(1834-37) $5 C. Bechtler, Carolina Gold RUTHERF: MS(PCGS#10095)

August 2019 ANA U.S. Coins Auction Rosemont, IL

拍卖行

Stack's Bowers

批号

5463

等级

AU53

价格

118,583

详细说明

Seldom Offered 1834 K-18 C. Bechtler $5 1834 Christopher Bechtler $5. K-18. Rarity-7. RUTHERF., 140.G., 20 CARATS, AUGUST 1, 1834. AU-53 (PCGS). This is a handsome and inviting example of one of the rarer types in the Bechtler gold series. Predominantly medium gold in appearance, both sides exhibit splashes of flint gray and pale rose patina that are most prevalent in the center of the obverse (140.G. side, mounted as the reverse in the PCGS holder). All design elements are boldly rendered, and the level of preservation is superior for a type that is usually seen well worn, if not also impaired. Here we note surfaces that are relatively smooth in hand with no detracting marks, direct lighting calling forth faint remnants of original luster from the protected areas around many of the letters and digits. A Condition Census example of this elusive variety that would do justice to the finest private and territorial gold cabinet. Alt Christoph Bechtler (1782-1842), a talented worker in gold and silver, and also a gunsmith, emigrated to New York City from Pforzheim, Germany in 1829, along with his sons August and Karl, and a nephew also named Christoph -- their names were Americanized to Christopher, Augustus and Charles before too long. Soon thereafter they applied for U.S. citizenship and opened a watch repair shop in Philadelphia. In March or April 1830, the family removed itself to North Carolina and located in Rutherfordton, where they enjoyed the lack of competition in their local jewelry and watchmaking shop. According to local newspaper ads, they began their business in Rutherfordton in July 1830. As Walter Breen noted in his Encyclopedia(1988): "The coincidence of a tight money supply, a shortage of specie, large local discoveries of gold dust and nuggets, Alt Christoph's metallurgical skill, the virtual impossibility of safe shipment of bullion to the Philadelphia Mint, and no laws against private coinage made the next move obvious." With no branch mint in the newly opened gold field region of Lower Appalachia, and none in the foreseeable future, the local citizens petitioned the Bechtlers, all well-known and equally well-trusted by now, to turn their gold dust and nuggets into a circulating coinage. At some point after July 2, 1831, Alt Christoph began the minting process with a press, dies, punches, and tools all manufactured by himself or other family members. The July 2, 1831 edition of the local newspaper, the Spectator, included an interview with Bechtler discussing his issuance of gold $2.50 and $5 pieces. According to Breen, the family went on to produce up to $2.2 million in gold coins by 1846, most of which were accurate in weight and wholly acceptable in local commerce. Over the years the locations of NORTH CAROLINA, CAROLINA, and GEORGIA all appeared on the Bechtler issues, no doubt referring to the original locales of the mined gold they handled. Soon after the branch mints in Charlotte and Dahlonega opened, the supply of Bechtler pieces diminished. In 1840, Alt Christoph gave his son, August, the coining business in its entirety. August issued a new denomination, the gold dollar, which he coined in large quantities between 1842 and his passing in July 1846. Christoph Jr. inherited the coining business from August, but reported drinking problems affected his health and his business sense. He reportedly abandoned the coining business altogether in 1849 or 1850, thus ending the saga of the Bechtler family's coining history. Kagin-18 is the second rarest of the four $5 varieties from Alt Christoph Bechtler's sixth series of gold coin issues, all of which are scarce to rare in numismatic circles. Indeed, this is the first example of this variety that have handled in quite some time, its status as one of the finest known to PCGS further enhancing its significance among advanced collectors. Sure to see spirited bidding at auction. Provenance: From the Samuel J. Berngard Collection. From Heritage's sale of the Riverboat Collection, Chicago Signature Auction, April 2014, lot 5406. PCGS Population: 2; 1 finer (AU-55). PCGS# 10095. Click here for certification details from PCGS.