Historic $74 Million Coin Collection of Danish Butter Magnate Goes to Auction

The 20,000-piece coin collection of Lars Emil Bruun, valued at $74 million, will be auctioned in Copenhagen. The collection includes rare coins from the Viking age and is expected to draw bids from the wealthy. Proceeds will go to Bruun's relatives, as specified in his will.

Lars Emil Bruun's illustrious 20,000-piece coin collection, valued at an estimated $74 million, is set to be auctioned in Copenhagen on Saturday—a century after his death.

The collection, preserved by Bruun's family according to his will, boasts rare coins and medals dating back to the Viking age, representing Denmark, Norway, Sweden and England. Experts predict it may attract bids from some of the world's wealthiest individuals.

Bruun, who rose from poverty in 1852 to wealth through butter exports, developed a passion for coin collecting as a child, leading to what is considered the most valuable non-U.S. coin collection.

"The collection is unique not just for its value, but also because it's been securely preserved for 100 years," said Michael Fornitz, who is overseeing the sale for Stack's Bowers. Bruun's foresight after World War One led him to reserve his collection for a century to protect it from potential conflicts.

The auction will launch with 286 coins out of the collection, starting with a 1496 coin minted for Denmark's King Hans, estimated at up to 600,000 euros ($663,900). This coin signifies Denmark's historical significance, according to Fornitz.

The collection has been exhibited to potential buyers in Hong Kong, Europe, and the United States. Brian Kendrella, president of Stack's Bowers, noted the coins' wide-ranging appeal, from wealthy collectors to history enthusiasts. Proceeds will benefit Bruun's relatives, following his will's instructions.

A family representative declined to comment on the auction. ($1 = 6.7472 Danish crowns, $1 = 0.9038 euros)

(With inputs from agencies.)