A lustrous Mint State 61 example of America’s first privately minted gold coinage led bidding at Kagin’s February 27 and 28 American Numismatic Association National Money Show auction in Atlanta. The 1830 $2.50 quarter eagle struck by Georgia’s Templeton Reid is graded by Professional Coin Grading Service and bears a green Certified Acceptance Corp. sticker. As often with Kagin’s auctions, privately issued pioneer gold pieces provided many auction highlights for bidders.

The Georgia gold coin, the top auction lot in Atlanta, was witness to the first major U.S. gold rush, when gold was discovered in Georgia and North Carolina.

Kagin’s explains, “While these rich deposits brought new wealth to the area, it was difficult to use the gold dust and nuggets in trade. Weighing the coins was inaccurate due to the impurities in the dust and trading a ‘pinch’ for a shot of whisky was woefully inefficient.” Local merchants like Templeton Reid stepped in to create a local coinage with privately minted gold coins, but the issuance was short-lived, with many ultimately melted.

Kagin’s offered the finest PCGS-certified example of the issue, of which fewer than two dozen are known in all grades. It sold for $480,000.

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