Saturday, July 4, 2009

Quick, Silver Bullion

Quick, silver bullion available, is the word out to German investors over the border from Austria. In this case it is an Austrian pure silver coin which can still be taken across the border legally.

The coin is known to numismatics as the "Silver Philharmonic,". It is made of .999 fine silver and shows an organ and the country of origin, being the Republic of Austria on one side and the other is the well known "Vienna Philharmonic Silver" with a few musical instruments from the orchestra.

The coin was originally issued in 2008 and intended for investment rather than collection and marketing spokesman of the Austrian Mint, Bernhard Urban, describes it as being "unique" in Europe. The face value of the coin is just €1.50 Euros, but with the value of silver being around €11 Euros (around 15 dollars US) to somewhere over €14 Euros (about $20 US), no one is going to spend it to buy a beer.

Anyone traveling from Austria to Germany is allowed to bring €10,000 ($15), into Germany without having to declare it at customs. This means that a few Germans have discovered a way of importing "Silver Philharmonics" in 6000 lots, regularly quite legally, even though the silver content is much more. The difference between the face value and the silver content being as much as €110,000 ($156,000) depending on the price of silver.

This is so popular that it's a four-week wait currently for the silver coin at the Oberbank in Salzburg and the Austrian Mint can hardly keep up. In February 2008, the mint anticipated sales of three or at most, five million coins; by the end of the year, however, almost eight million were in circulation. And already in 2009, nearly five million pieces have been bought or ordered.

Seems that somebody is expecting the price of silver to go up and is laying in a store for when that time comes. The motto seems to be, "quick, silver bullion is on the rise, buy now!"

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