Born in South Danvers, now Peabody, Massachusetts. Never married. In 1814 he became manager of Elisha Riggs wholesale dry goods warehouse in Baltimore. Peabody incorporated and became president of Eastern Railroad in 1836. He moved to England in 1837 and was involved in the banking business.
In 1867 he contributed $2,000,000 for education in southern states devistated by the recent war. In 1868 Massachusetts changed the name of Danvers to Peabody. He died in London. His body was returned to America for burial at Peabody.
Peabody gave away large amounts of money to institutions that now bear his name:
$1,500,000 to found the Peabody Institute in Baltimore
250,000 to found the Peabody Institute in Peabody, Mass.
150,000 for the Peabody Museum at Yale
150,000 for the Peabody Museum at Harvard
140,000 for the Peabody Academy of Sciences at Salem, Mass.
On March 16, 1867, Congress authorized a gold medal (Loubat 78) to honor Peabody for his philanthropy. Peabody appears on the obverse of the George Peabody Award medal (Julian SC-31). They were supported by the Peabody Education Fund. Also associated with medals for Danvers Massachusetts Schools.
bio: ApCAB; DAB; Drake; EAB; Loubat; NCAB 5; TCBDA; WAB; WWA-HSource credit: Pete Smith, American Numismatic Biographies