 Schacht was born in New York, New York, where he attended the High School of Commerce.Although he compiled a 14–10 won/loss mark (with a 4.48 earned run average) in his three-year MLB pitching career and was highly regarded as a third-base coach, Schacht's ability to mimic other players from the coaching lines, and his comedy routines with fellow Washington coach Nick Altrock, earned him the nickname of "The Clown Prince of Baseball".Ironically, at the height of their collaboration, Schacht and Altrock developed a deep personal animosity and stopped speaking to each other off the field.