First Private Mint Templeton Reid Mint 1830-1831 - HCHS-2 - Hall Co., GA - Georgia Historical Markers on Waymarking.com

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 proven value, acceptable in any transaction. In 1830 he came to Gainesville, Georgia and opened an assay office. With machines and dies of his design and make he bran 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.

HCHS-2 Hall County Historical Society 1979

Type of Marker: Park Marker #: HCHS-2 Date: 1979 Sponsor: Not listed

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