Patonwas born in 1721, was the son of John Paton, a bookseller in Old Parliament Square, Edinburgh, his mother being a granddaughter of George Mossman, printer to Queen Anne.

After receiving a good education, he became assistant to his father, and ultimately a partner with him in the business; but about 1760 both were compelled to retire on account of having been engaged in a cautionary obligation which they were unable to meet.

Notwithstanding his meagre income, Paton succeeded by frugal living in acquiring an extensive antiquarian library and a valuable collection of antiquities.

In the evening he usually adjourned, with others of similar literary tastes, to John Dowie's tavern, to take his bottle of ale and ‘buffed herring,’ or ‘roasted skate and onions.’ As soon as the clock of St. Giles struck eleven, he rose and retired to his house in Lady Stair's Close.

Although an indefatigable collector of books and antiquities, Paton saved 200l., but lost it after the age of seventy by the failure of the bank of Betham, Gardner, & Co.