The long-awaited sale of a rare coin collection, amassed over a century by Danish butter magnate Lars Emil Bruun, is finally set to commence this fall. Valued at an impressive $72 million, the collection is poised to become one of the most significant auctions in recent history.
Bruun, who lived from 1852 to 1923, meticulously built a collection comprising 20,000 coins, medals, and paper currency, with a focus on regions connected to Scandinavia. From Danish West Indies (now the US Virgin Islands) to Tranquebar (now Tharangambadi) in India, the collection spans countries that were once under Danish, Norwegian, or Swedish rule. Notably, Bruun even collected English coins from the era when the Danes ruled England, including a substantial collection from King Canute of England.
The unique aspect of Bruun’s will was its stipulation that the collection remain intact and stored away for a century. Now, 100 years later, his descendants are ready to honor his wishes and put the collection up for auction via Stack’s Bowers, a renowned coin auction house.
“When I first heard about the collection a couple of years back, I was flabbergasted that something like this could exist,” remarked Vicken Yegparian, vice president for numismatics at Stack’s Bowers.
The decision to keep the collection intact was influenced by Bruun’s desire to safeguard Denmark’s cultural heritage, especially in the aftermath of World War I. He intended his collection to serve as a backup to the Royal Danish Collection of Coins and Medals, with the proceeds benefiting his direct heirs.
The collection, which has been mostly undisturbed for a century, will be sold in several tranches over the coming years. The first batch is scheduled to hit the auction block this fall.
Brian Kendrella, president of Stack’s Bowers, expressed confidence in the collection’s valuation. “The collection consists of roughly 20,000 objects, including 15,000 coins, 4,600 medals and tokens, 330 banknotes, and approximately 1,800 book titles,” he said. The $72 million valuation is based on the collection’s insurance value, which has been corroborated by the auction house.
While the primary market for the collection is expected to be domestic Scandinavian demand, international collectors are also anticipated to show keen interest. Recent records in the coin collecting market, such as Sotheby’s sale of a gold coin for $18.9 million in 2021, indicate a robust and steady growth in the sector.
Yegparian highlighted the international appeal of the Bruun collection, stating, “American, European, and Asian collectors are likely to be mesmerized by the story, rarity, and value of these items.”
As the auction preparations continue, the coin collecting world eagerly anticipates the sale of this extraordinary collection, which promises to captivate collectors and enthusiasts alike with its historical significance and monetary value.
