Gold Vienna Philharmonic (Austria)

Gold Vienna Philharmonic (Austria)

The Vienna Philharmonic, often simply called the ‘Philharmonic’, is an Austrian gold coin. Since February 2008, it has also been produced in silver. It is technically legal tender with a corresponding nominal value.

The Gold Philharmonic has a purity of 99.99% (pure 24-karat gold). Its value is based primarily on the current Spot price of gold, analogous to the Silver Philharmonic at the price of silver. The actual value of the gold coin is about 1,000 to 10,000 times higher than its face value.

The coin’s motif remains the same each year, with only the year of issue changing. The coin depicts on one face the instruments of the famous Viennese Orchestra, including the horn, bassoon, harp, four violins and one middle cello. On the obverse is the New Year Concert Organ, situated in Vienna’s Golden Hall of Music. The coin is designed by chief engraver Thomas Pesendorfer and was first offered commercially in October 1989. Initially, it existed in only two sizes, before a further two sizes were added. In 1990, the coin was the most frequently sold in Europe, and second in the world market. In 1992, 1995, 1996 and 2000 the World Gold Council recognized it as the "best-selling coin in the world".

Since the beginning of its coinage in October 1989 to 2004, more than 8.2 million Vienna Philharmonic coins have entered circulation. Collectively, these coins have a combined weight of 5.6 million ounces (approximately 174 tonnes) of gold. Since February 1, 2008, a silver version of the coin, with a nominal value of 1.50 € has also been produced. The Vienna Philharmonic is now the only European Bullion coin with face value in €. In 2004, the Vienna Philharmonic was, in Europe alone, 35 to 40% of all revenues.

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