Coin's value endures

PUBLISHED : Sunday, 11 December, 1994, 12:00am
UPDATED : Sunday, 11 December, 1994, 12:00am

A COLLECTOR'S item likely to go down well with Hong Kong investors and coin aficionados is the Austrian mint's Vienna Gold Coin.

According to Paul Berger, general director of the Austrian Mint, the Vienna coin would be particularly attractive to investors because it was legal tender, highly liquid and had the highest face value among bullion coins.

'The Vienna Gold Coin is denominated in Austrian schillings, one of the world's hardest currencies which is also pegged to the relatively stable deutschemark. It is backed by the Austrian National Bank, which has a long-term financial policy that is conservative, steady and safe,' Mr Berger said.

This year, the mint celebrates its 800th anniversary. Since 1991, it had issued two commemorative coin series annually.

One series celebrates 'Austria and her people', while the other, the Millennium series, honours the history of Austria which, in 1996, will be celebrating its 1,000th anniversary.

But it is the first time a bullion gold coin has been issued, carrying the distinction of being the only European gold bullion coin in pure (.9999) gold.

This alone makes it an unusual and valuable Christmas present.

The Vienna Gold Coin - in one ounce, half-ounce, quarter-ounce and one-tenth of an ounce - has face values of 2,000, 1,000, 500 and 200 Austrian schillings respectively.

The coin is dedicated to the world-famous Vienna Philharmonic Orchestra.

The coins can be purchased at any Hang Seng Bank in Hong Kong.

They cost about $3,000 for the largest size, depending on daily gold values.