Danish Butter Tycoon's $74M Coin Collection Heads to Auction After Century
A 20,000-piece coin collection, valued at $74 million, from Danish butter magnate Lars Emil Bruun is set for auction in Copenhagen. The century-old collection includes rare coins dating back to the Viking age.
In a remarkable event set to captivate numismatists and history enthusiasts alike, the extensive coin collection of Lars Emil Bruun, a Danish butter magnate, is scheduled for auction on September 16, 2024, in Copenhagen. This extraordinary assemblage, valued at an estimated $74 million, has remained untouched for a century, honoring Bruun's final wishes.
The collection boasts 20,000 pieces, featuring rare coins and medals from Denmark, Norway, Sweden, and England, with some dating back to the Viking Age (793-1066 AD). Michael Fornitz, a numismatic expert appointed by Stack's Bowers auction house, describes the collection as "unique" due to its substantial value and century-long preservation.
Lars Emil Bruun, born into poverty in 1852, built his fortune through the butter export industry, which was pivotal to Denmark's economy in the late 19th and early 20th centuries. His childhood passion for coin collecting resulted in what is anticipated to be the most valuable non-U.S. coin collection ever auctioned.
Following World War I, Bruun, concerned about potential future conflicts or bombings in Copenhagen, arranged for his historic collection to be held in reserve for the Royal Coin and Medal Collection in Copenhagen for 100 years. This decision was likely influenced by historical events such as the British Royal Air Force's bombing of Copenhagen in 1807 during the Napoleonic Wars.
The auction will commence with the sale of 286 coins, starting with a coin minted in 1496 for Denmark's King Hans, who ruled from 1481 to 1513. This particular coin, estimated to fetch up to 600,000 euros ($663,900), was likely struck for the king's personal use during his European travels, serving as a symbol of Denmark's significance.
Brian Kendrella, president of Stack's Bowers, notes that the coins are expected to sell for amounts ranging from less than $100 to over $1 million each. Potential buyers may include some of the world's wealthiest individuals, as well as dedicated coin collectors and history enthusiasts.
"The collection is unique in many ways, partly because it's so valuable, but also because it's been kept safe as a sleeping beauty for 100 years without nobody having access to the coins."
The proceeds from the auctions, which are expected to continue for several years, will be distributed to Bruun's direct relatives, as stipulated in his will. This event not only highlights the historical significance of numismatics but also showcases Denmark's rich cultural heritage, from its Viking roots to its prominence in European trade and diplomacy.
