The mediaeval castle has had an eventful history. First badly damaged by an earthquake, it only became really well known after the Saffron War. In 1798, the angry rural population set the castle on fire, after which the ruins were left to their fate and to crumble away.

The origins of the castle near Balsthal in the canton of Solothurn probably date back to the 12th century. Among other things, it was the seat of the Barons von Bechburg.

In 1356, the castle was badly damaged by the Basel earthquake, resulting in wearisome repairs. These almost amounted to the construction of a brand-new building, which led to the misleading name of Neu-Falkenstein. Despite its name, it is assumed that the castle is older than Alt-Falkenstein Castle on the other side of the valley.

In 1374, the castle experienced some wild times: Hennmann von Bechburg believed that he had been poorly paid for his services by the bishop. He therefore had a group of traders attacked on the road and stole a large amount of valuable saffron, among other things. This turned out to be a bad idea, however. Troops from Basel and Bern then laid siege to the castle on behalf of the bishop until its occupants finally surrendered. The soldiers were beheaded, while Hennmann escaped with his life.