A Warm Applause for the Philharmonic

In 2002, the Austrian Mint struck a new version of their popular Philharmonic coin, setting a new trend in numismatic circles.

Struck from pure gold and backed by Austria's central bank, the Philharmonic was first minted in 1989 as a celebration of Austria's musical culture and the vibrant history of the Philharmonic orchestra.

Since then, according to the World Gold Council, it has thrice become the best selling 99.99% gold coin in the world, striking a unique chord with investors and collectors first in 1992 and again in 1995 and 1996.

Given the enduring popularity of the coin, the Austrian mint made the decision to strike another version of the currency, this time struck in one troy oz of 99.99% pure silver. Like its gold counterpart, the silver striking bears detail honoring the Austrian Philharmonic. The obverse side of the coin bears the likeness of the Great Organ from Vienna's Golden Hall (site of the annual New Year's Day concert), along with the currency value and the metal content. The reverse side holds the Philharmonic coin's signature "bouquet" of musical instruments: violin, cello, string bass, bassoon, and Viennese horn. Both the silver and gold coins are identical in design and inscription.

In addition to the introduction of the Philharmonic coin, 2002 also saw the Mint strike these coins as Euro currency for the very first time. Indeed it is the first silver coin to be denominated in euros. All previous strikings had been in shillings.

They were minted at a variety of weights and values, from 1/4 ounce to 1 ounce, with a corresponding array of price values. The varied and affordable selection was designed to appeal equally to collectors and investors.

Sometimes known as Vienna Philharmonics, both the silver and gold versions retain a great deal of worldwide marketability due to the recognizable design, the quality of workmanship, and purity of metal content. They can sit proudly in a coin collection along with American Eagles, Mexican Libertads, Chinese Pandas, Australian Kookaburras, and Canadian Maples.

They especially retain their value on the secondary market, due to the popularity of their design, and quality. Vienna Philharmonics are popular coins both from the primary market, shipped in the original tubes, and in the secondary and collector's market where they are often mounted in display cases.

Precious metals have consistently maintained their value as both collector's items and investment vehicles through the years. The 1 ounce silver philharmonic in particular has made a beautiful and lasting impression on the collector's market, and the enduring value of silver as a precious metal suggests that they will likely be ably appreciated for years to come.

By purchasesilver.co.uk

Thursday, May 05, 2011