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Sale 67
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Lot 2054
Christopher Bechtler, 5 DOLLARS NORTH CAROLINA, 150 gr. 20 carats. Beaded. NGC AU Details, mount removed, repaired. Untoned. Extremely Rare and seldom offered. Sharp details and carefully preserved otherwise, a handsome offering of this extremely rare 150 grain issue from NORTH CAROLINA.
The Bechtler coinage extended over a period of 20 years and was successful in every respect. It received the implied consent of the United States government and at the same time was widely accepted in the channels of commerce in many districts in North Carolina, South Carolina, Kentucky, Tennessee, and Virginia. Based upon the recorded coinage of $2,241,850.50 from the period 1831-1840 plus additional specimens made in the next decade, it is probable that close to a million coins, if not more, were struck bearing the Bechtler imprint.
Their prevalence in circulation at one time was attested to by one of Rutherfordton County’s older citizens who during the early 20th century told researcher Clarence Griffin that he was 16 years old before he ever saw any coins other than those minted by Bechtler.
According to researcher Dr. Donald Kagin in his book Private Gold Coins and Patterns of the United States:
Bechtler coins appearing later in 1834 bore the words "NORTH CAROLINA GOLD, CAROLINA GOLD, and GEORGIA GOLD. Since there were three different purities and corresponding weights appearing on the $5 gold coins (20 carats-140 grains; 21 carats-134 grains; and 22 carats-128 grains) it is believed that the location inscriptions actually designated three different degrees of fineness, regardless of where the stamped gold was mined.
A statement by the Acting Director of the Mint supports this theory: "Bechtler location stamps are only to assist in indicating the different qualities, as they are generally understood in that region, Georgia gold being usually the best and North Carolina the poorest." The stamped location on the coins generally corresponded with the three degrees of fine gold content and was at least equal to and usually exceeded the new United States standard (129 grains of .900 fine gold for $5). Confirmation on this point might be found in the Bechtler advertisement, wherein he offered to make special coins from "Georgia and South Carolina gold."
Note: Bechtler abandoned his coining enterprise in either 1849 or early 1850, after which he continued only as a jeweler. It is probably no coincidence that this was immediately after the Philadelphia, Charlotte, New Orleans, and Dahlonega Mints began giving him competition by coining gold dollars in quantity--discouraging a business in which the Bechtler family had enjoyed a monopoly for over 18 years. Bullion thereafter went preferentially to the federal branch mints; but Bechtler's coins continued to circulate side by side with the government's product.
Estimated Value $20,000 - 25,000.
Ex Dr. Conway Bolt Coll, April 1966, lot 1180; The William H & Beuelaress K. Helem Collection.
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