World Coins & Foreign Currency
The history of early United States coins encompasses a wide variety of money, not just coins minted within the United States. World coins were widely used across the United States, and major denominations from countries such as the Netherlands, France, and Spain circulated through the 1850s. By the early 1800s, Spanish silver, such as 8 Reales (Pieces of Eight), dominated circulation, and British coins were far less common. This began to change as the U.S. started striking its own coins, but this currency still circulated alongside it.
Foreign coins were not the only circulating currency in the New World. Private issues were also available, and some states produced circulating coins in both colonial and post-colonial times. There are several major privacy issues that originated in the Americas and circulated to varying degrees. After the colonial era, many of these were Gold coins created to fill in the gaps in higher-denomination coinage. Gold private and regional issues continued to be used even after they became technically illegal, particularly in the Western states.
The Bechtler Family
Christopher Bechtler moved from Germany to Rutherford County, North Carolina. Bechtler was assisted by his son, August, and his nephew, Christopher. Private gold coin issues, including those by the Bechtler family, were produced primarily during the Southern gold rush of the 1830s, well before the Coinage Act of 1857. Private issues still circulated in states and territories like Utah and California even after this act.
The Bechtler family issued gold private coins that circulated widely throughout the United States, and produced gold coins in $1, $2.50, and $5 denominations in a wide variety of weights and sizes. Many of these coins have rotated dies.
Gold nuggets and dust direct from the mine were not easy to use in commerce because their weight and purity needed to be assessed. The Bechtlers had proven themselves by converting dust or ore into coins and by conducting honest, accurate assays, and their reputation helped their business grow. Even after federal mints opened in Charlotte and Dahlonega in 1838, the Bechtler mint continued operations.
Late in the year 1840, Christopher Bechtler turned over control of the mint operations to his son August. Less than 18 months later, Christopher died, and August continued to strike coins. August moved the minting operation to a home in Rutherfordton, and the house still stands today. While in his new location, August produced a large quantity of A. Bechtler $1.00 Gold Coins. These coins, due to the surviving number of specimens, are the most available of all the Bechtler gold coins ever struck.
1830s Georgia Gold
After gold was found near Dahlonega in 1828, Georgia gold became one of the sources used by private minters like the Bechtlers for their coinage.
The Bechtlers created three varieties of $5.00 gold coins, all composed of Georgia gold. The obverse has the Weight in the center, “128.G.”, and the Fineness on the bottom periphery, “22 CARATS”, with a five-pointed star in between. The top periphery has “GEORGIA GOLD.” on it.
The reverse has the denomination in the center in two lines, with “5 DOLLARS.” on the bottom and at the top periphery is “C. BECHTLER.” And at the bottom periphery is “AT RUTHERFORD” and a large five-pointed star.
The next variety is exactly as described above, but after the weight 128 there is a “G:” where a colon is substituted instead of a period on the reverse.
The final variety restores the period (.) after the “G” in the Weight, but changes the obverse from “AT RUTHERFORD” to “AT RUTHERF:”.
1840’s Carolina Gold
Gold was discovered in North Carolina around 1825. Bechtler produced $1 and $5 gold pieces. There are six different varieties. The $1.00 Gold Piece has a large “1” in the center of the obverse with “A. BECHTLER. * DOL:” around the periphery. The reverse has “27. G.” in the center, “21. C.” on the lower periphery, and “CAROLINA GOLD.” on the upper periphery.
The remaining coins August struck were all $5.00. The next coin is a $5.00 Gold Piece weighing 134 Grains. The obverse has “5 DOLLARS.” on two lines, with the last line circular. The top periphery has “A. BECHTLER,” and the bottom periphery has “RUTHERFORD *” using a five-pointed star.
The next coin is also a $5 gold coin weighing 134 grains. The reverse is identical, but the obverse uses an old Christopher Bechtler die rather than an August Bechtler die.
The next coin is also a $5 gold coin weighing 128 grains. The reverse has “128. G.” in the center, “22. carats.” on the lower periphery, and “CAROLINA GOLD.” on the upper periphery.
The next coin is also a $5 gold coin, but it is the heaviest, weighing 141 grains and 20 carats, that August Bechtler ever produced.
The last coin is a proof restrike of the August Bechtler strike, struck about 1920 by coin dealer Henry Chapman. These proof restrikes are much rarer and much more valuable than the original (1830-1850s) coins.
Historical Significance & Numismatic Value
The Bechtlers struck private gold dollars before the U.S. Mint issued its own official gold dollar in 1849. These pieces were regularly circulated throughout the Southeast, though after the Coinage Act of 1834 passed and the gold price rose, many were melted.
Bechtler gold coins are uncommon and expensive in even lower grades. There are a few variants that go for over a hundred thousand dollars in high grades. Many were melted in 1834 as the price of gold rose, and an unknown number was melted during Franklin D. Roosevelt’s mass gold repossessions in 1933. The North Carolina National Bank of Charlotte has one of the largest collections of these coins still in existence, and the American Numismatic Association Museum also holds many Bechtler gold coins.
Expand your collection today with this historic gold coin and shop our assortment of California fractional & territorial gold coins.
