Vienna Philharmonic 1oz Gold Coin 2016
The Austrian Mint is over 825 years in operation and mints a large variety of high-quality gold and silver coins and bars. The most popular is the Vienna Philharmonic series.
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The 2016 Vienna Philharmonic 1oz Gold has arrived! The Vienna Philharmonic gold coin consists of 24 carat gold with a fineness of 999.9/1000 and is therefore made of pure gold. The 2016 Philharmonics have the grading “New, Mint-state” and have not been in circulation before.
Alloy & Sizes
The Vienna Philharmonic 1oz has a fine weight of 31.103 grams, a thickness of 2.00 mm and with a diameter of 37.00 mm. The nominal value of the 1 oz Vienna Philharmonic is 100 Euro. The Vienna Philharmonic 1oz gold coin has a fineness of 999.9/1000 which is a very high purity level. The advantage is that it makes the coin insensitive to corrosion and changes in color. Because gold is a very soft metal the weakness is poor scratch resistance.
History of the Gold Philharmonics
The Vienna Philharmonic 1oz gold coin was first issued in 1989. The name "Wiener Philharmoniker" translates to Vienna Philharmonic. Thomas Pesendorfer, the head of engraving of the Austrian Mint designed the Vienna Philharmonic. The coins appearance has not changed since it was introduced.
The name of coin describes the world famous orchestra the “Vienna Philharmonics” founded in Vienna in 1842. The orchestra consists of members of the Vienna State Orchestra. Since 1941, the annual New Year’s concert is one of the most famous classical concerts in the world.
The first edition of the 1oz Vienna Philharmonic in 1989 consisted of 351,000 units. The second edition in 1990 already guaranteed the Vienna Philharmonic the title "best selling gold coin in Europe 1990". In the next few years it would become even more successful as on several occasions it became the best selling in the world. Available in sizes of 1oz, 1/2oz, 1/4oz, 1/10oz and 1/25oz, the Philharmonic was denominated in Euro in 1999 making it the first Euro-Investment coin.
In 2009 the 1oz Gold Philharmonics had the highest annual sales with 835,700 pieces. Since 2008 the 1oz Philharmonic is also available in silver. Annual sales of the Silver Philharmonics are much higher, reaching double-digit million in some years.
The unchanged appearance of the Philharmonic is one of its advantages. also for the current year 2016. The coin features a rippled edge and an edge bar. The rippled edge is unsual as with every three notches one notch is missing. Both elements ensure safety and design. The edge bar is also mandated to facilitate better stackability of the coins.
The design of the obverse is determined by the presentation of the famous organ of the Vienna Orchestra of the Golden Hall. Also on display is part of the balcony (balustrade) where the organ is. The design of the balcony reaches into the edge bar, which is again a rather rare aspect of a bullion coin. In addition all inscriptions minted on the obverse are as follows.
- REPUBLIK ÖSTERREICH
- 1 UNZE GOLD 999.9
- 100 EURO
The back of the Wiener Philharmoniker 1oz shows typical instruments of classical music. The leading string instrument is a cello, which is shown in the middle. In the background horn, bassoon and harp are depicted. To the left and right from the central Cello violas can be seen next to violins. A total of 8 musical instruments are shown. The name of the gold coin reads "Wiener Philharmoniker".
Buying Tips of the Gold Vienna Philharmonic
The price of the 1oz Vienna Philharmonic 2016 is composed of the current gold price and the premium. As a rule of thumb the 1oz Vienna Philharmonic 2016 has a premium of 4% to 5%.
The current gold price is the biggest price factor for 1oz Gold Philharmonics. We recommend learning about recent gold price developments to determine the right entry point.
What is the Premium of Gold Bullion Coins?
The premium is determined by the Mint and subsequently by the seller. The mint of the 2016 Gold Philharmonic is the Austrian Mint. As a state owned corporation all costs and margin are added to the coin price.
Costs of the mint are: creation of the coin blanks (blanks), creation of punches, expensive embossing equipment, personnel costs, storage costs, delivery costs, security costs and more.
The premium is slightly increased by the bullion company as the handling costs and the margin need to be included.
In Addition What Factors Increase the Premium?
2016 Vienna Philharmonic 1oz gold coins are usually a little more expensive, since they have the grading “New, mint-state, uncirculated". Fractional sizes below 1oz carry a higher premium because production costs rise in relation to the processed gold.
As an example: For the same amount of gold ten 1/10oz Vienna Philharmonic need to be minted as compared to one 1oz Philharmonic. As already mentioned, the sellers profit is included in the final price. As a result, there are price differences between the various precious metal dealers, because each dealer has a different cost structure.
About the Mint
The manufacturer of the 1oz Vienna Philharmonic 2016 is the Austrian Mint. The Mint is also responsible for coining the Austrian Euro. In 1989 the Austrian Mint was converted into a public limited company and named as “Wiener Hauptmünzamt” which translates into “Head Coinage Department of Vienna”. The Austrian Mint has a history of producing coins for over 600 years. Today the Austrian Mint produces a wide range of collectors coins, gold and silver coins. The most coined products are the Euro, the Vienna Philharmonic in gold and silver and the Maria-Theresien Thaler.
Advantages and Disadvantages of the Gold Philharmonic 1oz 2016
The Vienna Philharmonic 1oz gold 2016 is made of 999.9/1000 gold. As with all 24 karat pure gold coins the typical gold coloring is retained and even over years the Philharmonic does not corrode. The coin is produced in such large quantities that the premium is relatively low.
The disadvantage of 24k coins is the poor scratch resistance as compared to 22k coins. Furthermore the 1oz Gold Philharmonic has the lowest premium (4 to 5%) in comparison to the smaller weight editions. The 1/2oz, 1/4oz and 1/10oz coins can carry premiums of up to 15%. The Philharmonic gold coins are recognised with banks and bullion dealers globally. And the biggest advantage of the 1oz Vienna Philharmonic 2016 gold coin is the exemption from VAT.
- Exempt from VAT
- Does not corrode
- Tradable worldwide
- Recognized with banks & Bullion Companies
- Easily bought and sold
- Resistant gold coloring
- poor scratch resistance
What makes the Vienna Philharmonic a gold bullion coin?
In all European countries gold investment coins are exempt from VAT. The following criteria make the Vienna Philharmonic 1oz 2016 a bullion coin.
- The gold coin must have been minted after 1800.
- The gold coin is legal tender in the country of manufacture or has been.
- The gold coins must have a fine gold content of at least 900/1000.
- The gold coin may not exceed the open market value by more than 80%.
- Manufacturer: Austrian Mint
- Country: Austria
- Karat: 24 K
- Gold: 99.99%
- Fineness: 999,9 / 1000
- Alloy: Gold
- Weight: 1oz
- Scratch resistance: poor
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