Austrian Mint thinks small withe new Philharmonic
- Published: Dec 12, 2013, 7 PM
To celebrate the 25th anniversary of the Vienna Philharmonic bullion program, the Austrian Mint is thinking small.
A new, 25th-ounce gold coin (weighing 1.24 grams), is joining the successful program, which already includes tenth-, quarter-, half- and 1-ounce sizes in gold, and a 1-ounce silver coin among regular issues. (Giant sizes were issued for special occasions.)
The 25th-ounce gold coin will be sold as bullion with a markup that is standard for the bullion market, said Kirsten Peterson, director of international markets for the Austrian Mint. As is standard practice, the amount of the markup will not be publicly disclosed.
The new coin, now the smallest gold Philharmonic, is denominated 4 euro and measures 13 millimeters in diameter. Like all other gold Philharmonics, the coins will be composed of .9999 fine gold.
The new coin, after its debut in January 2014, is intended to be a regular part of the program going forward.
In addition, the Austrian Mint will issue a two-coin Proof set, the first time Philharmonic coins have been offered in Proof.
The set will feature a quarter-ounce coin and 1-ounce coin. The two coins are the first two sizes issued in the program when it began in 1989. (The other two sizes were added later, and the silver coin launched in 2008.)
The quarter-ounce gold coin is denominated 25 euro, measures 22 millimeters in diameter and weighs 7.78 grams.
The 1-ounce 100 euro coin weighs 31.1 grams and measures 37 millimeters in diameter.
The mintage of the two Proof coins is limited to the pieces in the sets. The sets have a maximum edition of 5,000, each set housed in a wooden case with a certificate of authenticity. Sets will be offered at a fixed price to be determined before the Jan. 15 release.
In 25 years, Austria’s famous Vienna Philharmonic gold coin has been named the world’s bestselling investment coin four times by the World Gold Council.
The design is now classic, and reflects Austria’s rich musical ties, specifically Vienna’s.
The obverse design depicts the pipe organ in the Golden Hall in Vienna’s concert hall, the Musikverein. This is the home of the Vienna Philharmonic Orchestra. The legend REPUBLIK ÖSTERREICH, meaning Republic of Austria, and the denomination, weight, fineness and year of issue also appear on the obverse.
The reverse of each Vienna Philharmonic coin depicts a bassoon, cello, harp, violas, violins and a Viennese horn with the legend WEINER PHILHARMONIKER about the rim.
Austrian Mint Chief Engraver Thomas Pesendorfer created the famous design.
The Austrian Mint, as with other government mints, does not sell bullion coins directly into the marketplace, instead working with distributors to create a tiered system supported by buying and selling.
Collector coins — like the Proof set — are distributed by Downies.
Telephone Downies toll free at 877-897-7696 or order at www.downies.com. ¦
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