(1837-42) 28G N reversed G$1 Bechtler NGC MS62. A prime example of one of the first territorial gold coins. This gold dollar was struck in Rutherford, North Carolina in the largest gold rush scene before California. Made by Christopher Bechtler, an emigrant from Germany, his private gold dollars were the first of that denomination struck in the United States.

The need for territorial, or private, gold coins was born due to the shortage of coin in everyday commerce. Most frequently in gold rush area’s, populations would increase dramatically and a shortage was soon to appear. In the North Carolina gold fields, the need for change was noted by several individuals, who set up companies for the purpose of minting gold dust in coin, which was much more convenient in everyday commerce.

One of the most famous producers of these gold coins was the Bechtler family. Christopher Bechtler was the father of all coinage, beginning in 1831. In that year, he issued $2.50 and $5.00 coins at first, soon followed by gold dollars. They all had the basic design, with the weight (and in some instances fineness as well) of the gold in the center, with several legends around. The reverse usually showed the denomination, in this case spelled out “ONE”, notably with a reversed N.

The present coin is one of the later issues of gold dollars, presumably between 1837 and 1842. Kagin designates it as R-4 (76 to 200 known). In uncirculated condition, such as this piece, it is much scarcer. Most Bechtler coinage circulated freely, and pieces finer than About Uncirculated are scarce. This is a totally original coin, with green-gold coloration. Many pieces have been dipped, removing this original skin that is appreciated by many collectors. Free of any notable distractions and a wonderful representative of the Bechtler coinage.