The “Vienna Philharmonic” now in Silver
Silver fans the world over have been cheering the rising silver prices over the past few years. Their joy in recent months has been dampened somewhat by the difficulties that dealers have been having in securing adequate supplies of silver bullion coins.
Their excitement then is all the more understandable at the announcement that the Austrian Mint has decided to enhance its “Vienna Philharmonic” bullion coin range with a one ounce pure silver coin. The new Silver Vienna Philharmonic goes on sale worldwide on Friday, 1st February, 2008, and the mint reports that the massive pre-orders for the coin have been a real challenge to its production capacities.
What lies behind this decision by the Austrian Mint?
The Mint Master Dietmar Spranz explains: “A good producer listens to the market. The addition of a silver ounce to our bullion programme was a quite logical step, and it once again demonstrates the Austrian Mint’s competence in precious metals.”
The new coin is one troy ounce (31.103 g.) of .999 fine silver. Its design is almost identical to its golden counterparts. Apart from the inscription “1 Unze Feinsilber” under the representation of the organ in the Golden Hall, the word “Silber” appears on the orchestra side of the coin in small lettering above the cluster of musical instruments. The coin also has a smooth edge.
Traditionally the denomination of a bullion coin is appreciably lower than the value of its metal content. The somewhat unusual face value of 1.50 Euro on the new coin is explained by the fact that both 1 Euro and 2 Euro are reserved for ordinary circulation coinage in Europe.
Dietmar Spranz: “The face value of a bullion coin, however essential, is largely symbolic. Such coins are certainly legal tender in their country of origin, but they are never intended as means of payment. The one ounce silver Vienna Philharmonic is an investment in precious metal.”
Most investment advisors have always recommended the holding of part of one’s investments in precious metals. Such holdings serve as a store of value against inflation and the fluctuation of other investment vehicles like stocks and shares or real estate. Bullion coins have the advantage of being portable, easy to store and of being actively traded 24 hours a day around the world.
Coins carry their official guarantee minted on them. They allow holders the flexibility of buying or selling silver or gold in any quantity they require, large or small.
The “Vienna Philharmonic” gold coins have long gained an international reputation for beauty and reliability. The silver “Vienna Philharmonic” is all set to follow in the footsteps of its successful golden counterparts.