One of the worlds premier bullion coins, the Austrian Mint’s Wiener Philharmoniker (Vienna Philharmonic) has been a huge seller for many years. Generally, only the Canadian Maple Leaf and American Eagle bullion coins are bigger sellers, but still the Philharmonic has had sales of its silver bullion coin approaching 18 million units in a year (2011). The gold has likewise been a big mover in the market since its introduction back in 1989, the silver coming along much later in 2008. Now, to add to those most traditional of bullion metals, the mint has launched the last of the precious metal triumvirate, Platinum, easily the rarest metal of the three for bullion coins.

Available from yesterday, the Platinum Philharmonic is struck in 0.9995 pure metal and as far as design goes, does not differ from the others except for the small inscription ‘PLATIN’ on the reverse to denote the composition, and the usual denomination and composition inscriptions on the obverse. Even the coins diameter remains constant at 37.0mm despite the differing densities of the metal. Thomas Pesendorfer’s design has remained unchanged for decades, and this coin has done nothing to change that fortunately. Depicting the famous organ of the Musikverein concert hall in Vienna where the Vienna Philharmonic orchestra is based, on the obverse and an assortment of musical instruments on the reverse, it’s a classic design quite unlike any of the contemporary competition.

How successful this coin will be is up for debate. Other big mints have had platinum bullion coins in their repertoire, the US, Canadian and Perth mints immediately spring to mind, none with what you could call volume acceptance. The problem with platinum as a bullion coin metal is simple; tax. At the time of writing, gold is selling for around €1170 per ounce, with platinum at under €830. The sales price at the Austrian Mint for a 1oz gold Philharmonic is €1198, a premium of €28 (2.3%). The same coin in platinum is €1090. That difference is tax and adds up to 24% premium overall, clearly not a sensible financial buy unless you’re lucky enough to live somewhere the tax on platinum is tiny or non-existant. In that case a purchase may make more sense as platinum has spent a lot of time in the last decade more expensive per ounce than gold, and is now very cheap in comparison. The gambler may want to bet that situation may reoccur. If they do, the new Philharmonic would be a good place to start.

PRESS RELEASE

Berlin, February 8, 2016 – The Austrian Mint has today issued a new platinum Vienna Philharmonic bullion coin as the latest addition to its internationally renowned coin range. Unveiled at the Berlin Coin Fair, the coin marks the Austrian Mint’s first platinum offering in its 800 year history.

Produced from 999.5 pure platinum, the new Vienna Philharmonic coin features the same award-winning design by Austrian Mint head designer Thomas Pesendorfer as its gold and silver counterparts. The coin, which is named for the world-famous orchestra, depicts the organ of the Musikverein concert hall in Vienna, the orchestra’s home, on one side and an assortment of musical instruments on the other.

“Collectors and investors have long prized our coins, which represent centuries of craftsmanship and tradition,” said Gerhard Starsich, CEO and Chairman of the
Executive Board of the Austrian Mint. “Expanding into platinum is a natural step for us, and we are especially proud that our inaugural platinum coin features the world-renowned Vienna Philharmonic design.”

One of the most successful bullion coin ranges worldwide, the Vienna Philharmonic counts among the favourites with investors in Europe, Japan and North America.

The new platinum coin will initially be available in 1 ounce denominations, and will be sold throughout Europe and in overseas markets including Japan and the U.S.

The coin will be sold through 8th of February worldwide.

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