The combustion of natural untreated wood in firewood stoves generates ashes with high contents of minor and trace elements. Those ashes can be disposed via garbage collection. Those ashes can also be used as a fertilizer. This study investigates the elemental composition of four natural untreated wood species (beech, oak, spruce, and fir) and their ashes produced in a firewood stove. In total, 30 minor and trace elements were analyzed using inductively coupled plasma-optical emission spectroscopy. With a complete set of fuel and ash data, possible effects of ashes from untreated wood on the environment are discussed. They contain nutrients in concentrations so that ashes are comparable to commercial fertilizers, but they also contain toxic trace elements in concentrations at or above limits given by relevant German legislation. However, the trace elements are not only potentially harmful but also valuable. Therefore, ashes are also valuable in terms of an urban mining prospectus because they do contain certain elements in comparable concentrations as commercially used ores. It is therefore necessary to separate the trace elements from the ash matrix before it is put on soil, and the separated trace elements need to be processed to crude materials for demanded rare earth elements.