First Private Mint Templeton Reid Mint

First Private Mint Templeton Reid Mint (HM9NW)

Location: Gainesville, GA 30501 Hall County
Country: United States of America

N 34° 17.963', W 83° 49.624'

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Inscription

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. Withmachines 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 coinsminted in Gainesville are extremely rare and are eagerly sought by collectors.
Details
HM NumberHM9NW
Tags
Marker NumberHCHS-2
Year Placed1979
Placed ByHall County Historical Society
Marker ConditionNo reports yet
Date Added Monday, October 6th, 2014 at 1:48am PDT -07:00
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Locationbig map
UTM (WGS84 Datum)17S E 239807 N 3798970
Decimal Degrees34.29938333, -83.82706667
Degrees and Decimal MinutesN 34° 17.963', W 83° 49.624'
Degrees, Minutes and Seconds34° 17' 57.78" N, 83° 49' 37.44" W
Driving DirectionsGoogle Maps
Area Code(s)678, 404, 770
Closest Postal AddressAt or near 102 Washington St SW, Gainesville GA 30501, US
Alternative Maps Google Maps, MapQuest, Bing Maps, Yahoo Maps, MSR Maps, OpenCycleMap, MyTopo Maps, OpenStreetMap

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