Q.David Bowers
Introduction
During the 19th century rich gold deposits Were discovered in Georgia, North Carolina, California, Oregon, Colorado, and other locations. While the United States government eventually established branch mints in Georgia, North Carolina, California, and Colorado, in the early years assaying and refining of gold was accomplished by private individuals and the banks. Some of these produced coins which today are variously referred to as private, pioneer, or territorial issues.
While the 1787 gold doubloon produced by Ephraim Brasher in New York City is a private issue, collectors today primarily associate the field with the coinage produced by Templeton Reid in Georgia in 1830, the pieces produced by the Bechtlers in North Carolina beginning in the 1830s, the wide array of California gold issues of the period 1849-1855, the 1849 $5 and $10 of Oregon, the Mormon coinage dated 1849-1860, and issues of Colorado 1860-1861. Jacob R. Eckfeldt and William E. DuBois of the United States Mint studied and described various California, Mormon, and other gold coins as they were received for assay and testing at the Mint shortly after the time of issue. Collector interest emerged at an early date, and by 1877 the Spier Collection, which later passed to the Society of California Pioneers, contained many outstanding pieces. Examples were numerous in auction sales of the late 19th century.
Beginning in the first decade of the 20th century, Edgar H. Adams studied the field, examined original newspapers, records, documents, and gathered what remains today as the most important informational source. Adams' Official Premium List of the United States, Private, and Territorial Gold Coins appeared in 1909, to be followed in 1912-1913 by the publication in sections of his monumental Private Gold Coinage of California, 1849-1855. In more recent times Clarence Griffin has written on the Bechtler coinage, Dexter C. Seymour has brought to light many previously unknown facts concerning Templeton Reid, Nolie Mumey has gathered together data relating to Clark, Gruber & Co., and others have made additional important contributions.
Gold Coinage of Templeton Reid
Templeton Reid's private Georgia mint only operated for about three months. Coinage was effected during part of July, all of August and September and part of October, 1830. Many of his coins were subsequently melted by the United States Mint, accounting in part for their extreme rarity today. Dexter C. Seymour, who studied the series intensively and from whose writing much of the following was derived, has suggested that only about 1,600 coins were produced totally, including approximately 1,000 quarter eagles, 300 half eagles, and 250 eagles.
On April 3, 1811, Templeton Reid, a resident of Milledgeville, Georgia, advertised in the Georgia Journal that he, together with Thomas Reid, was ready to "make complete cotton gins, for the coming season, at three dollars per saw, with valuable improvements ... " On August 11th of the same year an advertisement in the Georgia Argus, published. in Milledgeville, announced Reid's entry into the watch making business by stating that he had" established the business of repairing clocks and watches in its various branches, having every material and convenience necessary; and hopes by moderate charges, workmanship, and attention, to merit a liberal patronage." By June 22, 1814, the firm of T. & E. Reid was engaged in "all kinds of watch and clock repairing," according to an advertisement.
In 1822 the announcement was made that Templeton Reid had relocated his shop to a "new and convenient house on Hancock Street two doors west of the Southern Recorder office where all orders will be thankfully received and promptly attended to." Templeton Reid advertised in 1824 that:
The subscriber is prepared to make rifles of a very superior order priced from one to five hundred dollars, and barrels fifty dollars. Specimens of his workmanship may be seen here, and as to his skill in making a close shooting gun, being more than ordinary, it Cannot be questioned by any who know him as a rifleman. Templeton Reid.
Gold had been discovered in Georgia during the 1820s. By the latter part of the decade news had spread and many fortune seekers had arrived in the district. Milledgeville, then the state capital, was one of the centers of activity. Reid, who from his experience in rifle-making and watch making had an engraving skill, thought to fill a commercial need by converting gold dust, then traded by weight in the area, into coins. On July 24, 18:30, an article appeared in the Southern Recorder which told of Reid's new enterprise:
We have examined, during the past week, with great pleasure, an apparatus constructed by our very ingenious fellow citizen, Mr. Templeton Reid for the purpose of putting gold into a shape more convenient than that in which it is originally found. He makes with great facility and great neatness, pieces worth ten, five, and two and a half dollars. No alloy is mixed with it, and it is so stamped that it cannot be easily imitated. He sets out soon for the mines, and intends putting his apparatus into operation, as soon as he reaches them.
About $1500 worth of Georgia Gold has been stamped by our ingenious townsman, Mr. Templeton Reid, with hand-some dies, showing the actual value of each piece of metal, in parcels of $2.50, $5, and $10. The pieces of ten dollars have on one side this inscription: GEORGIA GOLD, 1830, and on the other, TEN DOLLARS, TEMPLETON REID, ASSA YER .. The die of the five dollar piece is not inferior in execution to the stamp on the coin issued from the National Mint. Mr. Reid informs us that the gold dust stamped by him will be taken at the Mint and at most of the Banks for the value it purports on its face to bear. This will give it a pretty general currency, and make it answer the purposes of money. Mr. R. intends making an establishment in the gold region for the purpose of assaying and marking the gold as it may be found which will be a great convenience in saving to the miners, who have heretofore been obliged to part with the precious metal in its crude state at a loss from five to fifteen per cent.
Shortly thereafter Templeton Reid moved to Gainesville, Georgia, which was situated closer to the center of actual mining activity. Coins were made and put into circulation, including one specimen which, unfortunately for Templeton Reid, found its way to a disgruntled citizen who styled himself anonymously as "No Assayer" in a letter to the Georgia Courier August 16, 1830:
Mr. Editor:
Although no assayer, I have taken the trouble of having a piece of Mr. Templeton Reid's coining, purporting to be worth $10 assayed at the mint. It was found to be but 22 1/2 carats fine; consequently worth a trifle more than Georgia Gold dust. The actual value is $9.38c, giving Mr. Reid a profit of about 7 percent. The value of Mr. Reid's Coin may be estimated as follows:
$10 pieces $9.38; $5 pieces $4.69; $2.50 pieces $2 and 341/2c.
No Assayer.