Templeton Reid Mint - First Private Mint in US

I am in Gainesville, GA this week (about 15 miles SE of Dahlonega). Today I took a stroll to the square in Downtown Gainesville where there is a historical marker for the Templeton Reid Mint. In the center of the square is Hall County's Confederate Memorial.

The historical marker, which was placed by the Hall County Historical Society in 1978, reads:

FIRST PRIVATE MINT
TEMPLETON REID MINT
1830-1831

Two hundred yards west, on the north side of Washington Street is the site of the first private mint in the United States to manufacture gold coins in dollar values. During the Georgia gold rush, trade suffered due to a shortage of sound money. There were few coins in circulation and most business was by barter. Templeton Reid (ca. 1787-1851), Milledgeville silversmith and expert machinist, saw an answer to the problem. He decided to buy raw gold, refine it and stamp coins of a proven value, acceptable in any transaction. In 1830 he cme to Gainesville, Georgia and opened an assay office. With machines and dies of his design and make he began to strike coins of $2.50, $5.00 and $10.00 denominations. Although questioned by many, this was legal under the U.S. Constitution. The business was not profitable and closed in 1831. The Reid gold coins minted in Gainesville are extremely rare and are eagerly sought by collectors.​

The last photo is a shot of the block where the Templeton Reid Mint was located.

 

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Obverse and reverse of a Templeton Reid $5 gold piece. (Credit the Smithsonian web site for the photos.)

 

Thanks for sharing that with us! There are so many things we can learn about our history through numismatics.

Chris

 

Doug,

I don't have my Red Book with me (egads!) but I believe you will find the Templeton Reid gold coins listed in the back in the section for private mint gold coins.

 

Nice thread and pics, thanks for sharing.

 

They are correct about this being the first private mint when they add the qualifications that the mint struck gold coinage denominated in US dollars. However, I believe that some or most of what we consider colonial or pre-Federal coinage was struck in private mints that were contracted out for production of coinage.