Austrian Mint
Also: Münze Österreich, Vienna Mint, Münze Wien
Münze Österreich AG (the Austrian Mint) is the state coin mint of Austria, based in Vienna and issuer of the world-famous Vienna Philharmonic.
Münze Österreich AG (the Austrian Mint) is one of the oldest and most renowned coin mints in the world. Its roots reach back to the year 1194, when Duke Leopold V of Austria had a mint erected in Vienna with the ransom paid for King Richard the Lionheart. Today the Austrian Mint is a public limited company wholly owned by the Austrian National Bank and strikes both state circulation coins and internationally recognised investment coins.
Tasks and product range
The Austrian Mint fulfils two central tasks: it is the statutory producer of Austria's euro circulation coins and at the same time one of the most significant issuers of precious-metal bullion coins worldwide. The product portfolio comprises:
- Bullion coins (investment coins): the Vienna Philharmonic in gold (since 1989), silver (since 2008) and platinum (since 2016)
- Collector coins: high-quality special striking series on art, culture and history
- Circulation coins: Austrian euro-cent and euro coins for daily use
- Medals and decorations: state honours as well as commissioned medals
The Vienna Philharmonic
The flagship of the Austrian Mint is the Vienna Philharmonic, available in gold since 1989, in silver since 2008 and in platinum since 2016. It is among the most-bought bullion coins in the world and is the only means of payment with a euro denomination among the leading international investment coins.
| Property | Gold Philharmonic | Silver Philharmonic |
|---|---|---|
| Fineness | 999.9 ‰ (24 carat) | 999 ‰ |
| Main size | 1 ounce (31.1035 g) | 1 ounce (31.1035 g) |
| Denomination | 100 euros | 1.50 euros |
| Diameter (1 oz) | 37.0 mm | 37.0 mm |
| Mint | Vienna (mint mark: none / implicit) | Vienna |
Besides the 1 ounce variant, gold Philharmonics are also issued in 1/2 oz, 1/4 oz, 1/10 oz and 1/25 oz. The current gold price largely determines the market price of these coins, supplemented by a customary premium (agio).
Quality and certification
The Austrian Mint is listed as a refiner 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 corresponds to the standard of fine gold. Every coin is struck with face value, fineness, weight and motif designation – a counterfeit security that is verifiable via the precise coin weight and the exact diameter. Density measurement, the ping test and specialised testing devices are suitable for authenticity checking (see authenticity check).
Tax treatment
Gold Philharmonics meet the requirements for investment gold in Malta under the EU VAT Directive 2006/112/EC and are therefore VAT-exempt on purchase. Malta levies no capital gains tax on private disposals of movable assets such as precious-metal coins; the Maltese capital gains regime applies only to specific assets (immovable property, securities and business interests), so a later profit from the private sale of a gold Philharmonic is generally not taxed.
Silver Philharmonics, by contrast, are not investment-gold products and are subject in Malta to the standard VAT rate of 18%. Dealers who resell silver coins from private purchase can apply the margin scheme, so that VAT falls only on the margin.
Note: this is not tax or investment advice – please consult a tax adviser in individual cases.
In brief
The Austrian Mint stands for over 800 years of coinage history and, with the Vienna Philharmonic, offers one of the world's most liquid and highest-fineness investment coins. Anyone who wishes to buy gold or buy silver will find in Philharmonic coins a transparent, state-guaranteed and easily tradable precious-metal product.