated Odd Bodkins in 1963
making Mr. O'Neill the youngest cartoonist ever hired by a national syndicate.
It was published in 350 newspapers. At its peak readership was 50 million
daily. Dan is an historian, an accomplished journalist and a former War
Correspondent.

Andrew Yeiser ~ Director

Andrew Yeiser has taken an active interest in Original Sixteen to One Mine for
19 years.  In 1992, at Michael Miller's request, he took his ground penetrating
radar (GPR) equipment in the mine to investigate the possibility of using GPR
to locate gold deposits at distances greater than the range of metal detectors.
The concept was proven by the detection of echoes from 600 feet away.  "The
mountain is transparent to radar!" was the surprised remark of Lamber Dalphin,
Stanford Research Institute's GPR expert who assisted him.  The proof of
concept was successful, yet the equipment had been designed for surface use and
was not suitable for use in a mine.

Mr. Yeiser holds a BA in Physics from MIT and a MA in Physics from UC Berkely.
He is a professor Emeritus in Computer Engineering at UCLA and UCI and has
taught classes around the world.  His management experience includes: project
manager of the Polaris Atomic Submarine satellite navigation computer, ANBRN-1,
project manager of the first MILSPEC computer, ANUYK-1, Director of the
California State Water Project (Feather River) Completion and Activation Phase
contract at North American Rockwell, project Apollo Lunar Landing Program
Information Systems Director at North American Aviation, and founder and
Director of General systems Industries, Inc., a multidisciplinary company that
included computer, civil and mechanical engineers and behavioral scientists.
Presently Mr. Yeiser is beta testing a GPR system designed specifically for use
in the Sixteen to One Mine and is assisting in mitigating 16 to 1 problems with
the California State Water Quality Control Board.

Rae Bell Arbogast ~ Secretary

Rae Bell was born in Southern California and moved to the Alleghany area with
her family in 1975.  They lived near the Ruby Mine where they relied on skis
and a snowmobile for transportation in the winter.  Her father worked as a
miner at the Ruby and Carson mines.

Rae Bell has been involved with the Sixteen to One Mine since 1996.  Currently
she provides bookkeeping & secretarial services to a few clients in addition to
Original Sixteen to One Mine, Inc.  She serves as a Director of the Alleghany
Water District, Secretary/Treasurer Underground Gold Miners Museum and has held
various board positions with the Fire District since 1996 (currently as
Treasurer).  She has served as a volunteer Emergency Medical Technician with
the Fire Dept. since 1997.  She is a part-time student at Sierra College
majoring in business/accounting.

ITEM 10:  EXECUTIVE COMPENSATION

Remuneration of Directors and Executive Officers

Total compensation for each Director, excluding the President, consists of $750
per meeting attended and an annual $2,000 retainer effective January 1, 1994,
and remains unchanged.

The Company has not paid or distributed and does not pay or distribute cash or
non-cash compensation to officers, directors or employees under any retirement
or pension plans, and has no intent to do so in the future.

Management Remuneration for the Period Ended December 31, 2010

   Name/
Principal       Annual
Position         Year   Salary    Bonus    Compensation  Securities
---------       ------  ------    -----  ------------  ----------

Michael Miller/  2010  $ 60,000       0         0             0
President & CEO  2009  $ 60,000       0         0             0
                 2008  $ 60,000       0         0             0

ITEM 11:  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT

Security Ownership of Certain Beneficial Owners and Management

Title of   Name and Address        Amount and Nature     Percent
 Class   of Beneficial Owner      of Beneficial Owner    of Class
-------  -------------------      -------------------    --------
Common   M. Blair Hull                1,962,822            14.6%
         Hull Trading Co.
         401 So. LaSalle, Ste. 505
         Chicago, IL  60605

Common   Kathy N. Hull                1,490,250             11%
         11 Sierra Ave.
         Piedmont, CA  94611


Common   Michael M. Miller            1,308,597              9.8%
         Officer and Director
         P.O. Box 941
         Alleghany, CA  95910

Common   Charles I. Brown
         Family Partnership LTD         833,668             6%
           P.O. Box 1835
           Edwards, CO 81632

Common   Scott K. Robertson             167,820             1.2%
         Officer and Director
         12391 Deer Park Drive
         Nevada City, CA  95945

Common   Hugh Daniel O'Neill              26,227            .19%
         Director
         227 Prospect St.
         Nevada City, CA  95959

Common   Andrew Yeiser                   18,450            .13%
         Director
         302 Cleveland Dr.
         Huntington Beach, CA 92648

Common   Rae Bell Arbogast               13,158            .01%
         Secretary
         P.O. Box 919
         Alleghany, CA 95910

Common   All Officers & Directors     1,534,252             11%
                (as a group)

ITEM 12: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

See notes to financial statements.

PART IV

ITEM 13:  UNAUDITED FINANCIAL STATEMENTS

In the opinion of management, the financial statements contain all adjustments
(consisting only of normal recurring accruals) necessary to present fairly the
Company's financial position at December 31, 2010 and December 31, 2009, the
results of operations and cash flows for the twelve-month periods ended
December 30, 2008, 2009 and 2010.  The unaudited financial statements have been
prepared in accordance with Generally Accepted Accounting Principles.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time the Original Sixteen to One Mine, Inc.  (the Company), will
make written and oral forward-looking statements about matters that involve
risks and uncertainties that could cause actual results to differ materially
from projected results.  Important factors that could cause actual results to
differ materially include, among others:

- Fluctuations in the market prices of gold
- General domestic and international economic and political
  conditions
- Unexpected geological conditions or rock stability conditions
  resulting in cave-ins, flooding, rock-bursts or rock slides
- Difficulties associated with managing complex operations in remote areas
- Unanticipated milling and other processing problems
- The speculative nature of mineral exploration
- Environmental risks
- Changes in laws and government regulations, including those
  relating to taxes and the environment
- The availability and timing of receipt of necessary governmental
  permits and approval relating to operations, expansion of operations,
  and financing of operations
- Fluctuations in interest rates and other adverse financial market conditions
- Other unanticipated difficulties in obtaining necessary financing with
  specifications or expectations
- Labor relations
- Accidents
- Unusual weather or operating conditions
- Force majeure events
- Other risk factors described from time to time in the Original Sixteen to One
Mine, Inc., filings with the Securities and Exchange Commission

Many of these factors are beyond the Company's ability to control or predict.
Investors are cautioned not to place undue reliance on forward-looking
statements.  The Company disclaims any intent or obligation to update its
forward-looking statements, whether as a result of receiving new information,
the occurrence of future events or otherwise.

SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this Annual Report to
be signed on its behalf by the undersigned, thereunto duly authorized.


ORIGINAL SIXTEEN TO ONE MINE, INC.
Registrant

By: /s/Michael M. Miller
Michael M. Miller
President and Director
Date April 5, 2011

Condensed Balance Sheet

                                       December 31, 2010 & December 31, 2009

ASSETS
                                                        2010        2009
Current Assets
  Cash                                             $  4,956    $    7,321
   Accounts receivable                                3,597         3,711
   Inventory                                        372,199       414,331
   Other current assets                                 -             -
                                                    -------       -------
    Total current assets                            380,752       425,363
                                                    -------       -------

Mining Property
   Real estate and property rights
        net of depletion of $524,145                230,401      230,401
   Mineral property                                  47,976      345,330
                                                    -------      -------
   Total Mining Property (see Note 2)               278,377      575,731
                                                    -------      -------

Fixed Assets at Cost
   Equipment                                        810,404      925,243
   Buildings                                        209,487      209,487
   Vehicles                                         105,414      255,128
                                                  ---------    ---------
  Total fixed assets at cost                      1,125,305    1,389,858
                                                  ---------    ---------
Less accumulated depreciation                   (1,055,357)  (1,303,866)
                                                -----------  -----------
   Net fixed assets                                  69,948       85,992
                                                -----------  -----------

Other Assets
   Bonds and misc. deposits                           7,962        5,460
                                                  ---------      -------

   Total Assets                                  $  737,039   $1,092,546
                                                ==========    ==========


Balance Sheet Continued

LIABILITIES & STOCKHOLDERS' EQUITY
                                                        2010       2009
Current Liabilities
   Accounts payable & accrued expenses (see Note 5) $  817,497   648,434
   Due to related party (see Note 3)                   304,848   647,555
   Notes payable due within one year                      -       58,700
                                                      --------   -------
   Total Current Liabilities                        1,122,345  1,354,689
                                                      --------   -------

Long Term Liabilities
   Notes payable due after one year (see Note 6)        97,236    97,236
                                                      --------   -------
Total Liabilities                                   1,219,581  1,451,925
                                                      --------   -------

Stockholders' Equity
   Capital stock, par value $.03:
   30,000,000 shares authorized: 13,399,505
   issued and outstanding as of December 31, 2010
  13,373,505 shares and as of December 31, 2009    440,656       439,876
   Additional paid-in capital                    2,063,202     2,005,282
   (Accumulated deficit)
   Retained earnings                           (2,986,400)   (2,804,537)
                                              ------------   -----------
   Total Stockholders' Equity                    (482,542)     (359,379)
                                              ------------   -----------

Total Liabilities and Stockholders' Equity       $  737,039   $1,092,546
                                              ============  ============




Original Sixteen to One Mine, Inc.

Statement of Operations

                                                    2010      2009       2008
Revenues:
Gold & jewelry sales                            142,125     198,431    105,848
                                                 ------    -------     -------
   Total Revenues                               142,125     198,431    105,848

Operating expenses:
   Salaries and wages                           201,354      68,543      90,613
   Contract Labor                                42,622      44,946      28,213
   Telephone & utilities                         71,564      43,285      42,672
   Taxes - property & payroll                    40,758      24,345      38,213
   Insurance                                     39,588         761       1,418
   Supplies                                      85,443      14,565      21,490
   Small equipment & repairs                     17,230      11,118       5,725
   Drayage                                       28,179      15,313      22,711
   Corporate expense                             10,543      12,441      12,795
   Legal and accounting                           8,317       4,341      88,572
   Compliance & Safety                            3,314       1,316       2,149
   Depreciation & amortization                   17,414      19,591      19,608
   Other expenses                                30,396      11,110      10,393
                                                 -------     ------      ------
   Total operating expenses                     596,722     271,675     384,572

   Profit (Loss) from operations              (454,597)     (73,244)   (278,724)

Other Income & (Expense):
Interest Expense                               (35,626)    (98,206)   (107,655)
Other expense                                     (874)    (144,277)    (1,171)
Other income                                   310,034      100,654      20,020
                                               ---------   --------   ---------
   Total other (expense) income                273,534   (141,829)    (88,806)

   Profit (Loss) before taxes                 (181,063)   (215,073)   (367,530)

   Income tax expense                              (800)     (800)        (800)

Net (loss) income                          $  (181,863) $ (215,873) $ (368,330)
                                              =========  ==========   =========

Basic and diluted gain (loss) per share      $    (.01)  $   (.01)  $    (.03)
Shares used in the calculation of net
   (loss) income per share                   13,399,505  13,373,505  13,373,505
                                                ========   =========   ========




Original Sixteen to One Mine, Inc.

Statement of Cash Flow
For the Years Ended December 31,                   2010,       2009,      2008

Cash Flows From Operating Activities:
Net profit (loss)                          $  (181,863) $ (215,874) $ (368,330)
Operating activities:
   Depreciation and amortization                 17,414      19,591       19,608
   Gain on retirement of Asset                   (1,370)        -           -
   Decrease(Increase) in accounts receivable        114       (445)       (132)
   Decrease(Increase) in inventory               42,132    217,521      82,268
   Decrease (Increase) in other current assets       -         -            625
   (Decrease) Increase in accounts payable
    accrued expenses and short term notes      (232,344)  (156,735)      94,372
                                                   --------  -------  ---------
Net cash (used) provided by operating activities
                                                355,917)   (135,942)  (171,589)

Cash Flows From Investing Activities:
   Sale (Purchase) of Real Estate               297,354     143,263        -
   (Purchase) sale  of fixed assets                -           -          -
   Other assets Bonds Misc. deposits             (2,502)       -        10,725
                                                  ---------  --------  --------
Net cash (used) provided by investing activities 294,852    143,263     10,725

Cash Flows From Financing Activities
 Increase (decrease) notes payable                   -         -        38,758
 Proceeds from sale of common stock                 780        -        14,499
 Paid in Capital from Shareholders               57,920        -       106,965
                                                --------    --------   --------
 Net cash provided (used) by financing activities 58,700         -      160,222

 (Decrease)increase in cash                      (2,365)      7,321       (642)
 Cash, beginning of period                        7,321       _             642
                                                    ------   -------   --------
 Cash, end of period                            $  4,956    $ 7,321 $       0
                                                  ========    =======  ========


                        NOTES TO THE FINANCIAL STATEMENTS

1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business: Original Sixteen to One Mine, Inc. (the Company) was
incorporated in 1911 and is actively involved in operating a gold mine in
Alleghany, California; currently on maintenance status.  In accordance with
directive from the Securities and Exchange Commission (SEC)and Industry Guide
7, reference for all intent and purposes to the Company's employees as miners,
its properties as mines or its operation as mining does not diminish the fact
that the Company has no proven reserves and is in the "exploration state" as
defined in Guide 7(a)(4)(iii).

Inventory: Inventory consists of gold bullion, specimens and jewelry.  Gold
bullion and specimens are quoted at the market price for gold bullion.  (PM
London Fix on the last day of the quarter.)  The quarterly valuation adjustment
to inventory is recorded as an expense when the value decreases and as revenue
when the value increases and is combined with Gold Sales Revenue on the
Condensed Income Statement.  This serves the dual purpose of fairly presenting
the value of the gold inventory on the balance sheet and adjusts Cost of Goods
Sold to reflect the actual spot gold price.  Jewelry is quoted at the market
price for the gold content plus labor cost.  Gold Bullion and jewelry are
accounted for using the FIFO method.  Specimens are accounted for using the
specific identification method.

Fixed Assets:  Fixed assets are stated at historical cost.  Depreciation is
calculated using straight-line and accelerated methods over the following
useful lives: Vehicles 3 to 5 years, Equipment 5 to 7 years, Buildings 18 to
31.5 years.

Depletion Policy:  Because of the geological formation in the Alleghany Mining
District, estimates of ore reserves currently cannot be calculated, and
accordingly, a cost per unit depletion factor cannot be determined.  Should
estimates of ore reserves become available, the units of production method of
depletion will be used.  Until such time, no depletion deduction will be
recorded.

Revenue Recognition:  As they are mined, gold specimens are recorded in
inventory and revenue is recognized using quoted market prices for gold.
For income tax purposes revenues are not recognized until the gold is sold.

Use of Estimates:  The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions.  These estimates and assumptions affect the reported amounts
of assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting period.  Actual
results could differ from these estimates.


2. PROPERTY

The company's original property is carried at the 1924 value of $628,662
and has been fully amortized through depletion charges of $524,145.  Other
properties included in the "real estate and property rights" category are
a lot purchased in 1984 for $1,000, Surface rights purchased at the townsite
auction in 1996 for $76,574 and $48,310 for the Sphoon Mine which is patented
property included with the purchase of the Gold Crown Mine in 2005.  The
category "mineral property includes the Plumbago Mine which was exchanged for
50,000 shares of restricted stock in 1999 and ten unpatented mining claims.

3. NOTES PAYABLE RELATED PARTIES

Notes payable related parties at December 31, 2010 was $304,848 consisting of
$259,848 in loans from Michael Miller secured by real-estate.  Interest is
charged on this loan on a reimbursement basis based on the interest charged on
Michael Miller's personal line of credit at Citizen's bank.  The remaining
$45,000 in this account is owed to two shareholders.

4. RELATED PARTY TRANSACTIONS

The Brown Bear Mine was listed with Coldwell Banker at Trinity Alps Realty on
May 27, 2009.  A related party purchased the Brown Bear Mine and offered
the Company a three-year buy-back option.  Escrow opened on November 17, 2009
with a sale price of $580,000.  Escrow closed in January 2010.

5. ACCOUNTS PAYABLE & ACCRUED EXPENSES

Accounts payable and accrued expenses was $817,497 at December 31, 2010.  This
balance includes $385,695 in accrued wages owed to Michael Miller, $12,000 in
accrued wages owed to an employee and $29,000 owed to independent contractors
and secured with gold.

6. NOTES PAYABLE

Notes payable due after one year of $97,236 is the balance remaining on the
mortgage for the Gold Crown Mine.  The Company is behind on its payments and
interest has not been accrued on this note.

7.  STOCK

Capital authorized: 30,000,000 non-assessable shares of common stock,
par value $.03.  Issued and outstanding: 13,399,505 shares of common stock.
At December 31, 2010, 2,797,299 shares were restricted.  Restricted common stock
cannot be sold within two years of the issuance date.  After the required
holding period, the shareholder can take steps to remove the indicated
restriction.