Silver Wiener Philharmoniker: The Story of a Best-Selling Silver Coin
The gold Wiener Philharmoniker is one of the best-known bullion coins in the world – and its silver sister deserves no less of a reputation. The silver Wiener Philharmoniker has long been one of the best-selling silver bullion coins in the world. In this article we look at its history, its design and what has earned it this position.
From gold coin to silver version: 2008
The gold Wiener Philharmoniker has been struck by Münze Österreich (the Austrian Mint) since 1989. The silver version arrived almost two decades later, in 2008, with a face value of EUR 1.50. Although it is younger, it quickly built a strong position of its own among silver investors.
The design: the Golden Hall of the Vienna Musikverein
One side of the coin shows the organ in the Golden Hall of the Vienna Musikverein – the concert hall where the Vienna Philharmonic, after which the coin is named, traditionally plays. The other side shows a group of orchestral instruments: harp, violin, cello, bassoon and the distinctive Vienna horn. The design is the same on the gold and silver versions.
One of the best-selling silver coins in the world
In the first five years after its launch alone (2008–2012), more than 5 million silver Wiener Philharmoniker coins were sold. It remains one of the most popular silver coins in Europe today.
Specifications
The silver Wiener Philharmoniker is struck from 1 troy ounce of silver with a fineness of 999/1000 Ag. While the gold version has a fineness of 999.9/1000 Au, the silver version is 999/1000 Ag – a common standard for investment silver.
Compared with other silver bullion coins
The silver Wiener Philharmoniker competes with other popular silver coins such as the American Eagle, Maple Leaf and Krugerrand – see the comparison in the article Silver coins: American Eagle, Maple Leaf, Krugerrand. When investing in silver pays off and what to watch out for is described in the article Investment silver: when it pays off.
Frequently asked questions
Why does the silver version have a lower fineness than the gold one?
It is standard practice for investment silver across mints – 999/1000 is a common standard for silver bullion coins, while 999.9/1000 is usual for gold.
Is the silver Wiener Philharmoniker exempt from VAT like the gold one?
No. Unlike investment gold, investment silver is not exempt from VAT.
Does the design change every year?
No, the design with the Golden Hall and the musical instruments stays the same every year; only the year of issue changes.
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About the author
Adolf Baumann, analyst at Baumann Group a.s. (GOLDU), has been working with precious metals for over 30 years. He has seen euphoria, crashes and panic on the markets – and he still enjoys it. He explains in plain language what moves the price of gold and silver and how to handle them without unnecessary mistakes. His weakness? He refuses to wear a suit.
