Anthracite iron were their principle businesses. The Franklin Institute, in 1830, offered a gold medal to the manufacturer of the greatest quantity of anthracite iron, and Nicholas Biddle and his associates offered a prize of $5,000 to the first individual to smelt a certain quantity of iron ore within a given time, using anthracite. The Lehigh Coal & Navigation, by then an industrial giant of the times, also offered free water power and discount rates on coal and shipping to encourage the development of the process. The first key breakthrough occurred in 1828-29, when Scotsman James Beaumont Neilson patented the hot blast
Anthracite Bank Building For several years beginning in 2002, the building served as the Anthracite Inn Bed & Breakfast operated by owner Donald Serfass. It was added to the National Register of Historic Places in 1978. Anthracite Bank Building Anthracite Bank Building, also known as The Beard Building, is a historic former bank building located at Tamaqua, Schuylkill County, Pennsylvania. It was built in 1850, and is a three-story, three bay wide, brick building in the Italianate style. The first floor exterior is white marble. It housed Tamaqua's first financial institution until 1865. It later served as home of Civil War hero Col.