Lot 4881
Christopher Bechtler, ONE DOLLAR N. CAROLINA, 28 gr. centered, no star. . Kagin-3, Breen-7747 "Very rare". NGC graded MS-61. Well struck and mostly untoed. The surfaces are prooflike. Bright light-golden luster on nicely reflective mint bloom. A touch of weakness and a "wavy" planchet that is normally seen on the commer varieties, is here nowhere to be seen. We do require mention of some minor adjustment-type marks along one portion of the rim at INA GOLD, possibly a minting artifact. An historic early Gold Dollar. The Federal government only experimented with making a gold dollar in 1836, yet did not strike one for circulation until 1849. However, from the 1830s well into the 1850s, the firm run by the Bechtler clan had one-upped the U.S. Mint and been striking this useful denomination for many years. Bechtler's coins circulated far and wide. They were accepted at par with regular United States coinage denominations and are mentioned in the economic histories of the time. Pop 4; 1 finer in 62. (PCGS # 10058) .
Historic reference: According to noted authority on Territorial Gold Coins, Donald Kagin, in his book "Private Gold Coins and Patterns of the United States," of all the private coiners, "Bechtler's operation was one of the fairest to the miners, as evidenced by the longevity of the mint (almost 20 years) and its substantial production (over $2 million).
"Having perceived a need for a smaller denomination, Bechtler issued the first $1 gold piece in the United States about the latter part of 1831. Another major modification in the Bechtler coinage occurred in 1834. That year Congress passed a bill reducing the gold content of our gold coins. Bechtler prepared new dies engraved with the date "August 1, 1834" and began producing new coins with the reduced weight.
"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.
Estimated Value $18,000 - 20,000.
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