The vast coin collection of Danish butter magnate Lars Emil Bruun is set to go on sale a century after his death and could fetch up to $72 million. Bruun, who died in 1923, stipulated in his will that his collection of 20,000 coins be safeguarded for 100 years before being sold, with the goal of serving as a reserve for Denmark in case of another war. New York-based rare coin auction house Stack’s Bowers will begin auctioning the collection this fall, marking the first time the collection will be seen by the public.
Vicken Yegparian, vice president of numismatics at Stack’s Bowers Galleries, expressed disbelief upon learning about the collection. He noted that while there have been collections off the market for over 100 years, Bruun’s collection has remained a relatively unknown “open secret.” Born in 1852, Bruun began collecting coins as a boy and amassed a significant collection of coins, medals, tokens, and banknotes from Denmark, Norway, and Sweden. Despite some descendants trying to break the will and cash in on the collection, the stipulations were ironclad, preventing any loopholes.
Following the devastation of World War I, Bruun left strict instructions for his collection in his will, stating that it should serve as a reserve for the Royal Coin and Medal Collection for 100 years after his death. If the national collection remained intact after the century, the collection was to be sold at public auction, with the proceeds going to his direct descendants. The collection found refuge at Frederiksborg Castle before eventually making its way to Denmark’s National Bank. The National Museum purchased seven rare coins from the collection, minted between the 15th and 17th centuries by Danish and Norwegian monarchs.
Yegparian estimates that while some pieces may sell for as little as $50, others could fetch over $1 million. Potential buyers were already requesting catalogues before the auction was announced, indicating significant interest in the collection. Helle Horsnaes, a senior researcher and coin expert at the National Museum, described the collection as legendary due to its century-long closure and unique pieces. The coins purchased by the National Museum were chosen for their rarity and historical significance, adding to the allure of Bruun’s collection. The upcoming auctions of the collection are expected to generate significant attention and interest from collectors worldwide.
