A Danish butter magnate named Lars Emil Bruun, also known as L.E. Bruun, amassed a 20,000-piece coin collection over his lifetime. Bruun, who was deeply moved by the devastation of World War I, stipulated in his will that the collection should be safeguarded for 100 years and used as a reserve for Denmark in case of another war. Now, over a century after Bruun’s death in 1923, the collection is set to go on auction in a series of sales beginning this fall. The collection, which could fetch up to $72 million, is considered the most valuable collection of world coins to ever come to market.
Despite the existence of Bruun’s collection being known in Denmark, it has never been seen by the public before and has been largely kept secret. Vicken Yegparian, vice president of numismatics at Stack’s Bowers Galleries, expressed disbelief upon first hearing about the collection. Born in 1852, Bruun began collecting coins as a young boy before amassing wealth in the butter industry that allowed him to build his impressive collection. The collection consists of coins, medals, tokens, and banknotes from Denmark, Norway, and Sweden. Following strict instructions in his will, Bruun left the collection to serve as a reserve for the Royal Coin and Medal Collection for 100 years before being sold at public auction.
Despite attempts by some of Bruun’s descendants to break the will and cash in, it was deemed ironclad and the collection was safeguarded for over a century. Potential buyers have already been requesting a catalogue of the collection ahead of the auction. The collection first found refuge at Frederiksborg Castle before making its way to Denmark’s National Bank and later to Denmark’s National Museum. The National Museum exercised its right of first refusal on some of the collection, purchasing seven rare coins for over $1.1 million. These coins, minted between the 15th and 17th centuries by Danish or Norwegian monarchs, are described as unique and the only existing specimens of their kind.
Senior researcher Helle Horsnaes, a coin expert at the national museum, described the impact of the collection being closed for a century as making it a legend akin to a fairytale. The collection has been stored away from the public eye for over a century, heightening the mystery surrounding it. The rarity and historical significance of the coins, as well as the unique circumstances of Bruun’s will, have contributed to the anticipation and interest in the upcoming auctions. As one of the most valuable collections of world coins ever to come to market, the auction is expected to attract collectors and enthusiasts from around the globe, eager to acquire a piece of this legendary collection.
