After the building's completion, a legend began to circulate about how Thomas Briggs was able to afford such a nice building following the Civil War. Legend stated that Briggs converted his Confederate money into gold and silver coins, hiding it around the city prior to the Union occupation of Raleigh in 1865. After the troops left, Briggs was said to have spent some time searching for his hidden fortune, using it to build his hardware store when he found it.
Briggs Hardware served the city from this building until 1995, when the store moved to a new location. The new store is still owned and operated by the Briggs family. Presently, the building is listed on the National Register of Historic Places, and is home to the Raleigh City Museum.
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