The Silver Philharmonic coin is released annyally by the Austrian Mint, or Munze Osterreich. The Austrian MInt is famous for its series of Philharmonic bullion coins, which were first released in gold in the 1980s. These coins are released annually in commemoration of the Austrian Philharmonic Orchestra, and have a legal tender value that is backed by the Austrian Government in Euros.
A History of the Silver Philharmonic
In February 2008 the Austrian Mint began their release of the Silver Philharmonics coins. The Austrian Silver Philharmonics coin were the first European bullion coins released into the precious metals market featuring a silver purity of 99.9%.
The coins were released in response to the increasingly popular demand for gold Philharmonic coins. The Austrian MInt is the only European MInt (other than the Royal Mint in the United Kingdom) to release precious metals coins annually for retail investment.
The first year of their release, a million coins were officially struck in anticipation of strong demand. However, the Austrian MInt had sold over 8 million silver philharmonics by the end of 2008.
The Austrian Mint saw the greatest demand for the silver philharmonic in 2011, when a total of seventeen million eight hundred and seventy three thousand seven hundred (17,873,700) coins were struck.
About the Silver Philharmonic
The original design of the coin was created by Thomas Pesendorfer to be used when the gold commemorative coin was released back in 1989.
The design of the silver Philharmonic coin is similar to that of the gold Philharmonic coin. These coins feature a fantastically struck image of the famous Pipe organ showed inside the Vienna Musikverein Gold Hall on obverse side. The face value of 1.50 Euros is clearly marked along with the year the coin was minted and the words “REPUBLIK OSTERREICH” (translates to Republic of Austria) arched over the Gold Hall itself. Beneath the pipe organ are the words “1 UNZE FEINSILBER” (translates to 1 ounce pure silver)
The reverse side of these coins features musical instruments from the Austrian Philharmonic Orchestra such as the harp, violin, flute, cello, bassoon and the french horn. The words “WIENER PHILHARMONIKER” (translates to Vienna Philharmonic) arched around the instruments and in smaller printer just below that is “SILBER” (which translates to Silver).
Each of the Vienna Philharmonic fine Silver 1 ounce coins has a diameter of 37.0 mm. The alloy is Silver Ag .999. The fine weight of each of these coins is 31.105 grams / 1.00oz. Each coin is 3.2 mm thick.
The Austrian Vienna Philharmonic coin is known amongst coin traders, or colloquially, as a Silver Phil.
Although other countries do produce silver bullion coins, Austria’s 1 Oz Silver Philharmonic coin is the predominant coin available in Europe, and the most popular amongst European investors. The Philharmonic, alongside the silver Canadian Maple Leaf and the silver American Eagle are also very popular. In 2018 the Rand Refinery in South Africa released a silver Krugerrand designed to compete in price and quality with the silver Philharmonic and the silver Maple Leaf.
Silver bullion coins are generally made from investment grade silver bullion, which means that they have a minimum purity of 999. All silver coins are government backed, and have some legal tender value. Coins that are not backed by a goverment are called 'rounds' instead.
The Silver Philharmonic one ounce coins are generally purchased in “monster boxes”, which contain 500 coins. There are 25 tubes, each containing 20 coins each. The coins are priced based on a premium above the market spot silver price. Most investors tend to keep silver coins as part of a long-term investment portfolio.
These coins are one of the most popular in the world, with millions of them being sold and shipped each year. The Austrian Mint is owned solely by the Austrian Central Bank. With a history of over 800 years it’s no surprise that the craftsmanship and their state of the art capabilities make the Austrian Mint one of the most highly regarded Silver bullion and Silver bullion coin manufacturers in the world.
SwissBullion.ch sell silver philharmonic coins for VAT-exempt storage located in Zurich, Switzerland, or for delivery. Clients who select to store their purchase may select at any time to sell the items back, or to request delivery. For further information, please do not hesitate to contact us.