How much are the contents of the British Museum insured for? The priceless treasures of this incomparable storehouse of human art and industry are not insured; as they are irreplaceable. The museum originated in the year 1753; but its history really goes back to the 17th century; when William Courtens collected together "the most notable collection any person in the world enjoys". Much of the money to pay for and house the original collections was raised by a £100;000 lottery. The first home was Montague House; Bloomsbury; and it was formally opened 15 January 1759. The building now known as the British Museum was completed in 1847. Illustration for one of a set of 50 "Do You Know?" cigarette cards issued by Carreras in 1939.