<PAGE> PAGE 1
000 B000000 06/30/96
000 C000000 0000716836
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER GOLD & SPECIAL MINERALS FUND
001 B000000 811-3694
001 C000000 3036713200
002 A000000 3410 SOUTH GALENA STREET
002 B000000 DENVER
002 C000000 CO
002 D010000 80231
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
012 A000001 OPPENHEIMERFUNDS SERVICES
012 B000001 84-1562
012 C010001 DENVER
012 C020001 CO
012 C030001 80217
018 000000 Y
019 A000000 Y
019 B000000 48
019 C000000 OPPENHEIMR
020 A000001 ZION FIRST NATIONAL BANK
020 B000001 87-0189025
020 C000001 317
020 A000002 PAINEWEBBER, INC.
020 B000002 13-2638166
020 C000002 233
020 A000003 FIRST CHICAGO CAPITAL MARKET
020 B000003 36-3595942
020 C000003 229
020 A000004 MORGAN GUARANTY TRUST CO.
<PAGE> PAGE 2
020 B000004 13-5123346
020 C000004 102
020 A000005 NESBITT THOMSON,INC.
020 B000005 FOREIGN
020 C000005 93
020 A000006 FIRST MANHATTAN CO.
020 B000006 13-1957714
020 C000006 83
020 A000007 WARBURG (S.G.) & CO., INC.
020 B000007 13-3340045
020 C000007 53
020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000008 13-5674085
020 C000008 48
020 A000009 CANADIAN IMPERIAL BANK OF COMMERCE
020 B000009 FOREIGN
020 C000009 36
020 A000010 SALOMON BROTHERS, INC.
020 B000010 13-3082694
020 C000010 35
021 000000 1616
022 A000001 NESBITT THOMSON, INC.
022 B000001 FOREIGN
022 C000001 8916
022 D000001 7368
022 A000002 SALOMON BROTHERS, INC.
022 B000002 13-3082694
022 C000002 4804
022 D000002 7297
022 A000003 WARBURG, S.G. & CO., INC.
022 B000003 13-2994695
022 C000003 4907
022 D000003 6274
022 A000004 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000004 13-5674085
022 C000004 2685
022 D000004 5506
022 A000005 FIRST MARATHON SECURITIES LTD.
022 B000005 FOREIGN
022 C000005 3441
022 D000005 3272
022 A000006 CAPEL (JAMES), INC.
022 B000006 52-1348224
022 C000006 4144
022 D000006 2552
022 A000007 WOOD GUNDY CORP.
022 B000007 13-5492430
022 C000007 1816
022 D000007 4384
022 A000008 GOLDMAN, SACHS & CO.
022 B000008 13-5108880
<PAGE> PAGE 3
022 C000008 3448
022 D000008 1670
022 A000009 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 B000009 13-3551367
022 C000009 1400
022 D000009 3640
022 A000010 MORGAN STANLEY & CO., INC.
022 B000010 13-2655998
022 C000010 3113
022 D000010 1839
023 C000000 61903
023 D000000 77634
028 A010000 34945
028 A020000 0
028 A030000 0
028 A040000 34959
028 B010000 21524
028 B020000 0
028 B030000 0
028 B040000 22755
028 C010000 14697
028 C020000 0
028 C030000 0
028 C040000 11606
028 D010000 14407
028 D020000 0
028 D030000 0
028 D040000 13710
028 E010000 10293
028 E020000 0
028 E030000 0
028 E040000 10986
028 F010000 10016
028 F020000 0
028 F030000 0
028 F040000 14696
028 G010000 105882
028 G020000 0
028 G030000 0
028 G040000 108712
028 H000000 12158
029 000000 Y
030 A000000 633
030 B000000 5.75
030 C000000 0.00
031 A000000 150
031 B000000 0
032 000000 483
033 000000 0
034 000000 Y
035 000000 15
<PAGE> PAGE 4
036 A000000 N
036 B000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 368
044 000000 0
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
<PAGE> PAGE 5
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 60653
071 B000000 77617
071 C000000 161360
071 D000000 38
072 A000000 12
072 B000000 812
072 C000000 2042
072 D000000 0
072 E000000 0
072 F000000 1302
072 G000000 0
072 H000000 0
072 I000000 390
072 J000000 87
072 K000000 51
072 L000000 93
072 M000000 45
072 N000000 2
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 18
072 S000000 23
072 T000000 368
072 U000000 0
072 V000000 0
072 W000000 43
072 X000000 2422
072 Y000000 0
072 Z000000 432
072AA000000 10537
072BB000000 12025
<PAGE> PAGE 6
072CC010000 10541
072CC020000 0
072DD010000 705
072DD020000 0
072EE000000 0
073 A010000 0.0586
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 52
074 B000000 10800
074 C000000 0
074 D000000 2506
074 E000000 1691
074 F000000 151711
074 G000000 0
074 H000000 0
074 I000000 1754
074 J000000 0
074 K000000 0
074 L000000 915
074 M000000 12
074 N000000 169441
074 O000000 0
074 P000000 138
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1262
074 S000000 0
074 T000000 168041
074 U010000 11431
074 U020000 346
074 V010000 14.15
074 V020000 14.11
074 W000000 0.0000
074 X000000 21080
074 Y000000 0
075 A000000 0
075 B000000 174855
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
<PAGE> PAGE 7
077 J000000 Y
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 68525
081 A000000 Y
081 B000000 90
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER GOLD & SPECIAL MINERALS FUND:
In planning and performing our audit of the financial statements of Oppenheimer
Gold & Special Minerals Fund for the year ended June 30, 1996, we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control structure.
The management of Oppenheimer Gold & Special Minerals Fund is responsible
for establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control structure
are to provide management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or disposition and
that transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considered to be material weaknesses as defined above as of
June 30, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission and should not be used for any other purpose.
/S/KPMG PEAT MARWICK LLP
Denver, Colorado
July 22, 1996
<PAGE>
During the year ended June 30, 1996, the Fund changed the classification of
distributions to shareholders to better disclose the differences between
financial statement amounts and distributions determined in accordance with
income tax regulations. Accordingly, during the year ended June 30, 1996,
amounts have been reclassified to reflect a decrease in undistributed net
investment income of $167,008 and a decrease in accumulated net realized loss on
investments of $167,008.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 716836
<NAME> Oppenheimer Gold & Special Minerals Fund - A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1995
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 131,810,030
<INVESTMENTS-AT-VALUE> 168,462,124
<RECEIVABLES> 914,401
<ASSETS-OTHER> 11,612
<OTHER-ITEMS-ASSETS> 52,385
<TOTAL-ASSETS> 169,440,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,399,306
<TOTAL-LIABILITIES> 1,399,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 142,419,044
<SHARES-COMMON-STOCK> 11,431,464
<SHARES-COMMON-PRIOR> 12,743,261
<ACCUMULATED-NII-CURRENT> 196,070
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,226,872)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,652,974
<NET-ASSETS> 161,768,648
<DIVIDEND-INCOME> 2,041,697
<INTEREST-INCOME> 811,802
<OTHER-INCOME> 0
<EXPENSES-NET> 2,421,970
<NET-INVESTMENT-INCOME> 431,529
<REALIZED-GAINS-CURRENT> (1,488,121)
<APPREC-INCREASE-CURRENT> 10,541,186
<NET-CHANGE-FROM-OPS> 9,484,594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 705,030
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,015,184
<NUMBER-OF-SHARES-REDEEMED> 12,375,016
<SHARES-REINVESTED> 48,035
<NET-CHANGE-IN-ASSETS> (3,679,650)
<ACCUMULATED-NII-PRIOR> 636,579
<ACCUMULATED-GAINS-PRIOR> (9,905,759)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,302,108
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,421,970
<AVERAGE-NET-ASSETS> 171,427,000
<PER-SHARE-NAV-BEGIN> 13.48
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.69
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.15
<EXPENSE-RATIO> 1.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 716836
<NAME> Oppenheimer Gold & Special Minerals Fund - B
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 131,810,030
<INVESTMENTS-AT-VALUE> 168,462,124
<RECEIVABLES> 914,401
<ASSETS-OTHER> 11,612
<OTHER-ITEMS-ASSETS> 52,385
<TOTAL-ASSETS> 169,440,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,399,306
<TOTAL-LIABILITIES> 1,399,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 142,419,044
<SHARES-COMMON-STOCK> 346,098
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 196,070
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,226,872)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,652,974
<NET-ASSETS> 4,882,302
<DIVIDEND-INCOME> 2,041,697
<INTEREST-INCOME> 811,802
<OTHER-INCOME> 0
<EXPENSES-NET> 2,421,970
<NET-INVESTMENT-INCOME> 431,529
<REALIZED-GAINS-CURRENT> (1,488,121)
<APPREC-INCREASE-CURRENT> 10,541,186
<NET-CHANGE-FROM-OPS> 9,484,594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 434,241
<NUMBER-OF-SHARES-REDEEMED> 88,143
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,679,650)
<ACCUMULATED-NII-PRIOR> 636,579
<ACCUMULATED-GAINS-PRIOR> (9,905,759)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,302,108
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,421,970
<AVERAGE-NET-ASSETS> 2,588,000
<PER-SHARE-NAV-BEGIN> 12.33
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.79
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.11
<EXPENSE-RATIO> 2.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 716836
<NAME> Oppenheimer Gold & Special Minerals Fund - C
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 131,810,030
<INVESTMENTS-AT-VALUE> 168,462,124
<RECEIVABLES> 914,401
<ASSETS-OTHER> 11,612
<OTHER-ITEMS-ASSETS> 52,385
<TOTAL-ASSETS> 169,440,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,399,306
<TOTAL-LIABILITIES> 1,399,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 142,419,044
<SHARES-COMMON-STOCK> 98,421
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 196,070
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,226,872)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,652,974
<NET-ASSETS> 1,390,266
<DIVIDEND-INCOME> 2,041,697
<INTEREST-INCOME> 811,802
<OTHER-INCOME> 0
<EXPENSES-NET> 2,421,970
<NET-INVESTMENT-INCOME> 431,529
<REALIZED-GAINS-CURRENT> (1,488,121)
<APPREC-INCREASE-CURRENT> 10,541,186
<NET-CHANGE-FROM-OPS> 9,484,594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 665,116
<NUMBER-OF-SHARES-REDEEMED> 566,695
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,679,650)
<ACCUMULATED-NII-PRIOR> 636,579
<ACCUMULATED-GAINS-PRIOR> (9,905,759)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,302,108
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,421,970
<AVERAGE-NET-ASSETS> 840,000
<PER-SHARE-NAV-BEGIN> 12.33
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.81
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.13
<EXPENSE-RATIO> 2.19
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
