A thousand coins, each representing a year in Oxfordshire's history, were placed around the Mercury fountain in Tom Quad at Christ Church, Oxford.
The £1 coins had been collected by pupils at Christ Church Cathedral School to commemorate the county's 1,000th anniversary.
The school's 150 pupils gathered at the fountain for the event and after the last coin was placed, 200 red balloons were released into the sky.
A handwritten record of each person who made a donation will now be made and placed in the archives at the school or the cathedral.
KT Bruce, the wife of school headmaster Martin Bruce, both pictured with some pupils, said: "It was wonderful.
"The energy and enthusiasm of all the people who gave money was marvellous."
The £1,000 collected will now be donated to the Thames Valley and Chiltern Air Ambulance.
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