Austria’s proud classical musical heritage is highlighted in the Austrian Philharmonic silver coin, one of the world’s most popular bullion coins.
Known for their purity and beautiful design, the Austrian Silver Philharmonic coin is one of the world’s most popular bullion coins. Here, we will answer some questions commonly asked by silver bullion investors and collectors.
What is an Austrian Silver Philharmonic?
This coin, also known as the Austrian Silver Vienna Philharmonic - or a silver “Phil” within the coin trade - is a silver bullion coin that has been minted since 2008. Its design can be traced back to Thomas Pesendorfer in 1989, when the design was used for the commemorative gold Vienna Philharmonic.
The silver Phil’s design contains the following details:
- The obverse features an iconic pipe organ from within the Musikverein, the site of the world-famous Vienna Philharmonic Orchestra. Two sections of text are inscribed on the coin reading “Republic Österreich” (Republic of Austria) and “1 Unze Feinsilber” (One Ounce Pure Silver) in all capital letters.
- The reverse features a bassoon, cello, flute, French horn, harp and violin. Much like the obverse, the reverse features two sections of text, reading “Wiener Philharmoniker” (Vienna Philharmonic) and “Silber” (Silver) in all capital letters.
What are the dimensions of the Austrian Silver Philharmonic?
Because these coins also serve as silver bullion, each weighs exactly one troy ounce, or 31.103 grams of silver. They are 37 millimeters (mm) in diameter and 3.2 mm thick.
What is the difference between Austrian Silver Philharmonics and Canadian Silver Maples?
To the eye, there is little difference between these two coins beyond the artwork on their obverse and reverse sides. Both are silver coins that are exceedingly popular with numismatists. However, the Austrian Silver Philharmonics contain 0.999 pure silver, while Canadian Silver Maples contain 0.9999 pure silver. The Philharmonic coins are minted in Austria, whereas the Silver Maples are printed in Canada.
How many Austrian Silver Philharmonics are minted each year?
While the Austrian Mint does not publish exact minting numbers, secondhand accounts pin 2011 as the year this coin was minted the most. At a mint run of more than 17 million coins, 2011 exceeded the initial 2008 run of Austrian Silver Philharmonics by more 10 million coins. The Austrian Mint has minted over 54 million silver Phils since the first release.
How much is an Austrian Silver Philharmonic worth?
As a silver bullion coin, every Austrian Silver Philharmonic is worth the same as 1 ounce of silver. Click here to see the current spot price of silver.
Can Austrian Silver Philharmonics be used as legal tender?
While each of these coins has a face value of 1.5 Euros, it can only be used as such when purchasing goods and services within the country of Austria.
Are Austrian Silver Philharmonics taxable?
Because Silver Phils are silver bullion, even in the form of a coin, the IRS sees them as “collectible” and subject to capital gains tax. This means that Silver Phils incur short term capital gains if sold in less than a year after acquisition, or long term capital gains if sold after more than a year since acquisition. If they are sold for a profit, the profit may be taxed by 28%.
Gold dealers are not required to report the sale of Silver Phils unless the total transaction exceeds a value of $9,999.99 and the buyer purchases the coins with cash, check or a money order. Selling Silver Phils overseas requires sellers to abide by whatever laws that country requires.
Are Austrian Silver Philharmonics a good investment?
Anyone interested in buying or selling silver coins should consider adding Austrian Silver Philharmonics to their coin collection. This is especially good advice for people who live in areas where the American Silver Eagle and/or the Canadian Silver Maple Leaf are quite common, leaving those with Austrian Silver Philharmonics room to bargain and turn a profit from the relative scarcity.
Where are Austrian Silver Philharmonics minted?
As fits their name, these coins are only minted by the Austrian Mint within Vienna - the capital city of Austria.
Where can I buy or sell Austrian Silver Philharmonics in the United States?
The United States has plenty of vendors and dealers for Silver Phils, notably right here at Provident Metals! Are you looking to sell your coins? Provident offers the best buy-back prices in the industry!
Are you interested in adding an Austrian Silver Philharmonic to your coin portfolio? Provident Metals has a great selection. Browse our online inventory to see more or check out our Knowledge Center to learn more about this wonderful coin.