Gold bullion coins are among the most preferred forms of physical gold. Among the many advantages cited by investors and collectors are: the IRA approved status, the numismatic value, the plethora of designs and sizes available, a ready market, and ease of storage. Whether you want to invest or add to your collection, bullion gold coins will give you the best of both worlds.
Coins’ gold content means its value is backed by the intrinsic value of gold, whereas its demand and rarity add to the numismatic value. If you are thinking about buying bullion coins, the Austrian Philharmonic brings the best of Europe to your investment or collection.
Background
The Austrian Philharmonic, also known as the Vienna Philharmonic, or more simply as the ‘Phil,’ is a high-purity piece of bullion. Minted at a fineness of .9999, this 24-karat coin is purer than American Eagle coins and comparable in purity with the Canadian Maple Leaf. As with the Maple Leaf, the Phil is susceptible to damage from rough handling.
First minted in 1989 as a tribute to the world-renowned Vienna Philharmonic Orchestra, this gold bullion coin has remained popular for nearly 25-years and has been one of the world’s best-selling gold coins for a number of years (1992, 1995, and 1996). In the US, the coins are approved for IRA investment.
Design and Size
Made at the Austrian Mint in Vienna this legal-tender coin carries the images of an assortment of orchestral instruments on its reverse, including a bass, cello, violins as well as horns and harps. On the obverse of the coin is the ‘Great Organ’ played in Vienna’s Golden Hall, the home of the Vienna Philharmonic. The images are engraved with high attention to detail, resulting in eye-catching depictions that bring out the boldness of the gold.
The Obverse of the Austrian Gold Philharmonic
The Reverse of the Austrian Gold Philharmonic
The Vienna Phil is made of 24-karat gold and is available in four sizes:
- 1oz – denominated 100 euros
- 1/2 oz – denominated 50 euros
- 1/4 oz – denominated 25 euros
- 1/10 oz – denominated 10 euros
Prior to 2002, the 1oz coin was denominated 2,000 schilling.
The coins have higher over spot prices, compared to other gold bullion coins from around the world. Most buyers however find the high price acceptable, given the quality and worldwide appeal of the Austrian Philharmonic coin.
Philharmonic Facts
The Austrian Mint began issuing a Silver Phil in February of 2008, with a legal value of 1.5 euros. We wouldn’t advise you to buy a coffee with one, as the silver content alone in a Silver Phil is worth at least 20 euro!
In 2004 ‘Big Phil,’ a 1,000 troy oz. sized Vienna Philharmonic gold coin was minted to commemorate the 15th anniversary of the coin, which to this day remains the European Union’s only gold bullion coin. Fifteen of these massive pieces of .9999 fine gold bullion were minted, each one weighing over 68 pounds and valued at more than 100,000 euro.
Did you know that the Phil is the only gold bullion coin (so far) to have appeared on the side of an airplane? Austrian Airlines had a picture of the coin painted on their Airbus A340 commercial airliner to promote their nation’s gold currency.
Vienna Philharmonic coins enjoy a high liquidity due to their high purity and recognition from gold dealers throughout the world. While you’ll still pay slightly more over spot for bullion coins, Phils are a good place to start for bullion aficionados on a budget.