Bonhams said it decided to close the department to focus on coin sales globally.
Matthew Haley, managing director of Bonhams Knightsbridge, said: “Since Bonhams’ acquisition of Danish auction house Bruun Rasmussen in March, coins and medals, along with stamps, will be offered through Bruun Rasmussen’s online and traditional sales. The clientele for coins is global and largely online, and Bruun Rasmussen has a highly developed offering for this category.”
He added: “From this month, coin sales in the Bonhams’ network will take place in Copenhagen, rather than in London, and collectors, buyers and sellers will continue to receive a comprehensive service.”
The final medals, banknotes and coins sale at Knightsbridge was held in March.
The Bonhams coins department was originally borne out of auction house Glendinings.
Millenstead was the final boss of Glendinings (Glending & Co), which was founded as a numismatic and Asian art specialist by Douglas Glendining in 1900.
Glendinings became part of Phillips in 1947 and part of Bonhams in 2001 when Bonhams & Brooks merged with Phillips Son & Neale. The Glendinings name continued as Bonhams incorporating Glendinings but was gradually phased out over time.
Millensted, who started in 1995, will work with Bonhams as a consultant. He will also start as a consultant with Spink from the autumn.
For more read Letters this week.