Value 100 € Diameter 37.0 mm Edge reeded | Mass 31.103 g Thickness 2.0 mm Composition 99.99% gold | |
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The Vienna Philharmonic, often shortened Philharmonic, is a bullion coin of gold, silver, or platinum, produced by the Austrian Mint (Münze Österreich AG). It is named for the Vienna Philharmonic orchestra (Wiener Philharmoniker), which inspires the design of both sides of the coins. The one troy ounce (ozt) gold version was first introduced in 1989 with a face value of 2,000 Austrian schillings (ATS) and is generally one of the world's best selling bullion coins. In 2002, with the adoption of the euro currency, the nominal value of the one ounce coin was changed to €100. In 2008, the Mint introduced a one-ounce silver version of the coin with a nominal value of €1.50. The silver coin is also one of the top selling bullion coins, ranked third in 2013. In 2016, the mint introduced a one ounce platinum coin with a face value of €100.
Contents
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 carat or 99.99% pure). 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.
History
The gold Vienna Philharmonic was first offered on October 10, 1989. Initially, it was minted in only two sizes: one troy ounce as well as a quarter ounce. The one tenth and one half ounce coins were added in 1991 and 1994 respectively. All coins feature the same design with the only difference being the weight and face value shown. In 2014, a 1/25 ounce coin was added with a face value of €4.00. The popularity of the Vienna Philharmonic grew quickly: in 1990, the coin was the best selling in Europe and second in the world. In 1992, 1995, 1996 and 2000 the World Gold Council declared it the best-selling gold coin in the world. Since its introduction in October 1989 up to 2012, more than 14 million Philharmonics have been sold for a total weight of 9.6 million ounces or approximately 329 tons of gold.
Since February 1, 2008, a 1-ounce silver version of the coin with a nominal value of €1.50 has been issued, struck from 99.9% pure silver. Unlike the reeded edge of the gold coin, the edge of the silver coin is smooth. Coins are shipped in boxes of 500, called "monster boxes." Each monster box consists of 25 tubes of 20 coins each. Sales of the silver Philharmonic have been brisk with over five million coins sold, equal to 1,800 tons of silver in the 5-year period of 2008 through 2012.
The mint introduced a one ounce platinum coin with the same design as the gold and silver in 2016. Like the gold coin, it has a face value of 100. The purity is shown as 999.5 with the obverse of the coin reading "1 UNZE PLATIN 999.5."
The Vienna Philharmonic is currently the only European bullion coin with a face value in euros, although it is only legal tender in Austria. In 2004, the Vienna Philharmonic accounted for 35 to 40% of sales in Europe. It is also popular in Japan and North America.
Gold Philharmonic specifications:
Silver Philharmonic specifications:
Platinum Philharmonic specifications:
Big Phil
For the 15th anniversary of the Vienna Philharmonic bullion coin in 2004, the Austrian Mint created a 1,000 ounce version with nominal value €100,000. The "Big Phil" coin consists of 31.103 kg of pure gold. Dimensions were increased by tenfold over the one ounce coin yielding a diameter of 37 cm and 2 cm thickness (10 times thicker; 100 times wider; thus 1000 times heavier than the 1 ozt. coin). It was one of the largest coins with the highest denomination until it was eclipsed in 2007 by the Royal Canadian Mint's 100 kg version of the Canadian Gold Maple Leaf with a face value of CA$1,000,000. In keeping with the fifteenth anniversary theme, only fifteen €100,000 Philharmonics were produced. The coin was unveiled in front of the Wiener Riesenrad Ferris wheel in Vienna. One of the coins is displayed in the foyer of the Munich headquarters of precious metals company pro aurum.
20-ounce gold coin
For the 20th anniversary of the Vienna Philharmonic coin, the Austrian Mint created a new size of the coin. This coin has a face value of €2,000 and a fine weight of 20 troy ounces or 622 grams. The diameter is 74 mm with a thickness of 8.3 mm. At the time of issue in October 2009, the material value was around €14,000. Due to the limited minting, the coin was sold at a premium of approximately 10% above gold price. The total circulation of these coins was 6,027 (providing 2,009 coins in each of the European, American, and Japanese markets), which were sold in velvet-lined wooden cases with certificates.
1/25 ounce gold coin
For the 25th anniversary of the Vienna Philharmonic gold coin series in 2014, the mint went in a different direction, creating the diminutive 1/25 ounce version of the coin, featuring the same design, but with a face value of €4.00. Also in celebration of the 25th anniversary, 5,000 proof sets of the 1 ounce and 1/4 ounce coins (the two original sizes) were produced. Production of the 1/25th ounce coin continued in 2015.