1830 Templeton Reid Five Dollar Gold Piece

Coin Details

Auction Record

$200,000 • Nygren-Garrett specimen • 1979 • Bowers & Ruddy Galleries

Description

The 1830 Templeton Reid Five Dollar Gold Piece (Kagin K-2) is a half eagle denomination struck at the first private mint established under the United States Constitution. Templeton Reid operated his mint in Gainesville, Georgia from July through October 1830, capitalizing on the Georgia Gold Rush. The obverse displays "GEORGIA GOLD" encircled by stars with the date 1830, while the reverse reads "FIVE DOLLARS" with "TEMPLETON REID / ASSAYER." Reid's half eagles were the most commonly produced of his three Georgia denominations, though "common" is relative for a series with fewer than a dozen known survivors. The coins were struck from native Georgia gold at approximately .942 fineness, exceeding the federal standard of .917. Each piece was individually struck by hand, resulting in subtle variations between specimens that are characteristic of private mint coinage. The most famous K-2 specimen is the Nygren-Garrett example, which realized $200,000 at Bowers & Ruddy Galleries in 1979. The series remains highly prized by collectors of territorial gold, representing the pioneering spirit of private coinage during America's first major domestic gold rush. Most of Reid's estimated production of 1,400 to 1,600 total coins across all denominations was melted at the Philadelphia Mint in 1831.

Rarity Notes

Approximately 7-10 known specimens. Most frequently encountered Templeton Reid denomination, though still exceptionally rare.

Cross References

Kagin K-2; PCGS #10323; NGC #31003