The highly valued coin collection regarded as potentially the most expensive globally is set for auction, having been prohibited from sale for a hundred years.
Next month, around a year after the expiration of a century-old decree, some prized coins from Bruun's private collection of 20,000 pieces will be auctioned off. It will require multiple sell-offs to deplete Bruun's funds totally, but upon completion, it will become the most pricey international coin collection ever sold, as per Stack's Bowers, the exclusive rare coin dealer and auction house handling these sales. The L.E. Bruun Collection has been insured for 500 million Danish kroner, approximately $72.5 million, and is described as the most expensive collection of world coins ever presented for sale.
The whereabouts of the numismatic's collection over the past century were a secret, known only to a select few. However, Bruun believed that concealing his riches served a noble purpose; witnessing the devastation of World War I, he feared that the Royal Danish Coin and Medal Collection could potentially be targeted for bombing or looting, as mentioned by the auction house.
Bruun's fascination with currency began when he was a child in 1859, inheriting some coins from his deceased uncle. The son of a tavern owner and landlord, he learned in his late twenties that his family's wealth had been mismanaged, leaving him burdened with debt. With a loan, he started a butter business, which later prospered due to sales and exports. His prosperity enabled him to become an avid coin collector and a founding member of the Danish Numismatic Society in 1885.
"The positive aspect of coin collecting is that when you are upset or feel uneasy, you go and look at your coins, and then calm down by studying them again and again, contemplating the numerous unsolved mysteries they present," he once shared in a Danish magazine, as per the catalog. "Businessmen who are solely focused on their business make a crucial mistake. I, for one, could never imagine dedicating my entire life to butter until my last breath."
For the initial sale on September 14, Stack's Bowers will auction over 280 lots, including gold and silver coins from Denmark, Norway, and Sweden, dating from the late 15th century to the later years of Bruun's life. Valued at over $10 million, these pieces will be the main focus. The standout item is one of Scandinavia's oldest gold coins, according to the catalog - a noble from King Hans dated 1496, which could fetch up to €600,000 euro, or $672,510.
"Without a doubt, my favorite piece in the sale is the 1496 gold noble of King Hans, who was king of Denmark and Norway under the Kalmar Union, as well as Sweden for a short period. It is significant on numerous fronts - it's the first gold coin ever struck by Denmark, the first dated coin issued by the Danish kingdom, and it's one of a kind in private hands," said Matt Orsini, director of world and ancient numismatics at Stack's Bowers Galleries, in a press announcement.
Over the past few months, the coins have made appearances at various fairs and exhibits at Stack's Bowers' galleries. Before the auction, they will be on display in Copenhagen.
Despite Bruun's collection being renowned for its historical significance and rarity, its style exudes an aura of luxury, with each coin meticulously preserved and presented. Following Bruun's death, his descendants decided to sell this luxurious collection to ensure its preservation and accessibility to collectors worldwide.
