2011

August 1, 1834. C. Bechtler $5 Gold. Kagin-17. Rarity-5. With 140 G, No Beads. Plain Edge. Carolina

Currency:USD Category:Coins & Paper Money / Bechtlers Start Price:2,900.00 USD Estimated At:8,700.00 - 14,500.00 USD
August 1, 1834. C. Bechtler $5 Gold. Kagin-17. Rarity-5. With 140 G, No Beads. Plain Edge. Carolina
SOLD
8,000.00USD+ (1,400.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2017 Sep 15 @ 22:51UTC-7 : PDT/MST
DON’T FORGET!
You get 1% of your purchases back as
credit towards your next two Kagin’s Auctions!
This deep yellow-gold specimen exhibits olive and peach highlights throughout. Small but natural planchet flaws dot the surfaces, as struck, and not visually distracting to the unaided eye. The A punch is actually an inverted V, except in CARATS where a faint crossbar is noted in that letter. Dies aligned just past 180 degrees or coin turn. Here is an altogether pleasing coin with good retained luster and no serious marks other than some scattered hairlines and some natural flaws mentioned earlier.
While it pales in comparison to the California Gold Rush, our nation's first gold rush and its resultant private gold coinage commenced in Southern Appalachia in 1830. It lasted until the 1850s, well after most of the mines petered out. Over $2 million worth of $1, $2 ½ and $5 gold pieces were struck by the most prolific and respected private gold coiner of the area. Christopher Bechtler, his son, August and nephew, Chris, Jr., collectively known as
The Bechtlers, issued the first gold dollars in the United States, preceding the United States Mint by eighteen years.
In contemplation of a new coinage act of 1834, the U.S. Secretary of the Treasury recommended to the Director of the Mint that the newly authorized reduced weight and the date of the act, “August 1, 1834,” be inscribed on U.S. gold coins issued after this act’s passage. Although this suggestion was not adopted for our regular coinage, Christopher Bechtler, in an attempt to avoid antagonizing the Treasury, designed his coins with their weight and, on the $5 piece, the new act’s date. This specimen is an example of one of those coins.
Many of the Bechtler coins actually contained a bit more than their face value. So successful was their mint, that their coins even traded for a premium during the Civil War!
This is a perfect type coin from our nation’s first gold rush. It is original ,not a rare variety, and it is a relatively inexpensive high end specimen. Well worth a bout of serious bidding activity. Housed in a PCGS 30th Anniversary green label holder.
PCGS # 10091