A Historic Auction
Next month, a century-old ban will be lifted, allowing the auction of what is believed to be the world’s most valuable coin collection. This collection, amassed by Danish butter magnate Lars Emil Bruun over more than six decades, was initially restricted from sale following his death in 1923. Bruun’s will stipulated that his extensive collection of coins, notes, and medals be preserved as a reserve for Denmark’s national collection, only to be sold if the national collection remained intact.
Now, nearly 100 years after Bruun’s death, his collection is set to be auctioned, marking what is anticipated to be the most expensive international coin collection ever sold. According to Stack’s Bowers, the auction house handling the sale, the L.E. Bruun Collection is insured for approximately 500 million Danish kroner, or about $72.5 million. This makes it the most valuable collection of world coins ever to come to market.
A Legacy of Preservation
The exact whereabouts of Bruun’s collection during the past century were shrouded in mystery. Bruun had envisioned his collection as a safeguard against the destruction he witnessed during World War I, fearing that the Royal Danish Coin and Medal Collection might suffer similar fates of bombing or looting.
Bruun’s journey into coin collecting began in 1859, following the death of his uncle who left him some coins. Despite facing financial difficulties and debt in his youth, Bruun successfully ventured into the butter trade, amassing significant wealth. His passion for numismatics led him to become a founding member of the Danish Numismatic Society in 1885. He described his love for coin collecting as a source of solace and intellectual engagement, providing a contrast to his business endeavors in butter.
First Auction Details
The initial auction, scheduled for September 14, will feature over 280 lots, including gold and silver coins from Denmark, Norway, and Sweden, spanning from the late 15th century to the later years of Bruun’s life. The total value of the first batch is estimated to exceed $10 million. Highlights include a gold noble from 1496, one of Scandinavia’s oldest gold coins, potentially fetching up to €600,000 (approximately $672,510). The total high estimate for this first round of auctions is over €13 million, or $14.6 million.
Matt Orsini, Director of World and Ancient Numismatics at Stack’s Bowers Galleries, noted that the 1496 gold noble of King Hans is a particularly significant piece. “It’s the very first gold coin struck by Denmark, the first dated coin from the Danish kingdom, and it’s unique in private hands,” Orsini remarked.
Upcoming Exhibits
Before the auction, the coins will be displayed in Copenhagen and have toured various fairs and Stack’s Bowers’ galleries. The sale promises to be a landmark event in the world of numismatics, offering collectors and investors a rare opportunity to acquire pieces of unparalleled historical and monetary value.
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