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World War I-Era Coin Collection Unveiled and Sold for $16.4 Million

Daniel Kim Views  

A rare collection of coins, locked away for 100 years by the will of a Danish tycoon who instructed that they not be sold for a century, has been auctioned for over €14.8 million (about $16.4 million).

According to recent reports by CNN and other media outlets, Lars Emil Bruun, a Danish butter magnate and numismatist, specified in his will that his collection could only be sold after a century had passed and everything was in good order.

Bruun was known as a prominent collector during his lifetime. His collection, amassed over more than 60 years, included around 20,000 items, featuring rare coins such as a gold coin from Scandinavian royalty issued in 1496 and coins commemorating King Frederick of Norway from the 17th century.

During World War I, Bruun witnessed the destruction and looting of cultural artifacts in various countries and feared that his collection might suffer the same fate. As a result, he instructed his descendants that his collection should serve as an emergency reserve in case Denmark was ever destroyed. He also stipulated that 100 years after his death, if the royal collection of Denmark was still intact, his collection could be sold, and the proceeds passed on to his direct descendants.

However, not all of his descendants adhered strictly to his wishes. Some attempted to sell the coins, but Bruun’s will was so meticulously drafted that they had to watch over them for 100 years. During that time, Bruun’s collection was never publicly displayed.

Because it was widely known that Bruun had collected rare coins from Denmark, Norway, Sweden, and other European countries, many buyers lined up even before the official auction began.

Because it was widely known that Bruun had collected rare coins from Denmark, Norway, Sweden, and other European countries, many buyers lined up even before the official auction began. These included six gold coins and one silver coin minted in Denmark and Norway between the 15th and 17th centuries, with reports indicating they paid over $1.1 million.

The auction featured 286 coins, which sold for a total of $16.5 million. A Scandinavian gold coin fetched the highest price, at 1.2 million euros ($1.34 million).

With more than 20,000 items in the collection, multiple auctions are expected to occur. Stack’s Bowers, the auction house hosting the sale, has predicted that once Bruun’s collection is fully sold, it will become the most valuable coin collection in history. Bruun’s collection is insured for 500 million kroner (approximately $72.5 million).

Daniel Kim
content@viewusglobal.com

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