Austrian Mint
Also: Vienna Mint, Münze Österreich
Münze Österreich AG is Austria's state mint, based in Vienna and issuer of the world-famous Vienna Philharmonic.
The Austrian Mint (Münze Österreich AG) is one of the oldest and most respected mints in the world. Its roots reach back to 1194, when Duke Leopold V of Austria used the ransom paid for King Richard the Lionheart to establish a mint in Vienna. Today the Austrian Mint is a public limited company wholly owned by the Austrian National Bank, striking both the country's circulating coinage and internationally recognised investment coins.
Duties and product range
The Austrian Mint performs two central roles: it is the statutory producer of Austria's circulating euro coins and, at the same time, one of the world's leading issuers of precious-metal bullion coins. Its product portfolio covers:
- Bullion coins (investment coins): the Vienna Philharmonic in gold (since 1989), silver (since 2008) and platinum (since 2016)
- Collector coins: high-quality special issues on art, culture and history
- Circulating coins: Austrian euro-cent and euro coins for everyday use
- Medals and decorations: state honours as well as commissioned medals
The Vienna Philharmonic
The Austrian Mint's showpiece is the Vienna Philharmonic, available in gold since 1989, in silver since 2008 and in platinum since 2016. It ranks among the most-bought bullion coins in the world and is the only coin among the leading international investment coins carrying a euro face value.
| Property | Gold Philharmonic | Silver Philharmonic |
|---|---|---|
| Fineness | 999.9 ‰ (24 carat) | 999 ‰ |
| Main size | 1 ounce (31.1035 g) | 1 ounce (31.1035 g) |
| Face value | 100 euro | 1.50 euro |
| Diameter (1 oz) | 37.0 mm | 37.0 mm |
| Mint | Vienna (mint mark: none / implicit) | Vienna |
Alongside the 1-ounce version, the gold Philharmonic is issued in 1/2 oz, 1/4 oz, 1/10 oz and 1/25 oz. The current gold price largely sets the market price of these coins, plus a customary premium (agio).
Quality and certification
The Austrian Mint is a refiner listed on the LBMA Good Delivery List — the globally recognised quality register for precious-metal producers. The fineness of 999.9/1000 on the gold Philharmonic matches the standard of fine gold. Every coin is struck with its face value, fineness, weight and design, giving a security against forgery that can be verified through the precise coin weight and the exact diameter. For authenticity testing, density measurement, the ping test and specialised testing devices all suit the task (see authenticity testing).
Tax treatment
Gold Philharmonics meet the conditions for investment gold and so are VAT-exempt on purchase in Ireland (VAT Consolidation Act 2010; EU Directive 2006/112/EC), as they are across the EU. On a later sale, a private individual's gain is liable to Irish Capital Gains Tax at 33%, after the annual personal exemption of EUR 1,270 — there is no holding-period relief in Ireland (in Germany, by contrast, a sale after more than one year is tax-free under section 23 EStG).
Silver Philharmonics are not investment-gold products and carry the standard Irish VAT rate of 23% on purchase. Dealers reselling silver coins acquired from private individuals may apply the margin scheme, so that VAT falls only on the margin. The same 33% CGT position and EUR 1,270 exemption apply to any gain on silver held privately.
Note: this is not tax or investment advice — please consult a qualified tax adviser about your own circumstances.
In brief
The Austrian Mint stands for more than 800 years of coining history and, with the Vienna Philharmonic, offers one of the world's most liquid and highest-fineness investment coins. Anyone looking to buy gold or buy silver will find in the Philharmonic a transparent, state-guaranteed and easily tradeable precious-metal product.