In this article, we will take a historical look at the United States’ first documented discovery of gold and America’s first gold mine, which ultimately led to the establishment of the now defunct Charlotte Mint.
Getting a Charlotte gold coin has been on my wish list for years and as you’ll see there’s good reason behind the high prices and demand for these coins.
The first documented discovery of gold in the United States, occurred at the Reed Gold Mine., located in Midland, North Carolina. This happened in 1799 when Conrad Reed, son of Farmer John Reed, found a 17-pound yellow rock in Little Meadow Creek. Initially, the rock served as a doorstop. About three years later, a jeweler saw the rock, identified it and was paid $3.50 for it. The value at the time was about $3600 Today that rock would be worth about $500,000. more or less.
Soon John Reed would begin mining his property and even found a 28-pound nugget. He mined by placer mining, which is mining a stream bed.
There were numerous discoveries of gold throughout the state as well and so it was determined to build a Mint in Charlotte as the costs of transporting was expensive and dangerous.
The Charlotte Mint was created in 1835 with the Mint Act of 1836 for the purpose of gold coinage only. Funding was provided for purchasing land, building and machinery. There were also mints built in Dahlonega, Georgia and New Orleans. Dahlonega was gold only while New Orleans was gold and silver.
In 1836 construction of the mint began, In March 1838, the first $5 gold eagle was minted and soon the mint would produce $2.50 quarter eagles and eventually a small gold dollar. All the coinage has the “c” mint mark.
The Civil War was the beginning of the end for the Charlotte Mint. Confederate troops seized it in 1861 and then ultimately converted it to a hospital and military office space. Soon after, the govt switched it to an assay office because of the shortage of gold. Attempts were made to reopen but we’re ultimately denied.
As big fan of gold and history I think it’s important to learn about things like this. As mentioned earlier, I’ve been trying to get a nice Charlotte gold coin for years, but ultimately haven’t found one. Most of the better looking and higher graded ones are way out of my price range. If gold keeps going up, it may be permanently out of my budget.
Thank you.
