Austria | |
Edge | Smooth |
---|---|
Composition | 99.99% gold, 99.95% platinum, 99.9% silver |
Years of minting | 1989–present |
Obverse | |
Design | Musikverein Pipe Organ |
Designer | Thomas Pesendorfer |
Design date | 1989 |
Reverse | |
Design | Orchestra instruments |
Designer | Thomas Pesendorfer |
Design date | 1989 |
The Vienna Philharmonic (German: Wiener Philharmoniker), often shortened to Philharmonic, is a bullion coin of gold, silver, or platinum produced by the Austrian Mint (Münze Österreich). The coin is named for the Vienna Philharmonic orchestra, which inspired the design of both sides. It was introduced in 1989, as a one-troy ounce (ozt) gold coin with a face value of 2,000 Austrian schillings. It is one of the world's best selling bullion coins.[1][2] In 2002, with the adoption of the euro currency, the nominal value of the one-ounce coin was changed to 100 euros. In 2008, the Mint introduced a one-ounce silver version of the coin with a nominal value of 1.5 euros. The silver coin is also one of the top selling bullion coins, ranked third in 2013.[1] In 2016, the mint introduced a one-ounce platinum coin with a face value of 100 euros.[3]
Like any bullion coin, the value is based primarily on the metal content and the spot price of that metal on the commodities markets. The gold Philharmonic has a fineness of 999.9 (often written 0.9999, also known as 24 karat or 99.99% pure).[4] In most countries in Europe, the gold Philharmonic is traded VAT-free while the Silver Philharmonic is partly subject to a reduced VAT rate. The coins are minted according to demand and production varies from year to year accordingly. The design on the coin remains the same each year; only the year of issue changes. From the outset, the obverse of the coin depicts the pipe organ in the Vienna Musikverein's Golden Hall. The reverse of the coin shows instruments of the Vienna Philharmonic, including Vienna horn, bassoon, harp, and four violins centered on a cello. Both designs were produced by the Chief Engraver of the Austrian Mint, Thomas Pesendorfer.
The Gold Maple Leaf sales took first place at 1,140,000 oz while the Gold Eagle came in second at 856,500 oz, followed by an estimated 750,000 oz of South African Krugerrands, 544,000 oz of Gold Philharmonics, and 460,082 Gold Pandas.
The United States, Canadian and Austrian Mints, which between them produce three of the world's top five bullion investment coins, all reported lower sales in the first quarter of 2012 versus a year ago.
The Austrian Mint has issued a new platinum Vienna Philharmonic coin as the latest addition to its internationally renowned coin range. Unveiled at the Berlin Coin Fair, the coin marks the Austrian Mint's first platinum offering.
1 ozt Au
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