Last Updated on March 17, 2024 by Ben
The Austrian Philharmonic Silver Coins are a series of Austrian bullion coins that were first struck in 1989. These Austrian silver coins have been the official Austrian bullion coin since 2008, and the design of these coins has remained unchanged. The Austrian Philharmonic Silver Coin is made from 1 troy ounce of .999 fine silver. The face worth of the Austrian Philharmonic Silver Coin is 100 Euros (EUR).
What is an Austrian Silver Philharmonic?
The Austrian Silver Philharmonic is a special coin because it’s the first silver coin worth euros. It has .999 pure silver. The coins are made in Vienna, Austria, by the Austrian Mint. Many may be amicable with the Gold Philharmonic, which is the most popular gold bullion coin in Europe right now. This silver counterpart features the same design, including the Great Pipe Organ that is found in the Golden Hall in Vienna, which is the home of the Philharmonic Orchestra.
The Austrian Silver Philharmonic is 1 ounce of pure silver. The coin’s reverse side has instruments played in this famous orchestra, including a harp, oboe, and French horn.
Part of the world-renowned Philharmonic coin series, Austrian Philharmonic Silver coins are called “Silver Philharmonics.” They are a popular and widely available precious metal from Europe. Philharmonics are the only coins that carry a denomination in Euros. They have high quality and purity, so they are available for investments inside an IRA. Here is all the information you need to know about these excellent coins.
Development, Introduction, and History
Austrian Philharmonic silver bullion coins are one of the most recent additions to the proud history of the Austrian Mint. The world-famous mint first began producing precious metals coinage in 1194 A.D., A long time ago, the Austrian Mint was started. It has been making money for over 800 years! The Austrian Mint was founded during the Holy Crusades. King Richard I of English (“Richard the Lionheart”) was captured and held hostage by Duke Babenburg.
Babenburg was an Austrian king who wanted to change the coins. He got 100,000 silver coins from the monarch and then found a place where to keep them. The Philharmonic coin series is not very old; it started in 1989. Gold coins were made to be backed by the Central Bank of Austria. The success of the gold coins led to the introduction of silver versions of the Philharmonics. These one troy ounce coins have become the most popular silver bullion in Europe.
Unlike Gold Philharmonics, Silver Philharmonics never carried a face value listed in Austrian shillings since Austria switched to euros 6 years before Silver Philharm.
Austrian Silver Philharmonic Characteristics
Coin Design
The coins for the Philharmonic are from Vienna. They are a tribute to the historical role that Vienna has played in the world of classical music. The coins are very similar to the Austrian Philharmonic Gold series, but they are silver. The front (or “obverse”) of Austrian Silver Philharmonics shows the Great Organ of the Golden Hall in Vienna’s Musikverein. This is where the Vienna Philharmonic Orchestra lives. The words “Republic of Austria” and “1-ounce pure silver” are written, along with the transactional value of 1.50 EURO and the year of mintage. The backside of the building has musical instruments that represent the Vienna Philharmonic Orchestra. Along the top, there are words that say “WEINER PHILHARMONIKER.” The instruments in the picture are:
- One cello
- Four violins
- One Vienna horn
- One bassoon
- One harp
Specifications
Silver Philharmonic bullion coins are made of one weight, one troy ounce. They have silver purity in 99.9% (or “pure”), and there is .999 silver purity in all the coins. The euro coins have a weight of 31.103 grams, and they are 37.0 mm in diameter. The thickness is 3.2 mm, and the face value is €1.5, which was selected because €1 and €2 were common denominations in euro coins.
Purity Standards
The Austrian Philharmonic Silver Coin contains the purest form of silver. It is just as good as the Austrian Vienna Philharmonic Gold Coin, which was the best-selling gold coin in 1992, 1995, and 1996.
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Liquidity
The silver coin is easy to buy because it is pure and it has a lot of value. It’s also easy to sell for that same reason. The only other silver bullion coin offered in this denomination is the one with euros on them. A coin is a way to invest your money. It is easy to convert it to cash. This coin is often used in Individual Retirement Accounts (IRAs). It might be popular with coin collectors because of its beautiful design and intricate pattern.
The Vienna Mint is in charge of the minting of this beautiful coin. It has been all throughout for over 800 years. One of the reasons it started was because a silver ransom was paid for King Richard the Lionhearted to be released from prison. The Vienna Mint is a highly reputable place to make coins. They have a great reputation for making the most beautiful coins in the world and using intricate engravings.
Other Features
This coin is named after the Austrian Philharmonic Orchestra. The coin has a picture of a great organ on one side. You can also see other instruments on the back, like violins and drums. This series of silver coins is 37mm in diameter. Each coin has one troy ounce of silver in it. These coins are not legal tender outside Austria, so if you want to use them somewhere else, then you will have to change them into euros first.
Vienna Philharmonic Silver Coins
The Monex Silver Vienna Philharmonic price chart is a list of prices for 100 silver Philharmonics. It lists the asking price per ounce, and it is in troy ounces. The 3-Month Live chart shows the price of silver today. The 6-Month Candlestick, 1-Year Close, 5-Year Close, and 10 Year Close charts show the price of silver that was yesterday.
The Vienna Philharmonic is an Austrian bullion coin. It is called for the Vienna Philharmonic Orchestra, which inspired the design of both sides of the coin. The one-ounce Austrian Gold Coin was introduced in 1989. It’s a coin that has a face value of 2,000 Austrian Schillings. But because there is the Euro now, the coins’ nominal value is 100 Euros.
In 2008, the Mint made a silver coin that is worth 1.50 euros, and it was one of the top-selling coins for bullion in 2013. In 2016, they introduced a platinum coin that is worth 100 euros, and it has a face value of 1 euro.
Bullion coins are typically valued based on their fabrication content and the market price of the metal. The gold Philharmonic is very pure. It has a fineness of 999.9, or sometimes written as 0.9999 (which is 24-carat, also called 99.99%). In most states in Europe, the Gold Philharmonic is exchanged without VAT, while the Silver Philharmonic has a reduced VAT rate because it cannot be. The coins change every year.
They have the same design on the front, but they are made in different numbers. The number of coins will depend on how many people want them that year. The reverse side of this coin has instruments from the Vienna Philharmonic Orchestra. These instruments are the Vienna horn, bassoon, harp, and four violins, and also a cello. The pictures were designed by Thomas Pesendorfer.
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Silver Philharmonic Pricing
The current ask price for this silver Vienna Philharmonic is $31.18. You can find the latest up-to-date prices for silver Philharmonic coins on the page above. To compare prices of other silver coins to a silver Vienna Philharmonics, go to the Monex’ Live Prices page.
Investing in Austrian Philharmonic Bullion Coin Through an IRA
All Austrian Silver Philharmonics are eligible to be put in a self-directed IRA. If you put real, physical silver inside an IRA, then you can add more diversification to your portfolio. This is different from stocks and bonds, which may change in price. Some people want to buy silver, gold, platinum, and palladium. Silver is cheaper than gold. Some people can use this to make their money go further in the future. The IRS says some types of IRAs are for specific metals like silver and gold as well as other types of metal like platinum and palladium.
Sometimes, people can put their money in an IRA account. It can be called a “precious metals IRA” if it only has coins that are the right color, like Austrian Philharmonic Silver Series coins. When opening a precious metals IRA, you must buy $5,000 worth of approved bullion to start. And for each purchase after that, you can only buy at least $1,000 worth.
Additionally, when you make a purchase of Silver Philharmonics, your broker will hold it in an approved depository. The depository is responsible for the safety and maintenance of the bullion. You can open an IRA that has gold or silver in it. You can do this by transferring or rolling over funds from your existing IRA to a PM IRA.
Silver coins from Austria are available for purchase on the official Austrian Mint website. If you buy them, they may have to go through customs, which might mean extra charges. Additionally, collectors and investors can buy from dealers around the world. These are people who collect or invest in valuable metals such as gold, silver, and platinum. They can buy these things from dealers like APMEX.
Summary
The Austrian Silver Philharmonic coin is a highly collectible, guaranteed quality, and purity silver coin that can be bought or sold when needed. This makes it an attractive investment for those looking to start investing in precious metals as well as those who have already established collectors of coins. If you’re just thinking about silver coins today, then consider the value of this Austrian Silver Philharmonic Coin.