THE FIRST GOLD DOLLAR: C. BECHTLER NORTH CAROLINA ISSUE

K-1, R-4. 30 Grains.

After the discovery of gold in Western North Carolina in the late 1820′s, the Bechtler Mint was opened in Rutherfordton to strike gold coins in dollar, quarter eagle and half eagle denominations. The first coin struck at this facility, ca. 1831-1834, was the gold dollar which numismatists refer to as the Kagin-1 variety. It is the very first gold dollar struck in the United States and it is an essential adjunct to any in-depth collection of Southern mint gold dollars and this specific variety is rare in AU grades, especially with natural color and choice surfaces.

This delightful example is fresh-to-the-market and it is appearing for sale for the first time in a PCGS holder. It is well made on a good quality planchet, lacking the mint-made irregularities often seen on this issue. Both sides are lightly worn and lustrous with an arc of deep amber toning at the right obverse; this color is seen more extensively across much of the reverse. While crudely made, this piece shows good overall detail and is far above-average in terms of appearance for the grade.

Only one PCGS AU53 K-1 Bechtler Dollar has appeared at auction since July, 2002. The last two NGC AU55′s, both inferior to this piece, in my opinion, brought $7,638 and $8,225, respectively.

This is the best available quality for this issue at under $10,000 and as I stated above, it is an essential adjunct to a comprehensive southern gold dollar collection.