COPENHAGEN, Sept 13 (Askume) – Danish butter tycoon Lars Emil Brun’s collection of 20,000 coins, estimated to be worth $74 million, will be auctioned in Copenhagen on Saturday, a month after his death.
The collection, held by Brun’s relatives as part of his will, includes rare Viking Age coins and medals from Denmark, Norway, Sweden and Britain. Some of the world’s richest people are expected to bid.
Born into poverty in 1852, Brun made his fortune through a butter export business. He became interested in coin collecting as a child and has amassed what he hopes will be the most valuable collection of non-US coins ever assembled.
Michael Fornitz, a professional numismatist hired by Stack’s Bowers to oversee the sale, said: “This collection is unique in many ways, partly because it is so valuable, but also because it was safeguarded for 100 years and no one ever discovered it.
After World War I, Brun feared another war or the bombing of Copenhagen, so he decided to preserve his historic collection for another century at the Royal Coin and Medal Collection in Copenhagen.
The auction will begin on Saturday, with the first lot of 286 coins to be sold. The first coin was minted in 1496 for King Hans of Denmark. The coin has an estimated value of up to 600,000 euros ($663,900).
Holding the coin in his hand, Fornitz said: “This coin was probably made for the personal use of King Hans during his travels in Europe, and he wanted to show that Denmark was not just an insignificant province in northern Europe, but was in fact a powerful country.
The collection has been shown to potential buyers in Hong Kong, Europe and the United States. Stack’s Bowers president Brian Candrella said the coins are expected to fetch prices ranging from $100 to more than $1 million.
“The buyers may include some of the richest people on the Forbes list. But there are also ordinary people who have a keen interest in history and are interested in collecting coins,” he said.
The auction is expected to last for several years, with the proceeds going to Bren’s immediate family, as stipulated in his will. Representatives for his relatives did not respond to requests for comment.
(1 USD = 6.7472 Danish Krone)
(1 USD = 0.9038 EUR)
