The Collaborative International Dictionary of English v.0.48:

Reeding \Reed"ing\ (r[=e]d"[i^]ng), n. [From 4th Reed.]
   1. (Arch.) A small convex molding; a reed (see Illust.
      (i) of Molding); one of several set close together to
          decorate a surface; also, decoration by means of
          reedings; -- the reverse of fluting.
          [1913 Webster]

   Note: Several reedings are often placed together, parallel to
         each other, either projecting from, or inserted into,
         the adjoining surface. The decoration so produced is
         then called, in general, reeding.
         [1913 Webster]

   2. The nurling on the edge of a coin; -- commonly called
      milling.
      [1913 Webster]