Gainesville in Hall County, Georgia — The American South (South Atlantic)
First Private Mint / Templeton Reid Mint
1830-1831
Photographed By David Seibert, November 1, 1990
1. First Private Mint / Templeton Reid Mint Marker
Inscription.
First Private Mint, also, Templeton Reid Mint. 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 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.
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 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.
Erected 1979 by Hall County Historical Society. (Marker Number HCHS-2.)
Topics. This historical marker is listed in this topic list: Industry & Commerce. A significant historical year for this entry is 1830.
Location. 34° 17.963′ N, 83° 49.624′ W. Marker is in Gainesville, Georgia, in Hall County. Marker is on Washington Street, 0 miles
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east of Main Street, on the left when traveling west. The marker is located in the town square. Touch for map. Marker is in this post office area: Gainesville GA 30501, United States of America. Touch for directions.
2. First Private Mint / Templeton Reid Mint Marker
Photographed By David Seibert, November 28, 2009
3. First Private Mint / Templeton Reid Mint Marker
The marker with the Hall County Confederate Monument in the background
Photographed By David Seibert, November 28, 2009
4. Hall County/Gainesville Confederate Monument
For "Our Confederate Soldiers" (on the base)
Credits. This page was last revised on January 25, 2021. It was originally submitted on December 31, 2008, by David Seibert of Sandy Springs, Georgia. This page has been viewed 1,756 times since then and 62 times this year. Photos:1. submitted on December 31, 2008, by David Seibert of Sandy Springs, Georgia. 2, 3, 4. submitted on December 23, 2009, by David Seibert of Sandy Springs, Georgia. • Kevin W. was the editor who published this page.
