Last Updated on November 14, 2023 by Ben
Austrian Silver Vienna Philharmonic
The Austrian Silver Vienna Philharmonic has been a favorite of silver bullion investors since its release in 1989. The Austrian Mint is one of the oldest mints to have issued gold and silver coins, dating back to the 8th century. Austrian Silver Vienna Philharmonic coins are struck with .999 pure silver at an Austrian Mint facility in Vienna. This coin was also the first coin ever struck that carries a euro-denominated face value.
Silver Vienna Philharmonic Coins
The Austrian Silver Vienna Philharmonic is a stunningly beautiful coin with an intricate design and .999 pure silver content. It was the first European bullion to feature euro-denominated face value, making it easier for Europeans to invest in precious metals without converting their euros into other currencies. Guaranteed by Austria’s prestigious Mint of Vienna, this historical mint guarantees purity and quality – as well as beauty!
The Vienna mint, known for its consistency of silver quality and production history, has been well-known worldwide. The ease of buying and selling these coins has increased due to their high popularity in Europe, North America, and Japan.
Austrian Silver Vienna Philharmonic History and Background
The illustrious history of silver coin minting in Vienna stretches back to the 12th century. When Duke Leopold V captured King Richard the Lionheart on his return from crusades, he won an opportunity to release him by paying a bounty which is historically reputed to be 15 tons of silver coins. The Austrian mint was officially mentioned in historical records within 200 years after this event had taken place.
The Austrian mint introduced these coins in 2008 with an assigned face value of 1.50 euros to commemorate the country’s rich history and traditions, making them some of the newest additions to the silver bullion world as well as among its most popular today.
The minted numbers differ every year as the Austrian Mint gauges how many coins are needed. The Austrian Silver Vienna is popular for its consistent design. The first five years of this coin’s release saw it selling a combined 1,800 tons of silver bullion around the globe.
The coin is modeled after the well-known and admired Vienna Philharmonic Orchestra. The institution began in 1842, which makes it one of the oldest orchestras on earth today! Out of all applicants, only a few are accepted into this selective orchestra following a three-year probation period where they have proven their worth as opera performers for that organization’s productions.
Austrian Silver Vienna Philharmonic Physical Characteristics
The Austrian mint guarantees all of their Silver Vienna Philharmonics for purity, weight, and content. They sell these coins directly every year in monster boxes containing 500 pieces per box or 25 tubes with 20 coins for each roll. These beautiful uncirculated coins are struck from gold-plated blanks and have a brilliant finish that will outlast the generations to come.
The Silver Vienna Philharmonic is based on a popular gold bullion coin in Europe. They are related to each other. That means that the silver one looks like the gold one.
The obverse features an image of the Great Pipe Organ that resides in Vienna’s Golden Hall. The famous instrument is home to the Philharmonic Orchestra, and its face value (1.50 euros) also appears on this coin 1-ounce silver piece.
The reverse side of the coin showcases several instruments that are played by the orchestra. In addition to these, it includes an oboe and French horn. The top portion has German text on it, which indicates that this is a Vienna Philharmonic Silver Coin.
Silver Vienna Philharmonic coins are only available in one denomination: one ounce. The specifications for these silver coins include:
- Mass: 31.103 grams
- Thickness: 3.2 mm
- Diameter: 37 mm
- Silver Content: 1-ounce pure silver
Advantages & Disadvantages Vienna Philharmonic Silver Coins
- This is one of the most recognizable coins in the world.
- The demand for silver is strong due to its status as both a precious and industrial metal.
- Considering the large price fluctuations with silver, making a purchase that is carefully considered is important.
- The Vienna Philharmonic Silver coin is distinguished by its high silver fineness of .999.
- Austrian Silver Vienna Philharmonic coins can get scratched easily, so it’s best to leave them in their protective case.
Vienna Philharmonic Silver Coin Tips
If you are looking in the market for a new silver coin, always make sure to buy VAT free. The next best tip is that it’s important not to wait too long before buying when prices are low because they could rise quickly and leave you with less money than if you had bought earlier.
You should learn about the price of silver in recent months, years, and decades. Only then will you know if it is a good investment or not.
People who buy the Vienna Philharmonic are advised to research prices with various precious metal dealers before making a purchase. In addition, you can save some money by buying larger quantities since premiums usually decrease when this happens.
Austrian Silver Vienna Philharmonic Pricing
Silver Vienna Philharmonic coins have 1.50 euros on each coin and are silver bullion issues. This means that a person in Austria or any country that uses the euro could buy one and a half euros worth of money. No one would choose to sell these Silver Vienna Philharmonics for the face value. They’re worth way more than that.
The amount investors are prepared to pay for coins does not have anything to do with the size of the coins. The only thing important is how much silver is worth at a specific time.
Silver prices change daily. The Silver Vienna Philharmonic is a popular coin because it carries a euro on its face value even though the silver price changes.
Investing in Austrian Silver Vienna Philharmonic Coins Through an IRA
Since these Silver Vienna Philharmonic coins appeal to both Austrians and international customers alike, IRA is easy to add these coins to your precious metals. Your IRA administrator will buy them for you. This means you can get special investment opportunities that will not go up and down when the bond market and stock market do. Many investors are buying silver bullion as a cost-effective alternative to gold.
The Internal Revenue Service lets you establish a precious metal IRA that consists of silver, gold, palladium, and platinum. These coins must be approved by the IRS in order for them to be eligible for inclusion. The Austrian Silver Vienna Philharmonic is one type of coin approved by the IRS. People need to spend at least $5,000 on the silver to fund this kind of IRA. You can make more purchases for an additional $1,000 minimum.
Adding a precious metal to an IRA can be risky because the coins must have a certain purity level. The Austrian mint makes sure that every Silver Vienna Philharmonic coin meets IRS requirements. The IRS also has rules about such IRA precious metals being stored in approved depositories. Such vaults keep your money safe, so you don’t have to worry about it.
If you have an existing IRA that has been packaged with precious metals, you can convert it into a self-directed one. Your investments will be handled by your administrator once you give the order to transfer them from one account to another.
If you’re interested in investing, the Austrian Silver Vienna Philharmonic is a great place to start. The world-renowned coin regularly ranks as one of the most popular silver coins alongside US Silver Eagles, Canadian Silver Maple Leafs, British Silver Britannias, and Chinese Gold Pandas. As an investment-grade silver coin with a reputation for being both beautiful and affordable, it’s no surprise that this particular philharmonic makes in the list of best investments.