Templeton Reid 10 Dollars, United States, 1830
Templeton Reid 10 Dollars, United States, 1830
- Description
- Before the famous California gold rush, several important strikes were made in the East: in North Carolina, South Carolina, and Georgia. The earliest took place in Mecklenburg County, N.C., in 1799, where a nugget weighing several pounds was discovered. Its finder used it as a doorstop until someone recognized it for what it was! Discoveries multiplied, and a federal branch Mint was eventually set up in Charlotte to process the metal into coinage.
- Discoveries in Georgia and North Carolina in the 1820s received wide publicity, and a "gold fever" resulted. Thousands of people began trekking to the areas in search of instant wealth. Most returned home empty-handed, but successful prospectors found millions of dollars' worth of precious metal.
- What should they do with their new wealth? Many felt the Philadelphia Mint was too far away for safe travel, and the government wasn't ready to create other coining facilities. A jack-of-all-trades named Templeton Reid had an answer: strike private gold coins, at a private mint. Reid had extensive experience as a watchmaker, gunsmith, and metalworker. In July 1830, he set up shop in the Georgia hamlet of Milledgeville and began his brief career as private moneyer-the first since Ephraim Brasher.
- He later moved to Gainesville, which was closer to the gold mining district. His coins came in three denominations: ten dollars, five dollars, and two and one-half dollars, in recognition of "official" denominations. And he put slightly more gold into his products than the federal government did into its coins, just to be on the safe side.
- Although historians believe that Templeton Reid conducted business fairly, an unknown adversary, signing himself simply "no assayer," published several notices in newspapers complaining that the coins were not as represented.
- Rumors spread and before long Reid was forced to close up the business.
- date made
- 1830
- obverse designer
- Templeton Reid
- reverse designer
- Templeton Reid
- maker
- Templeton Reid
- place made
- United States: Georgia
- Physical Description
- gold (overall metal)
- 0 (overall die axis)
- 0 (overall die axis measurement)
- struck (overall production method)
- Measurements
- overall: 1 mm x 33 mm; 1/32 in x 1 5/16 in
- ID Number
- NU.68.159.1185
- accession number
- 283645
- catalog number
- 68.159.1185
- Credit Line
- Estate of Josiah K. Lilly
- See more items in
- Work and Industry: National Numismatic Collection
- Legendary Coins
- Coins
- Numismatics
- Coins, Currency and Medals
- Exhibition
- The Value of Money
- Exhibition Location
- National Museum of American History
- Data Source
- National Museum of American History
Comments
"We haven't got it. My information is that it was eventually discovered, assayed, and melted down and used. And not for a doorstop. "
National Museum of American History
Tue, 2013-07-16 14:43
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Billy
Wed, 2012-11-14 13:02