1830 $2.50 Templeton Reid Gold Coin Highlights Auction

1830 $2.5 Templeton Reid gold coin
The obverse of the 1830 $2.50 Templeton Reid. The first privately issued gold coin in the United States. (Photo courtesy Kagin’s)

The finest PCGS MS-61 certified 1830 $2.50 Templeton Reid pioneer gold coin is being offered in the official American Numismatic Association National Money Show auction by Kagin’s Auction on February 27th in Atlanta, Georgia. The privately issued mint state specimen was struck just a few miles away from the auction venue in Milledgeville as a consequence of the first major U.S. gold rush which occurred in the southern Appellation area of Georgia and North Carolina from 1828 through the 1830s.

At that time this underdeveloped area existed largely on a barter economy as precious metal coins were shipped to Europe or hoarded by the banks to pay import duties. These rich deposits brought new wealth to the area but it was difficult to use the gold dust and nuggets in trade and difficult to transport to the nearest mint in Philadelphia.

1830 $2.5 Templeton Reid gold coin
The reverse of the 1830 $2.50 Templeton Reid. (Photo courtesy Kagin’s)

In July, 1830, Georgia metallurgist Templeton Reid became the first to answer this pressing need for an adequate medium exchange by melting down the gold dust and striking $2 ½, $5, and $10 gold pieces. Unfortunately, unsubstantiated allegations of the coins being underweight and unconstitutional eventually led to most of the coins being refused or melted and forced Reid to close down just a few months later, leaving a legacy of privately issued pioneer gold coins for more than 30 other merchants over almost 35 years to follow.

Other pioneer gold coins in the Kagin’s auction includes three other Georgia coins struck by Christopher Bechtler, California gold rush coinage highlighted by a mint state Augustus Humbert 1851 $50 gold “slug”, Mormon gold coins and coins from the Colorado gold rush including the iconic Pikes Peak $10. Shipwreck treasure highlighted by a 97.77 Kellogg & Humbert ingot are also offered along with ingots and nuggets.

Other numismatic series offered are Early American medals, U.S. Colonial and Federal coinage from ½ cents through gold.

U.S. Paper currency, Confederate Currency and Errors are part of Friday night’s session.

Also featured on February 28th are collections of Lesher Dollars, So-called dollars, tokens, good-for mirrors, Civil War, Hard Times and Political Tokens as well as over 250 U.S. Gold and Silver medals.

The sale concludes with over 75 lots of Odd & Curious/Primitive money from the Ken Hallenbeck collection including 7 Yap Stones, three Money Trees and a Chinese Ming Note.

Catalogs are available on-line here or by contacting Kagin’s Auctions at (888) 852-4467.

View the online virtual catalog here.

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