Denmark Gold Coin Sells for Record $1.33 Million as Stack's Bowers Galleries Begins Offering NGC-certified Bruun Collection

An extremely rare coin from Denmark realized $1.33 million as Stack's Bowers Galleries began a series of auctions of the L.E. Bruun Collection, a spectacular group of thousands of Scandinavian coins certified by Numismatic Guaranty Company® (NGC®). The first auction, which included more than 30 coins realizing prices of more than $100,000, was held September 14, 2014.

With approximately $16.5 million in total sales (about $58,000 per lot), the auction was led by a Denmark 1496 Noble graded NGC AU 55 (lot 1001). This is the first gold coin struck by Denmark and the first dated coin from the Danish Kingdom. Believed to be unique in private hands, the coin realized €1.2 million (about $1.33 million), a record for any coin from Scandinavia.

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Also far outpacing its pre-auction estimate was a Denmark 1623 Gluckstadt 10 Ducats graded NGC AU 53 (lot 1029), which realized €504,000 (about $559,000). Issued near the middle of the 59-year reign of King Christian IV, this coin is believed to be one of only four examples to have survived — and the only one in private hands.

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The top silver coin was a Norway (1661) 2 Speciedaler graded NGC AU 58 (lot 1217), which realized €432,000 (about $479,000). Also believed to be unique in private hands, this coin celebrates Norway's vow of allegiance to the king of Denmark, which was made at Akershus, a fortress in Oslo depicted on the reverse of the coin.

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Lars Emil Bruun, a Danish entrepreneur who made his fortune in butter and real estate, amassed a collection of roughly 20,000 numismatic pieces from Denmark and other Scandinavian countries. He ordered his amazing collection to be set aside for 100 years after his death to serve as a replacement for the one owned by the Danish government, in case it was lost or destroyed. Now that a century has passed, the collection is being presented in a series of auctions. NGC, which was selected to certify the collection, is encapsulating coins with a special certification label that highlights this renowned pedigree.

The auction was held at the Odd Fellow Palace in Copenhagen, Denmark. Photos courtesy of Andy Lustig; click images to enlarge.

"NGC is proud to have brought its expert coin certification services, which are backed by the NGC Guarantee, to another one of the world's most impressive coin collections," said Ben Wengel, NGC Senior Vice President of World Coin Grading. "The prices realized by the NGC-certified coins in this sale clearly showed that collectors and dealers were bidding with confidence."

Other top highlights in the auction were:

• a Denmark (1668-69) 10 Ducats graded NGC MS 63★ (lot 1096), which realized €444,000 (about $492,000)
• an undated Denmark 10 Ducats graded NGC AU 58 (lot 1050), which realized €396,000 (about $439,000)
• a Denmark 1608 3 Goldgulden graded NGC MS 62 (lot 1021), which realized €384,000 (about $426,000)
• a Norway 1660 FG Ducat graded NGC AU Details (lot 1202), which realized €384,000 (about $426,000)
• a Norway 1656 FG 4 Speciedaler graded NGC AU 55 (lot 1196), which realized €264,000 (about $293,000)
• a Denmark 1655 5 Ducats graded NGC AU 58 (lot 1066), which realized €240,000 (about $266,000)
• a Denmark 1664 5 Ducats graded NGC MS 61 (lot 1079), which realized €228,000 (about $253,000)
• a Norway 1644 PG 4 Speciedaler graded NGC AU Details (lot 1183), which realized €228,000 (about $253,000)
• a Denmark 1659 10 Ducats graded NGC AU 55 (lot 1069), which realized €216,000 (about $239,000)
• a Danish East India Company 1671 2 Speciedaler graded NGC MS 63 (lot 1100), which realized €204,000 (about $226,000)
• a Norway 1680 PG 4 Speciedaler graded NGC MS 61 (lot 1224), which realized €192,000 (about $213,000)

Prices realized include buyer's premium. The $ symbol represents US Dollars.