LOT Bowers and Merena Auctions  /  The September 2008 Beverly Hills Rarities Sale  / 

679

Undated August Bechtler $5 Gold Restrike.PR64 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:15,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
Undated August Bechtler $5 Gold Restrike.PR64 NGC
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<span style="font-size: large;">Lot #679. Undated (Circa 1921-1922) August Bechtler. $5 Gold Restrike. K-30. Rarity-7+. 141 G., 20 CARATS. Proof-64 (NGC).</span>
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This is the first example of this extremely rare Bechtler restrike that this cataloger has handled in 10 years as a numismatic professional. Sometime during the first two decades of the 20th century, the renowned Philadelphia coin dealer Henry Chapman obtained three original dies that were initially used to strike privately issued Bechtler gold coins during the Lower Appalachian Gold Rush. The single obverse that he obtained is that of Kagin-29, which corresponds to the elusive 141 G., 20 CARATS <EM>Guide Book </EM>variety. The two reverses are very similar with the inscription 5 DOLLARS in the center and the word RUTHERFORD and a five-pointed star below. One reverse is inscribed C. BECHTLER however, while the other has the inscription A. BECHTLER along the upper border. These two reverses correspond to those of the original Kagin-16 and Kagin-27 varieties, respectively.<BR>Numismatic sources disagree on exactly when Chapman obtained these dies, with some suggesting 1908 and others claiming much later. Most scholars agree, however, that Chapman did not use these dies to produce restrike Bechtler Five-Dollar gold coins until 1921-1922. Sometime in late 1921 or early 1922, Chapman took the dies to the Philadelphia Mint and had a small number of restrikes prepared. Based on a receipt dated March 22, 1922 that Chapman received from Ada C. Williams, medal clerk at the Philadelphia Mint, ten Bechtler gold "medals" were prepared from these dies. The receipt did not specify the exact usage of the C. BECHTLER and A. BECHTLER reverse dies, but Walter Breen (1988) speculates that the 10-piece mintage was divided into five examples of each type. Breen also does not rule out the possibility that Chapman had additional proof restrikes prepared at a later date, and current PCGS and NGC population data seems to support this theory. Based on the number of coins certified to date, and taking into consideration the possibility of resubmissions, we have arrived at a combined estimated mintage of 15-20 coins for both restrike types.<BR>Interestingly, the C. BECHTLER restrikes do not correspond in design to an original Bechtler Five-Dollar delivery. Those coins, therefore, are mules that combined the obverse die of the original Kagin-26 variety (An A. Bechtler issue!) and the reverse used to strike the original Kagin-16 variety. The A. BECHTLER restrikes, on the other hand, do display the same design as the original Kagin-29 variety.<BR>The A. BECHTLER restrike that we are offering here is somewhat rarer than the C. BECHTLER type, and the extant population is probably on the order of just 7-10 coins. The physical characteristics of this piece confirm that it could never have been struck during the 1840s or early 1850s, and certainly not under the rustic conditions that must have prevailed at the Bechtlers' private minting facility in Rutherford County, North Carolina. For starters, the fields are highly reflective and, in conjunction with full, razor-sharp striking detail, confirm the proof designation by which these restrikes are classified. Additionally, the rims are sharply squared off with crisp denticulation. As with all Bechtler restrikes, this piece exhibits a sharp die crack (as struck) from the lower-obverse rim to the second letter A in CARATS. Close inspection with a loupe also reveals numerous tiny die rust pimples (as made) that suggest long-term storage of the dies before they were pressed into service to create these restrikes. It is interesting to note that considerable evidence of die rust remains even through scattered striations in the fields confirm that the dies were polished before being used to create these restrikes. Mint personnel probably also used polished planchets for these special pieces.
Once leaving the Mint, this coin was obviously well preserved. The surfaces have come down to us with only wispy handling marks, none of which are worthy of singular attention. Richly toned, we also note blended olive-gold undertones and warmer reddish-orange patina to both sides. An extremely rare specimen, this restrike is destined for inclusion in an advanced Territorial gold set. Beautiful!


<span style="font-size: smaller;">Cert Number: 687475012 </span>
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Postage And Insurance
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<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl02_PurchaseAmountTemplate">$0.00 to
$200.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl02_PostageAmountTemplate">$6.50</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl03_PurchaseAmountTemplate">$201.00
to $300.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl03_PostageAmountTemplate">$9.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl04_PurchaseAmountTemplate">$301.00
to $1,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl04_PostageAmountTemplate">$10.50</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl05_PurchaseAmountTemplate">$1,001.00
to $2,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl05_PostageAmountTemplate">$13.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl06_PurchaseAmountTemplate">$2,001.00
to $3,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl06_PostageAmountTemplate">$17.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl07_PurchaseAmountTemplate">$3,001.00
to $5,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl07_PostageAmountTemplate">$18.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl08_PurchaseAmountTemplate">$5,001.00
to $10,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl08_PostageAmountTemplate">$23.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl09_PurchaseAmountTemplate">$10,001.00
to $25,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl09_PostageAmountTemplate">$27.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl10_PurchaseAmountTemplate">$25,001.00
to $50,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl10_PostageAmountTemplate">$42.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl11_PurchaseAmountTemplate">$50,001.00
to $75,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl11_PostageAmountTemplate">$55.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl12_PurchaseAmountTemplate">$75,001.00
to $100,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl12_PostageAmountTemplate">$70.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl13_PurchaseAmountTemplate">$100,001.00
to $250,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl13_PostageAmountTemplate">$100.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl14_PurchaseAmountTemplate">$250,001.00
to $500,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl14_PostageAmountTemplate">$175.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl15_PurchaseAmountTemplate">$500,001.00
to $750,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl15_PostageAmountTemplate">$250.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl16_PurchaseAmountTemplate">$750,001.00
to $99,999,999.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl16_PostageAmountTemplate">$400.00</span>
</td>
</tr>
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Bowers and Merena Auctions was founded in 1983 and has grown to become the world's
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