Austrian Mint issues platinum Philharmonic coin
- Published: Feb 14, 2016, 4 AM
Austria’s musically themed bullion coin series has gone platinum, and that has nothing to do with album sales.
The Austrian Mint on Feb. 8 unveiled the Mint’s first platinum bullion coin, a 1-ounce .9995 fine platinum coin denominated €100. The announcement was made during the World Money Fair in Berlin.
The platinum coin joins a bullion program that began in 1989 with a gold issue and expanded in 2008 to include silver.
The coin marks the Austrian Mint’s first platinum offering in its 800-year history.
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The new Vienna Philharmonic coin features the same award-winning design by Austrian Mint head designer Thomas Pesendorfer as its gold and silver counterparts. The coin, named for the world-famous orchestra, depicts the organ of the Musikverein concert hall in Vienna, the orchestra’s home, on the obverse. An assortment of musical instruments appears on the reverse.
The move to the platinum market follows a robust 2015, when the Austrian Mint sold twice as many Philharmonic gold coins as were sold in 2014, according to Gerhard Starsich, CEO and chairman of the Executive Board of the Austrian Mint.
One of the most successful bullion coin ranges worldwide, the Vienna Philharmonic is popular with investors in Europe, Japan and North America. The Vienna Philharmonic is produced in five different sizes in gold, from 1 ounce to 1/25 ounce, and a 1-ounce silver size. Special larger versions have also been issued to mark program anniversaries.
The new platinum coin will be offered throughout Europe and in other markets, including Japan and the United States, through the Austrian Mint’s established group of distributors. As with most bullion coins, the Austrian Mint does not buy back coins to create a two-way market, instead relying on dealers to supply that function.
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