RARE A. BECHTLER HALF EAGLE, PCGS/CAC EF45

K-28, R-6. CAROLINA GOLD, No Star in the center, Rutherford. 128 Grain, 22 Carat.

This is an important issue in the Bechtler series as it represents the single appearance of a 22 carat gold issue marked as being struck from Carolina gold. Other issues from this series are known with 22 carat gold stamps, but they are from Georgia gold. This issue is quite scarce in all grades with fewer than two dozen known in all. The single finest known is a PCGS MS61 which sold for a record-setting $52,900 back in March 2006, and there are likely not more than three or four properly graded AU coins known, all in the 50-53 range.

This is an outstanding example which could easily have graded AU50. It is well-defined and evenly worn with good balance between the obverse and the reverse. The surfaces are very clean save for an old horizontal scratch over 128 G and there are some light hairlines on the reverse. The color is especially nice with deep reddish-gold hues in the lettering and an overall shade of natural green-gold.

The last PCGS EF45 example of this variety to sell at auction brought $21,600 as Heritage 2022 FUN: 4459, which was also CAC approved but, in my opinion, was a little less choice than this piece. Heritage sold a PCGS AU50 for $16,450 in April 2014 but it was not choice and it lacked CAC approval. In fact, the only nicer K-28 to sell in many years was the PCGS/CAC AU53 which went reasonably for $21,150 as Kagin 3/2017: 1671.

After years of collector disinterest, the Bechtler series became in-demand as has all Pioneer gold beginning with the January 2022 sale of the Buffalo Bayou Collection and continuing up to the present day.

CAC has approved just two in EF45 with two finer.

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