C. Bechtler $5 Restrike PR65 PCGS....

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High R.7 K-31 Bechtler Five
Gem Proof Chapman Restrike

C. Bechtler $5 Restrike PR65 PCGS. K-31, High R.7. This is a muling of two different Bechtler five dollar dies. The die with BECHTLER, commonly known as the reverse die, was previously used to strike K-16 during Christopher Bechtler's day, circa 1834 to 1837. The die with the weight and fineness, typically known as the obverse die, helped strike K-29 during the 1842 to 1852 production era of Christopher's son, August Bechtler.
Professional coin dealer Henry Chapman encountered three Bechtler five dollar dies circa 1908, one obverse and two reverses. He struck a very limited number of proof restrikes, listed as K-30 and K-31 in Kagin's standard reference. K-30 and K-31 share the same obverse but have different reverses. The obverse of the present K-31 lot has less rust than the previous lot (a K-30), which indicates the obverse die was further polished prior to the production of K-31.
This exquisite Gem has flashy fields, and is smooth aside from a whisper of mint-made die rust. The strike is unimprovable. A vertical die crack, diagnostic for the variety, is present beneath the second A in CARATS. Heritage last auctioned an example of K-31 in 1996. Mentioned on page 351 of the 2008 Guide Book.
From The Stephen L. Schechter Collection of Bechtler Territorial Gold.

Coin Index Numbers: (NGC ID# 2BDD, PCGS# 10124, GSID# 11735)

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