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, 2008
                    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: x                       No:



As of December 31, 2008, 13,373,505 shares of Common Stock, par value $.033 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 miners 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,
miners 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 miners to detect gold from zero to 48 inches
from quartz faces in the wall rock.  (The size of the concentration is a
factor).  Miners work with other companies 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
ten 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 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 mine 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.

In 1994, following a long-standing practice of acquiring inactive productive
mines, the Company purchased the Brown Bear mine in Trinity County, located
outside Lewiston, California.  The property, 540 timbered and patented acres
and twenty-two unpatented claims, has yielded 500,000 troy ounces of
gold.  The mine is underground, yet no excavation exists below the tunnel
entrance (adit level).  During the 1980's the property was extensively core
drilled by Santa Fe Mineral.  These results indicate that within the Brown Bear
mine attractive exploration opportunities exist.  When funding is available,
one specific target has been selected for exploration and development.

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 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 generally modest
effect of winter storms on the ability of the miners 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 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 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, 2008, was $631,852, 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.  The
Company has acquired additional mining properties for $470,017.  No depletion
has been applied to those properties.

The Alleghany properties consist of 26 patented claims (470 acres) and an
additional 82 unpatented claims and 160 acres of mineral rights on patented
claims.  In 1994, the Company purchased the Brown Bear Mine in the French Gulch
Mining District, consisting of 34 patented claims (540 acres) 22 unpatented
claims (440 acres).  The following table sets forth further information
with respect to the Company's mining claims.


ALLEGHANY DISTRICT:

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


UNPATENTED MINING CLAIMS OWNED 100% BY THE COMPANY

     NAME OF CLAIM               NAME OF CLAIM

     La Jard Lode                Tightner No. 4 Lode
     Tagalog Lode                Bald Mountain Placer #2
     Tightner # 5 Lode           Cumberland Lode
     Oversight Lode              Tightner No. 6 Lode
     Aurora Lode                 Tightner No. 1 Lode
     East Bartlett Lode          Copeland Two Lode
     Tightner No. 2 Lode         Red Star Ext Placer
     Antique Lode                Tightner No. 3 Lode
     Buckeye Placer              Bullion Lode
     Alene Ext Lode              Amethyst Lode
     Lava #1 Lode                Bartlett Ext Lode
     Amethyst Ext Lode           Lava #2 Lode
     Illocano Lode               Mabel Lode
     Lava #3 Lode                Bal Lode
     Margaret Lode               Alling One Lode
     Verde Lode                  Phoebe Lode
     Alling Two Lode             Butterfly Lode
     Blue Jay Lode               Lady Bug Lode
     North Star Lode             Triple M Lode
     South Fork Placer           Honey Bee Lode
     Mayflower Lode              Copeland One Lode
     Bald Mountain Placer        Parkman Placer
     Oregon Creek Placer         Apache
     Patriot                     Patriot Extension
     Tomahawk                    Thunderbolt
     Bradley                     Hercules
     Rattlesnake Quartz          Eclipse
     Eclipse Extension           White Oak
     Dog Wood                    Highview
     Lucky Cross                 Aetna
     Marion Extension            Vaughn #1
     Harold #1                   Vaughn #2
     Harold #2                   Reliance
     Fighting Bob                Plumbago
     Alice                       Alice Annex
     Fifty-fifty                 General Sherman N. Extension
     Heckley                     Hidden Treasure
     Hidden Treasuer Annex       Jumbo
     Right Place                 No Better
     No Better Extension         Wonder Gold Mines Mill site
     Wonder #1                   Wonder #2

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


FRENCH GULCH DISTRICT:

PATENTED MINING CLAIMS OWNED 100% BY THE COMPANY

     NAME OF CLAIM                   NAME OF CLAIM

     Dreadnaught Quartz Lode         Coon Dog Quartz Lode
     North Fork Quartz Lode          Madison Quartz Lode
     North Fork No. 2 Quartz Mine    Martin Quartz Lode
     Gem Quartz Lode                 Brown Bear Ext. Qtz. Lode
     Slide Quartz Lode               Red Diamond Quartz Lode
     Abernathy Quartz Lode           New World Quartz Lode
     North Pole Quartz Lode          Cube Quartz Lode
     White Bear Quartz Lode          Highland Mary Quartz Lode
     Comet Quartz Lode               Dead Horse Quartz Lode
     Monte Cristo Gold Lode          Belmont Quartz Lode
     Rising Sun Quartz Lode          Capital Gold Quartz Lode
     Enterprise Gold Quartz Lode     New World Quartz Lode
     Last Chance Gold Lode           Black Bear Gold Lode
     Barted Gold Quartz Mine         Queen Gold Quartz Gold
     Brown Bear Gold Quartz Mine     Shoofly Gold Mining Claim
     Watt Quartz Lode                Melton Quartz Lode
     Deadwood Placer Mining Lode     Sebastian Placer Quartz
                                       Lode




UNPATENTED MINING CLAIMS OWNED 100% BY THE COMPANY

     NAME OF CLAIM                 NAME OF CLAIM

     Lost Hope                     Cardinal No. 1
     Cardinal No. 2                Cardinal No. 3
     Cardinal No. 4                Cardinal No. 5
     Cardinal Fraction No. 1       Cardinal Fraction No. 2
     Cardinal Fraction No. 3       Cardinal Fraction No. 4
     Cardinal Fraction No. 5       Cardinal Fraction No. 6
     Cardinal Fraction NO. 7       Cardinal Fraction No. 8
     Cardinal Fraction No. 9       Cardinal Fraction No.10
     Coon Dog Extension            Golden Bear No. 1
     Golden Bear No. 2             Luck Boy
     Sunny Point                   Sunny Point No. 2


ITEM 3:  LEGAL PROCEEDINGS

1. Plaintiff in Superior Court of the State of California, County of Sierra
against private lawyers and their employer.  Case filed February 13, 2004.
Case No. 6293, Complaint for Damages (Malicious Prosecution, Intentional
Infliction of Emotional Distress, Intentional Interference with Perspective
Advantage).  Defendants appealed their loss of an anti-slap motion to the
California Appeals Court, Third District which overturned the Superior Court
decision on May 8, 2007.  The Company filed a Petition for Review with the
California Supreme Court on June 18, 2007, which was denied.  On January 7,
2008 Superior Court visiting Judge R. Michael Smith issued an order for
plaintiff Original Sixteen to One Mine, Inc. to reimburse defendants CDAA et al
$88,376 for attorneys fees.  This case is now closed.


PART II

ITEM 4:  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 2002 through 2008 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
           ------  -----   ------  -----   ------  -----    ------  -----
    2008  $  .89  $   .75  $ .89  $  .75  $   *   $  *   $    *   $    *
    2007    1.00     .80     .95     .90     .90     .85     .88      .88
    2006    1.00     375    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
    2000    .333    .187    .354    .210    .397    .210      .333   .127
    1999    .357    .230    .417    .167    .354    .230      .354   .210
    1998    .730    .544    .687    .520    .687    .294      .417   .294

* 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.

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 5:  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 1,000
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 2007 with 2008.

Assets:
For the one-year period ended December 31, 2008:

Gold Inventory decreased by $82,268 (11%) as inventory was depleted through
Sales and was not replaced.

Bonds and miscellaneous deposits decreased by $10,725 (66%) due to a decrease
in the deposit amount required by our power supplier, PG&E.

Liabilites:
For the one-year period ended December 31, 2008:

Accounts payable increased by $82,268 (11%) due in large part to a judgment
rendered against the company in January 2008 in the amount of $88,376.  See Item
3 Legal Proceedings for details.

Long Term liabilities increased by $38,758 (66%) as the Company failed to make
payments on one if its notes and interest was added to the balance due.

Statement of Operations

(b) Comparison of 2008 with 2007

Revenue:

For the twelve-month period ended December 31, 2008 revenues decreased by
$547,788 (84%) compared to the same period in 2007 due to the mine being on
a maintenance only schedule and the resulting absence of gold production in
2008.

Expenses:

Salaries and wages increased by $16,399 (22%) as accrued wages to office staff
previously booked to contract labor were booked to this account in 2008.

Contract labor decreased by $487,948 (95%) for the year ended December 31, 2008
compared to 2007 due to a skeleton crew conducting maintenance only in 2008.

Utilities decreased by $26,904 (39%) due to less activity in 2008 compared to
2007.

Supplies decreased by $24,137 (52%) due to less activity in 2008 compared to
2007.

Small equipment and repairs decreased by $20,121 (78%) due to the mine being on
Maintenance-only status in 2008.

Drayage decreased by $7,848 (25%) due to the mine being on maintenance-only
Status in 2008.

Legal and accounting increased by $76,801 (652%) due to a judgment rendered
against the company in January 2008 in the amount of $88,376, see Item 3 Legal
Proceedings for details.

Compliance/Safety decreased by $2,664 (55%) due to the mine being on
Maintenance-only status in 2008.


Overall operating expenses decreased by $496,161 (56%) in 2008 compared to 2007.

Loss from operations in 2008 of $278,724 was $51,627 (22%) more than the loss
of $227,097 in 2007 due to a lack of gold production.

The net loss after taxes in 2008 was $368,330 compared to a loss of $290,959 in
2007.  The increased loss was due primarily to a lack of gold production in
2008.

The basic and diluted loss per share is .02 per share in both 2008 and 2007.

Balance Sheet Comparisons

(c) Comparisons of 2006 with 2007.

Assets did not change significantly from December 31, 2006 to December 31,
2007.

Liabilities increased by $237,333 (19%) from December 31, 2006 to December 31,
2007 as the Company relied increasingly on creditors to finance the operation.

Statement of Operations

(d) Comparison of 2007 with 2006

For the twelve months ended December 31, 2007 revenues decreased by $14,450
(17.7%) compared to the same period in 2006 due to minimal gold production in
2007.

Expenses:

Contract labor increased by $71,650 (16%) for the year ended December 31, 2007
compared to 2006 due to a larger crew in 2007.

Utilities increased by $23,659 (51.5%) due to more pumping in 2007 than in 2006.

Taxes increased by $6,797 (20.7%) due to more property taxes and payroll
taxes in 2007 compared to 2006.

Insurance decreased by $606 (23%) due to the removal of vehicles from the
Company's policy in 2007.

Small equipment and repairs increased by $5,858 (29%) due to more equipment
repairs in 2007.

Drayage decreased by $26,196 (46%) as less hauling was done in 2007 than in
2006.

Legal and accounting increased by $3,455 (41.5%) due to a bill for legal
services.

Compliance/Safety decreased by $27,205 (84.9%) due to the purchase of safety
equipment in 2006 that does not need to be replaced for 10 years as well as
penalties booked in 2006.

Depreciation and amortization decreased by $8,073 (27.9%) due to the full
depreciation of aging equipment.

Overall operating expenses increased by $51,956 (6.2%) in 2007 compared to 2006.

Loss from operations in 2007 of $227,097 was $192,406 (554%) more than the loss
of $34,691 in 2006 due to a lack of gold production.

Interest expense increased by $24,867 (30%) due to increased dependence on
creditors in 2007.

Other income increased by $41,828 (567%) primarily due to the sale of a piece
of equipment in 2007.

The net loss after taxes in 2007 was $290,959 compared to a loss of $111,490 in
2006.  The increased loss was due primarily to a lack of gold production in
2007.

The basic and diluted loss per share is .02 per share in 2007 compared to .001
per share in 2006.



SUBSEQUENT EVENTS

None

ITEM 6:  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

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




PART III

ITEM 7:  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 20, 2009.  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    65  President
                          & Director       1983              1977

Scott K. Robertson    51  Treasurer
                          & Director       1999              1999

Hugh Daniel O'Neill   65  Director         N/A               2002

Rae Bell Arbogast     42  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 K. Robertson has been active in the Company since 1984 as an outside
accountant.  In 1992, Mr. Robertson co-founded the CPA and business development
firm Robertson, Woodford, & Summers LLP, located in Grass Valley, California.
He is currently active as the director and owner of several companies.

Mr. Robertson is also a past president of the Economic Resource Council, Rotary
Club of Grass Valley and Nevada County Business Association, all located in
Nevada County, California.  He was an instructor at Sierra College for twelve
years.

Mr. Robertson received his bachelor's degree in Business Economics in 1981 from
the University of California at Santa Barbara, and his CPA certificate in 1986.



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.

Rae Bell Arbogast ~ Secretary

Rae Bell has worked for the Sixteen to One Mine since January 1996.  In 1998
she completed an Accounting Course from the University of Nevada at Reno and
several computer courses (non-degree).  Her responsibilities include managing
the corporate office, inventory control and preparing the Company's financial
statements.

Rae Bell is a Director of the Alleghany County Water District and Curator of
Underground Gold Miners Museum.  She has been a volunteer Emergency Medical
Technician with the Fire Department since 1997.  Currently she is a part-time
student at Sierra College.  She was born in Southern California and moved to the
Alleghany area with her family in 1975. Her father worked as a miner at the
Ruby and Carson Mines.  Prior to employment with the Company she was self-
employed.


ITEM 8:  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.

In April 1996, the Board of Directors adopted, subject to shareholders
approval the Company's Stock Incentive Plan for employees and directors.
Shareholders approved the plan on June 22, 1996.


Management Remuneration for the Period Ended December 31, 2008

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

Michael Miller/  2008  $ 60,000       0         0             0
President & CEO  2007  $ 60,000       0         0             0
                 2006  $ 60,000       0         0             0



The following table summarizes incentive options granted to the president:

     Issued Sept.24, 1999        450,000 shares       $ .23 per share

On December 1, 2008 Michael Miller exercised his option dated Sept. 24, 1999.

Note:  No options were granted in recent years.
These options vest ratably over a five-year period beginning one year from the
date of grant and expire after ten.

Non-qualified Stock Options granted to board members are summarized in the
following table:
                               SHARES      EXERCISE PRICE     FULLY VESTED
                               ------      --------------     ------------
Issued June 30, 2001           45,000           $ .3400      June 30, 2005
Issued June 30, 2000           45,000           $ .3125      June 30, 2004
Issued June 30, 1999           45,000           $ .3750      June 30, 2003
Issued June 30, 1998           30,000           $ .6250      June 30, 2002

These options vest ratably over a four-year period beginning one-year from the
date of grant and expire ten years after the date of grant.


ITEM 9:  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              9.7%
         Officer and Director
         P.O. Box 941
         Alleghany, CA  95910

Common   Charles I. Brown
         Family Partnership LTD         844,168             6.3%
           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             .1%
         Director
         227 Prospect St.
         Nevada City, CA  95959

Common   Rae Bell Arbogast               13,158            .09%
         Secretary
         P.O. Box 919
         Alleghany, CA 95910

Common   All Officers & Directors     1,515,802             11%
                (as a group)

PART IV

ITEM 10:  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, 2008 and December 31, 2007, the
results of operations and cash flows for the twelve-month periods ended
December 30, 2008, 2007 and 2006.  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
March 4, 2009



Balance Sheet

                                       December 31, 2008 & December 31, 2007

ASSETS
                                                        2008        2007
Current Assets
  Cash                                            $     -      $      642
   Accounts receivable                                3,266         3,134
   Inventory                                        631,852       714,120
   Other current assets                                 -             625
                                                    -------       -------
    Total current assets                            635,118       718,521
                                                    -------       -------

Mining Property
   Real estate and property rights
        net of depletion of $524,145                218,287      218,287
   Real estate and mineral property                 500,707      500,707
                                                    -------      -------
   Total Mining Property                            718,994      718,994
                                                    -------      -------

Fixed Assets at Cost
   Equipment                                        925,243      925,243
   Buildings                                        209,487      209,487
   Vehicles                                         255,128      255,128
                                                  ---------    ---------
  Total fixed assets at cost                      1,389,858    1,389,858
                                                  ---------    ---------
Less accumulated depreciation                   (1,284,275)  (1,264,666)
                                                -----------  -----------
   Net fixed assets                                 105,583      125,192
                                                -----------  -----------

Other Assets
   Bonds and misc. deposits                           5,460       16,185
                                                  ---------      -------

   Total Assets                                  $1,465,155   $1,578,892
                                                ==========    ==========


Balance Sheet Continued

LIABILITIES & STOCKHOLDERS' EQUITY
                                                        2008       2007
Current Liabilities
   Accounts payable & accrued expenses              $  484,697   308,454
   Due to related party                                626,727   677,598
   Notes payable due within one year                   400,000   431,000
                                                      --------   -------
   Total Current Liabilities                        1,511,424  1,417,052
                                                      --------   -------

Long Term Liabilities
   Notes payable due after one year                     97,236    58,478
                                                      --------   -------
Total Liabilities                                   1,608,660  1,475,530
                                                      --------   -------

Stockholders' Equity
   Capital stock, par value $.033:
   30,000,000 shares authorized: 13,373,505 shares
   issued and outstanding as of    December 31, 2008
  and 12,867,250 shares issued and outstanding
    as of December 31, 2006                        439,876       425,377
   Additional paid-in capital                    2,005,274     1,898,317
   (Accumulated deficit)
   Retained earnings                           (2,588,663)   (2,220,332)
                                              ------------   -----------
   Total Stockholders' Equity                    (143,505)       103,362
                                              ------------   -----------

Total Liabilities and Stockholders' Equity       $1,465,155   $1,578,892
                                              ============  ============




Original Sixteen to One Mine, Inc.

Statement of Operations

                                                    2008      2007       2006
Revenues:
Gold & jewelry sales                            105,848     653,636    794,086
                                                 ------    -------     -------
   Total Revenues                               105,848     653,636    794,086

Operating expenses:
   Salaries and wages                            90,613      74,214      70,754
   Contract Labor                                28,213     516,161     444,511
   Telephone & utilities                         42,672      69,576      45,917
   Taxes - property & payroll                    38,213      39,693      32,896
   Insurance                                      1,418       2,032       2,638
   Supplies                                      21,490      45,627      40,795
   Small equipment & repairs                      5,725      25,846      19,988
   Drayage                                       22,711      30,559      56,755
   Corporate expense                             12,795      14,113      14,988
   Legal and accounting                          88,572      11,771       8,316
   Compliance & Safety                            2,149       4,813      32,018
   Depreciation & amortization                   19,608      20,813      28,886
   Other expenses                                10,393      25,515      30,315
                                                 -------     ------      ------
   Total operating expenses                     384,572     880,733     828,777

   Profit (Loss) from operations              (278,724)    (227,097)    (34,691)

Other Income & (Expense):
Interest Expense                              (107,655)   (106,207)    (81,340)
Other expense                                   (1,171)     (6,050)     (2,026)
Other income                                     20,020     49,195       7,367
                                               ---------   --------   ---------
   Total other (expense) income                (88,806)    (63,062)    (75,999)

   Profit (Loss) before taxes                 (367,530)   (290,159)   (110,690)

   Income tax expense                               800         800         800

Net (loss) income                          $  (368,330) $ (290,959) $ (111,490)
                                              =========  ==========   =========

Basic and diluted gain (loss) per share      $    (.02)  $   ( .02)  $   (.001)
Shares used in the calculation of net
   (loss) income per share                   13,373,505  12,890,204  12,890,204
                                                ========   =========   ========




Original Sixteen to One Mine, Inc.

Statement of Cash Flow
For the Years Ended                             December 31, 2008,  2007,  2006


Cash Flows From Operating Activities:
                                                   2008       2007         2006

Net profit (loss)                          $  (368,330) $ (290,959) $ (111,490)
Operating activities:
   Depreciation and amortization                 19,608     20,813       28,886
   Gain on Sale of Asset                             -     (39,930)         -
   Decrease(Increase) in accounts receivable       (132)    (3,134)         247
   Decrease(Increase) in inventory               82,268     34,889    (122,360)
   Decrease (Increase) in other current assets      625        478          373
   (Decrease) Increase in accounts payable
    accrued expenses and short term notes        94,372    260,382      215,054
                                                   --------  -------  ---------
Net cash (used) provided by operating activities
                                               (171,589)    (17,461)     10,710

Cash Flows From Investing Activities:
   (Purchase) of Real Estate                          -         -         -
   (Purchase) sale  of fixed assets                -         39,930     (2,000)
   Other assets Bonds Misc. deposits             10,725       -            -
                                                  ---------  --------  --------
Net cash (used) provided by investing activities 10,725      39,930    (2,000)

Cash Flows From Financing Activities
 Increase (decrease) notes payable               38,758      (23,049)   (26,425)
 Proceeds from sale of common stock              14,499         -        (3,492)
 Paid in Capital from Shareholders              106,965          -        22,429
                                                --------    --------   --------
 Net cash provided (used) by financing activities
                                                160,222      (23,049)    (7,488)

 (Decrease)increase in cash                        (642)       (580)     1,222
 Cash, beginning of period                          642       1,222        -
                                                    ------   -------   --------
 Cash, end of period                             $   0          642  $    1,222
                                                 ========    =======  ========