It was not the first time that someone had discovered a rare and valuable mineral in Melancthon. As early as 1886 newspapers reported finding gold in Melancthon. In 1890, a Dundalk man thought he had located valuable gold and silver mines near Horning's Mills. In 1906 Reddickville made the news with an oil well.
In 1912 the newspapers reported substantial amounts of coal in Melancthon. A Toronto newspaper reported that coal had been located not 70 miles north of Toronto. Many around Shelburne knew it had been found on Henry Stoddart’s farm in Melancthon Township. A development and mining promotion company had been formed, fronted by a Col. Waters and Mr. G.A. Bonter, a man who reportedly had much experience in mining and mining promotion. They sold almost $44,000 worth of stock in the newly organized company in Toronto. They had visited Mr. Stoddart’s farm and pronounced there was a lot of coal and took out a three-year lease for mineral rights from him. Other promoters trying to get a piece of the coal rights visited with one mining prospector declaring “there were more kinds of minerals on his place than he had fingers on his hands.” Yet another company tried to take out a lease after it had already been leased to Mr. Bonter. Mr. Stoddart’s farm was popular!
Well, turns out, like many of the past discoveries in Melancthon, this was a lot of shady dealing and the scam artists had struck again. Sure, gold, silver and coal did exist in Melancthon, but they were in such tiny amounts it was not worth anything! But Mr. Bonter was caught out after a little too much promotion of the Melancthon Coal Field during a visit to Walkerton, ON. He went to trial in 1915 but without sufficient evidence the charges were dropped.
Of course, hope springs eternal in Dufferin County and many residents were convinced there was something valuable under that soil. In 1920, ever the optimist, Henry Stoddart once again had a company on his farm drilling for coal. Just east of Shelburne another crew were drilling for coal on James Higgins farm. There was a different crew on the Gravel Road in Melancthon, this time drilling for oil. Of course, they all came up empty and the saga of the “Melancthon Coal Field” petered out, leaving pockets empty and a bunch of holes in the farm fields.