Undated (1842-1850) August Bechtler $5. K-28. Rarity-6. 128.G., 22. CARATS. AU-55 (PCGS).An impressive high-grade August Bechtler $5, a rare issue that we have not handled since 2013. The rich yellow-gold complexion is accented by faint traces of patina around the devices on each side. The fields exhibit considerable reflective character and emphasize the boldly rendered design elements. An old mark below the 5 of the denomination serves as a convenient pedigree marker for tacking this piece through future cabinets. Nicely centered and a joy to behold. This variety, once called Rarity-8, now appears to have a total population of about 20 examples. This example is one of the finest known, and just one ranks finer at PCGS. The first gold rush in North America happened in the mountains of the Carolinas and Georgia in the early 19th century. With transportation to the mint at Philadelphia perilous at best, an enterprising family of gunsmiths and goldsmiths from Baden took up the challenge and established a private mint in Rutherfordton, North Carolina in 1831. The most successful of the Southern private assayers, the Bechtlers earned a reputation for honesty in their gold coinage and their issues circulated widely even beyond the gold regions of the South. However, just a few years after Bechtlers began production, the federal government stepped in and opened branch mints in the Lower Appalachian region. By 1838, the Charlotte and Dahlonega mints were in production and the Bechtler coinage would soon become unnecessary in the regional economy. Relatively few examples survivor overall, and those of August Bechtler remain exceptionally scarce.
