Undated (1837-1842) Christopher Bechtler $5. K-21. Rarity-7. Colon after G. RUTHERFORD, 128.G:, 22 CARATS. MS-61 (NGC)An absolute prize for the most advanced specialist in Territorial gold. Pale lemon-yellow surfaces reveal considerable satiny luster in the protected areas of each side. Uniformly bold and free of notable abrasions, a few natural planchet striations are noted in the field above 128.G. Distinguished from the more common K-22 by a colon after the G of 128.G and also before the G or GEORGIA. An incredibly rare Guide Book type, fewer than 10 examples are though to exist, this piece being the sole finest certified of all known. It has been over 12 year since our last offering of this variety, when we sold the AU-58 (PCGS) Adams specimen for $115,000 in our January 2008 sale. This particular example has not been sold at auction in nearly a decade, emphasizing the true significance of this offering.<p>The Bechtler family headed by Alt Christoph, his two sons August and Karl, and nephew Christoph arrived from Pforzheim in Baden, first to New York then Philadelphia where they opened a watch repair shop in Philadelphia. Accomplished gunsmiths and watchmakers, likely well aware of the large quantities of gold coming from the Southern Appalachian Mountains, the Bechtlers picked up and headed to Rutherford County, North Carolina in March or April 1830. Beginning sometime in July of 1831, Christopher Bechtler, as Alt Christoph had become known, set up his own assay office and private mint just north of town. The family started out coining $2.50 and $5 coins, all very utilitarian in design, then later they also introduced the nations first gold dollar, beating out the United States Mint by about 17 years.<p>The fineness of the gold coming to the Bechtlers mint varied widely depending on where it was mined. GEORGIA came to mean the finest gold at roughly 22 carats, CAROLINA at 21 carats, and finally N. CAROLINA at 20 carats. The Bechtlers created and modified dies depending on the purity and weight, and in so doing creating a wide variety of different coin types. The federal government got into the act in 1838 and established branch mints near the gold-producing regions at Charlotte and Dahlonega, which impacted the Bechtlers minting operations. Health issues along with a penchant for overindulging in alcohol led to a decline in business and finally sometime around 1849 or 1850 Christopher Jr. shut the coining business down in its entirety. The Bechtler coins were heavily used throughout the Southern states for many years afterwards. The Georgia-marked pieces at their higher purity level were especially in demand, which also meant they suffered from wear as well as later meltings. The Mint actively tried to pull any examples of Bechtlers coins out of circulation and used them for their own products, leaving behind only a comparative few for todays collectors to enjoy.PCGS# 10106. NGC ID: 6HK7.NGC Census: 1; none finer.Ex Heritages sale of January 2011, lot 5713.
