(1837-42) $5 C. Bechtler Five Dollar, Colons Obverse, AU58 PCGS. CAC. K-21, R.7....

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(1837-42) C. Bechtler Five Dollar, AU58
Rare Colons Obverse Variety, K-21
Tied for Finest at PCGS
CAC-Approved Quality

(1837-42) $5 C. Bechtler Five Dollar, Colons Obverse, AU58 PCGS. CAC. K-21, R.7. Ex: Newcomer-Kagin-Allan. 128 grains. Christopher (a.k.a. Alt Christoph) Bechtler emigrated to this country, along with his family, from the German city of Pforzheim. The Bechtlers arrived initially in New York City, but soon moved to Philadelphia, where they opened a watch repair shop. The Bechtlers were skilled gunsmiths, metal workers, and watchsmiths, all skills that were in demand in southern Appalachia, where the discovery of gold in the 1820s led to the first American gold rush. Sensing opportunity, the Bechtlers relocated to Rutherford, North Carolina in March or April of 1830. By July 1831, Christopher Bechtler established an assay office and private mint just outside of town, to supply the booming regional economy with much-needed coinage. The Bechtler family maintained the coinage operations until 1849 or 1850, issuing one dollar, two and a half dollar, and five dollar gold coins of various simple designs throughout that period. Bechtler's coins were widely circulated in the region until the Civil War, even after the government opened the branch mints at Dahlonega and Charlotte in 1838.

The K-21 variety of Bechtler's five dollar gold piece is a celebrated rarity among Territorial gold collectors, distinguished from other 128 G(rain) issues by a colon instead of a period after the G. When Donald Kagin first published his standard series reference in 1981, the K-21 was considered to be an R.8 variety (1-3 examples known), but a few more coins have surfaced since. PCGS and NGC have combined to certify eight coins between them, possibly including a few resubmissions and crossovers (11/23). Only one piece has been graded in Mint State, an MS61 example at NGC. Hence, the present coin is tied for second place in the Condition Census for the issue.

The bright orange gold surfaces of this impressive near-Mint specimen exhibit just the faintest trace of actual wear, but all the lettering and other design elements remain bold. Attractive highlights of peach and violet patina enhance the obverse, with hints of dark rose, pale orange, and cerulean-blue on the reverse. Traces of original mint luster remain intact in sheltered areas, mixed with some hints of prooflike reflectivity. No distracting digs or serious abrasions are evident. Eye appeal is outstanding for a coin of this vintage and the high quality within the grade is confirmed by CAC. This coin was once a highlight of several famous collections (see pedigree below) and is tied for finest-certified honors at PCGS (11/23). It should find a home in the finest collection or Registry Set. Housed in a PCGS 30th Anniversary green label holder. This coin is pictured on PCGS CoinFacts. Listed on page 407 of the 2024 Guide Book. Population: 2 in 58, 0 finer. CAC: 2 in 58, 0 finer (11/23).
Ex: Waldo Newcomer; Henry Clifford Collection; Kagin Collection; Allan Collection; ANA National Money Show Auction (Kagin's, 3/2017), lot 1626.
From The Old Pioneer Collection.

Coin Index Numbers: (NGC ID# 2B9U, PCGS# 10106, Greysheet# 11725)

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