SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON, D.C.  20549


                                     FORM 10-QSB



                      QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934



   For the Quarter Ended June 30, 2006       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.)
        incorporated 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 June 30, 2006, 12,883,387 shares of Common Stock, par value $.03 per
share, were issued and outstanding.

<page>


                                   PART I

1.  FINANCIAL INFORMATION

                        Original Sixteen to One Mine, Inc.
                         Condensed Balance Sheet
                     June 30, 2006 and December 31, 2005

                                    June 30, 2006       December 31, 2005
ASSETS

Current Assets
   Cash                                  $    6,862             $       0
   Accounts receivable                        8,440                    247
   Inventory                                698,374                626,649
   Other current assets                         492                  1,476
                                         ----------             ----------
     Total current assets                   714,168                628,372
                                         ----------             ----------

Mining Property
   Real estate and property rights
      net of depletion of $524,145          216,895                217,591
   Real estate and mineral property         502,099                501,403
                                         ----------             ----------
                                            718,994                718,994
                                         ----------             ----------
Fixed Assets at Cost
   Equipment                                982,515                982,515
   Buildings                                209,487                209,487
   Vehicles                                 253,128                253,128
                                         ----------             ----------
                                          1,445,130              1,445,130
Less accumulated depreciation            (1,291,300)            (1,272,241)
                                         ----------             ----------
     Net fixed assets                       153,830                172,889
                                         ----------             ----------
Other Assets
   Bonds and misc. deposits                  16,185                 16,185
                                         ----------             ----------

     Total Assets                        $1,603,177             $1,536,440
                                         ==========             ==========

LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable &
      accrued expenses                   $  236,693                270,635
Due to related party                        300,052                235,614
Notes payable due within one year           433,797                435,366
                                         ----------             ----------
     Total Current Liabilities              970,542                941,615
                                         ----------             ----------
Long Term Liabilities
   Notes payable due after one year          93,784                107,952
                                         ----------             ----------
     Total Liabilities                    1,064,326              1,049,567
                                         ----------             ----------

Stockholders' Equity
   Capital stock, par value $.03:
     30,000,000 shares authorized:
     12,883,387 shares issued and
     outstanding as of June 30, 2006 and
     12,867,250 shares issued and
     outstanding as of December 31, 2005    429,413                428,869
   Additional paid-in capital             1,890,307              1,875,888
   (Accumulated deficit)
      retained earnings                  (1,780,869)           (1,817,884)
                                         ----------             ----------
     Total Stockholders' Equity             538,851                486,873
                                         ----------             ----------
Total Liabilities and
  Stockholders' Equity                   $1,603,177             $1,536,440
                                         ==========             ==========


                              See Accompanying Notes

<page>

                  Original Sixteen to One Mine, Inc.
             Statement of Operations and Retained Earnings


                    Three Months Ending June 30,   Six Months Ending June  30,
                             2006            2005           2006           2005
                           ------          ------          ------         -----
Revenues:
  Gold & jewelry sales  $   203,329    $  192,076      $   379,169   $  277,484
                        -----------   -----------         --------     --------
     Total revenues         203,329       192,076          379,169      277,484
                       -----------   -----------         --------      --------
Operating expenses:
  Salaries and wages         18,184        47,318          36,141        91,530
  Contract Labor             64,605        82,479          140,519      234,468
  Telephone & utilities       7,655        18,368           16,513       45,497
  Taxes - property & payroll  8,126         9,803           16,130       20,095
  Insurance                     492          657               984        1,044
  Supplies                   12,819         3,596           16,729       12,902
  Small equipment & repairs   2,571        14,799            3,000       26,697
  Drayage                    13,240         8,618           25,666       14,983
  Corporate expenses         10,488         6,263           11,488        7,263
  Legal and accounting        1,270         2,077            3,350        5,720
  Compliance/Safety          10,009         2,533           12,493        3,378
  Depreciation & amortization  8,169        7,324           19,060       14,224
  Other expenses               8,123       10,701           11,543       17,904
                           ----------   ----------        -------       -------
  Total operating expenses   165,751      214,536         313,616       495,705
                          ----------    ----------       --------      --------
    Loss from operations     37,578      (24,460)       $   65,553   $(218,221)

Other Income & (Expense):
  Other income (expense)   (13,171)       (11,133)       (27,738)      (26,898)
                         ----------    -----------       -------       --------
Profit (Loss) before taxes  24,407        (33,593)        37,815      (245,119)
                         ----------    -----------     ---------     ----------
Income tax benefit (expense) (800)           (800)         (800)          (800)
                         ----------    -----------     ---------     ----------
Net  profit (loss)    $     23,607 $      (34,393) $      37,015 $    (245,919)
                       ============    ===========     ==========    ==========

Basic and diluted (loss)
   Gain per share    $       .002   $       (.003) $         .003  $     (.019)
                      ============    ============      =========     =========
Shares used in the
   calculation of net
   loss income per share 12,883,387     12,867,250      12,883,387   12,867,250
                       ============    ===========      ==========  ===========


                              See Accompanying Notes

<page>


                      Original Sixteen to One Mine, Inc.
                           Statement of Cash Flows
         Six Months Ended June 30,2006 and June 30, 2005

                                             Six Months Ended June 30,
                                               2006                   2005
                                         --------------         --------------
Cash Flows From Operating Activities:

Net (loss) profit                              $  37,015         $   (245,919)
  operating activities:
     Depreciation and amortization                19,060                14,224
     (Increase)Decrease in
        accounts receivable                      (8,193)              (13,989)
     Decrease(Increase) in inventory            (71,725)               302,534
     (Increase)Decrease in other
       current assets                                984               (1,438)
     (Decrease) increase in accounts payable
       and accrued expenses                      (33,742)              (1,535)
    (Decrease) increase in short term notes       62,868               (4,417)

                                            ------------            ----------
  Net cash (used) provided by
     operating activities                          6,267                49,460
                                           ------------            -----------

Cash Flows From Investing Activities:

  Purchase of mining property                      -                 (124,750)
  Purchase of fixed assets                          -                 (18,750)
  Other assets bonds misc. deposits               -                      -
                                             -------------         -----------

  Net cash used by
    investing activities                            -                (143,500)
                                             -------------         -----------

Cash Flows From Financing Activities

  Increase (decrease) in bank overdraft             -200                 -
  Increase (decrease) notes payable              -14,168               113,898
  Proceeds from sale of common stock                 544
  Additional paid-in capital                      14,419
                                               ------------        ------------
  Net cash provided (used) by
    financing activities                             595               113,898
                                               ------------       ------------

  (Decrease) increase in cash                      6,862                19,858

Cash, beginning of period                                0               9,857
                                                ------------        ----------
Cash, end of period                           $    6,862           $    29,715
                                               ============       ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $     32,065         $     17,326
                                             ============         ============
    Income taxes                             $        800         $        800
                                             ============         ============

                              See Accompanying Notes
<page>

                        NOTES TO THE FINANCIAL STATEMENTS

I.  GENERAL NOTES

1.  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).


2. 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 June 30, 2006 and December 31,
2005, the results of operations for the three-month & six-month periods ended
June 30, 2006 and 2005 and cash flows for the six month periods ended June 30,
2006 and 2005.  The unaudited financial statements have been prepared in
accordance with Generally Accepted Accounting Principles for interim financial
information and with the instructions to Form 10-QSB and Item 310(b) of
Regulation S-B.

II.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION

The Sixteen to One mine in the Alleghany Mining District is a unique mine and
requires a unique operation, which has been recognized by its owners, its
miners, geologists, engineers, and some public agencies during the last decade
of the twentieth century and to the present.  It is a traditional high-grade,
hard rock, underground gold mine.  According to statement by the federal Mines
Safety Health Administration, it is the only underground single product (gold)
mine operating in the United States today.  The same company owns and operates
the mine.  Original Sixteen to One Mine Inc, (owner) was incorporated in
California in 1911.  Experts estimate that less than twenty percent of the
proven and probable ore deposit has been mined.  Production is approximately
1,500,000 ounces of gold.

There are over twenty-eight miles of horizontal workings and millions of cubic
feet of vertical excavations called stopes.  The entire grounds are not
maintained for mining.  Once an area is targeted for mining, travel ways and
escape routes are brought into safety compliance.  Production miners set up a
heading (face) and begin a drill-blast-muck sequence into the quartz.  Gold is
hosted in the quartz vein in exceedingly rich concentrations called "pockets".
Metal detectors are regularly used underground as a tool for guiding the
direction of the work.  Metal detectors are also used as a tool to separate the
ore underground.  This has the positive affect of reducing the volume of shot
rock from the mine, thereby reducing cost.    In 1992, the company initiated a
gold marketing plan of selling gold in quartz as a gemstone.  This produces
revenue significantly greater than selling gold into the spot market.  Demand
for the Sixteen to One gold-in-quartz gemstone exceeds supply.

Production has been termed a "feast or famine" situation for over 100 years.
Reserves in a high-grade gold mine cannot be termed as "proven".  The company
hoards gold and sells it according to short-term cash needs.  This fact
requires an operator to manage its cash flow to operate between pockets.  It is
difficult to undertake major expansion plans with an uncertain supply of
capital.  The Company has announced general plans to build a new shaft in the
northern section of its patented claims.

During the first half of 2006 the price of gold increased by $100.50 per
ounce to $613.50 per ounce (P.M. London fix) on June 30, 2006.

BALANCE SHEET COMPARISONS

Current Assets increased by $85,796 (14%) primarily due an increase in the
value of gold inventory and an increase in cash as a result of gold sales.

Fixed Assets, Liabilities and Equity did not change substantially.


STATEMENT OF OPERATIONS

Revenues for the three-month period ended June 30, 2006 increased by $11,253
(6%) compared to the same period in 2005 primarily due to increased sales as
well as a higher gold price during the period.  Revenues for the six-month
period ended June 30, 2006 increased by $101,685 (37%) compared with the same
period for 2005 for the same reasons listed for the three month period.

Changes in the Company's operating expenses are reflected as follows:

1. For the three and six-month periods ended June 30, 2006 wages & salaries
decreased by $29,134 (62%) and $55,389 (61%) respectively compared to the same
periods in 2005 due to the conversion of the office staff and gold sales staff
to employment with sub-contractor Morning Glory Gold Mines.

2. Contract labor decreased by $17,874 (22%) for the three-month period
ended June 30, 2006 compared the same period in 2005 and decreased $93,949
(40%) for the six month period compared to the same period in 2005 as the mine
operation was minimal.

3. Telephone and utilities decreased $10,713 (58%) for the three-month period
ended June 30, 2006 and decreased $28,984 (64%) for the six-month period ended
June 30, 2006 compared to the same periods in 2005 due to no pumping to-date
for 2006.

4. For the three and six-month periods ended June 30, 2006 supplies increased
by $9,223 (256%) and $3,827 (30%) respectively compared to the same periods in
2005 due to increased prices and restocking depleted inventory.

5. For the three and six-month periods ended June 30, 2006 small equipment and
repairs decreased $12,228 (83%) and $23,697 (89%) respectively compared to the
same periods in 2005 due to a decrease in equipment repairs and purchases.

6. For the three and six-month periods ended June 30, 2006 drayage increased
$4,622 (54%) and $10,683 (71%) respectively compared to the same periods in
2005 due to the increase in gas prices.

7.  Corporate expenses increased by $4,225 (67%)for the three months ended
June 30, 2006 and $4,225 (58%) for the six months ended June 30, 2006 compared
to the same periods in 2005 primarily due to an increase in the cost of mailing
the Company's annual report and increases in other expenses related to the
annual meeting.

8.  For the three-month period ended June 30, 2006, the Company recorded a
profit of $24,407 (before taxes) compared to a loss of $33,593 for same period
in 2005.  The $58,000 (173%) difference is due to an increase in the price of
gold and decreased expenses.  For the six-month period ended June 30, 2006, the
Company recorded a profit of $37,815 (before taxes) compared to a loss of
$245,119 for the same period in 2005.  The $282,934 difference (115%) is also
due to the increase in the price of gold and decreased expenses.

SUBSEQUENT EVENTS

None

LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity is substantially dependent upon the results of its
operations.  Because of the unpredictable nature of the gold mining business,
the Company cannot provide any assurance with respect to long-term liquidity.
In addition, if the Company's operation does not produce meaningful additions
to inventory, the Company may determine it is necessary to satisfy its working
capital needs by selling gold in bullion form.

The Company is dependent on continued recovery of gold and sales of gold from
inventory to meet its cash needs.  Although the Company has historically
located an annual average of $848,000 of gold over a five year period, there
can be no assurance that the Company's efforts in any particular period will
provide sufficient funding for the Company to continue operations.

If the Company's cash resources are inadequate and its gold inventory is
depleted, the Company may seek debt or equity financing on the most reasonable
terms available.

PART II

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.

OTHER INFORMATION

The unaudited interim consolidated financial statements of Original Sixteen to
One Mine, Inc. (the Company) have been prepared by management in accordance
with generally accepted accounting practices.  Such rules allow the omission of
certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted audited accounting
principles as long as the statements are not misleading.

In the opinion of management, verified by signature below, all adjustments
necessary for a fair presentation of these interim statements have been
included.  These adjustments are of a normal recurring nature.

The preparation of the Company's financial statements in conformity with
accounting principles accepted in the United States requires management to make
estimates and assumptions.  These estimates and assumptions affect the reported
amounts of assets and liabilities and disclosure of contingent liabilities at
the date of the financial statements, as well as the reported amount of
revenues and expenses during the reporting period.  On an ongoing basis,
management evaluates its estimates and assumptions; however, actual amounts
could differ from those based on such estimates and assumptions.  No accounting
principle upon which the Company's financial status depends, requires estimates
of proven and probable reserves and/or assumptions of future gold prices.
Commodity prices may significantly affect the company's profitability and cash
flow.  No independent accounting firm or auditors have any responsibility for
the accounting and written statements of the Form 10-QSB.

The Company and its president assume responsibility for the accuracy of this
filing and certify the financial statements present fairly in all material
respects, the financial position of Original Sixteen to One Mine, Inc at June
30, 2006.

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.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant)

/s/Michael M. Miller
President and Director
Dated:  August 14, 2006