The Rheingold community was founded in 1859 on North Grape Creek, 13.5 miles (21.7 km) northeast of Fredericksburg.

The settlement became known as Rheingold, because the majority of land and business owners were the widows and sons of German immigrants Jacob and Peter Gold, victims of a cholera epidemic.

At one time, Rheingold had a general store, cotton gin, dance hall, blacksmith shop, and a gasoline service station, most of it owned by the Gold family.

The post office continued under the original name of Rheingold until 1907 when the mail service was transferred to Willow City.

[3] In 1873, William Gold donated 2 acres (0.01 km2; 0.00 sq mi) of land to accommodate the need for a school for the community's children.