/biz/ - Business & Finance

>>1834373
Because everything the Austrian mint issues has to be Austrian legal tender.

Since they can never sell anything below nominal value (it would be a guaranteed loss and literally free money for the buyers), they have to take care that the metal value is always bigger than the nominal value. So they put comparatively small nominal values on coins to ensure they can still sell them even if the metal tanks. The nominal value is only meant as a absolute bottom safeguard against complete devaluation. If tomorrow everyone decided that gold is worthless, the government would still have to take back the coins for their nominal value, so they try to keep it low.

Since the 1 ounce Philarmonic is issued at 100 EUR (picture related; used to be 2000 ATS before the introduction of the Euro), it makes sense to issue the 20 ounce Philharmonic at 2,000 EUR.