Silver Melt Values for Proof Sets and Mint Sets

In the past week, the price of silver rose by more than 8% to close at $46.86 per ounce. The continued rapid rise in silver has had the obvious consequence of increasing the melt values for silver coins. The values of US Mint Proof and Uncirculated Coin Sets have also seen a dramatic rise.

For tracking the silver values of individual coins, I recommend With this post, I wanted to provide information on the silver values for modern era proof sets and mint sets. These sets may contain multiple silver coins in addition to base metal coins, so the values can take a bit of calculation.

The table below shows various categories of proof sets and mint sets issued by the US Mint, as well as the 40% silver Eisenhower Dollars issued in the 1970’s. The silver content of the set in troy ounces is shown, followed by the silver value calculated based on $46.86 per ounce, other face value of non silver coins, and a total.

Silver Content and Values for Proof Sets and Mint Sets

Silver oz. Silver value Other FV Total
1950-1964 Proof Sets 0.61487 $28.70 $0.06 $28.76
1959-1964 Mint Sets 1.22974 $57.40 $0.12 $57.52
1965-1967 Special Mint Sets 0.1479 $6.90 $0.41 $7.31
1968-1970 Proof Sets 0.1479 $6.90 $0.41 $7.31
1968-1970 Mint Sets 0.1479 $6.90 $0.83 $7.73
1971-1974 Blue Ikes 0.3161 $14.76 0 $14.76
1971-1974 Brown Ikes 0.3161 $14.76 0 $14.76
1976 3 pc Silver Proof Set 0.5379 $25.11 0 $25.11
1976 3 pc Silver Mint Set 0.5379 $25.11 0 $25.11
1992-1998 Silver Proof Sets 0.61487 $28.70 $0.06 $28.76
1999 Silver Proof Set 1.33823 $62.47 $0.06 $62.53
2000-2003, 2006 Silver Proof Sets 1.33823 $62.47 $1.06 $63.53
2004-2005 Silver Proof Sets 1.33823 $62.47 $1.11 $63.58
2007-2008 Silver Proof Sets 1.33823 $62.47 $5.06 $67.53
2009 Silver Proof Set 1.51907 $70.91 $5.09 $76.00
2010-2011 Silver Proof Sets 1.33823 $62.47 $5.06 $67.53
2004-2008 Silver Quarters Proof Sets 0.9042 $42.21 0 $42.21
2009 Quarters Silver Proof Set 1.08504 $50.65 0 $50.65
2010-2011 Silver Quarters Proof Sets 0.9042 $42.21 0 $42.21

For anyone unfamiliar with some of these products or the silver content, the sets from 1964 and earlier contain 90% silver dimes, quarters, and half dollars. The proof sets contain one of each denomination, while the mint sets contain two (one from Philadelphia and one from Denver). The silver content of each coin is 0.07234 ounces (dime), 0.18084 (quarter), and .36169 (half dollar).

From 1965 to 1970, the half dollar was struck in a composition of 40% silver with silver content of 0.1479 ounces. The special mint sets, proof sets, and mint sets of this era each contained one half dollar, with the remaining coins in base metal compositions.

From 1971 to 1974, the US Mint struck Eisenhower Dollars in a composition of 40% silver for direct sale to collectors. These coins have silver content of 0.3161 ounces.

In 1976, proof and uncirculated 3 piece sets were produced which contained the Bicentennial design quarter, half dollar, and dollar coins struck in 40% silver. The silver content for each coin was 0.0739 ounces (quarter), 0.1479 (half dollar), and 0.3161 (dollar).

Starting in 1992, the US Mint produced Silver Proof Sets with the dime, quarter, and half dollar struck in 90% silver. The silver content matches the pre-1965 coins. For the 1999-2008 50 State Quarters Program, each set included 5 quarters, and for the 2009 DC & US Territories Program each set included 6 quarters. Separate sets including just the 90% silver quarters have been available from 2004 to present.

Currently, the US Mint has suspended sales of the 2010 and 2011 Silver Proof Set and Silver Quarters Proof Sets. Sales were halted when the silver melt values for each set began to approach the issue prices.

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  1. Anonymous says

    Great post, especially for the new novices. This is how they learn. Thanks, Micheal……….

  2. Anonymous says

    Absolutely agree with the first poster. Very informative. I am stuffed to the gills with 2009 quarter sets that I am more than doubling my money on.

    The only problem is storage given their bulk. I don't keep these in the vault because of the weight and space so I have stem stashed in the house!

    I've been accumulating silver below spot for months and months through these quarter proof sets. There are many unsuspecting folks on eBay who don't know.

  3. Anonymous says

    Thanks Micheal, great post, it helps alot of us new collectors, without your blog, i be lost, like a kid looking for her mom, hahahah

  4. Anonymous says

    Indeed Michael, todau's post is worth printing out to act as a quickie reference for those new folks who have been enjoying their hobby and have accumulated a large group of these items. Now they can do an instant calculation to get a handle on how their hobby has increased in value. Thank you, nice. ~ Grandpa

  5. Anonymous says

    So Michael, do I cash them all in, and complete my 7070, or do I just let it ride?

    ….and thanks again for keeping us in the know…

  6. Anonymous says

    Thanks again Michael,your post are alway so informative, so many of us newbees would be lost without all the info we get on your site

  7. Anonymous says

    Wow, 2000 silver proofs sets still selling for below melt. Catching up, but best deals for numismatic silver I know of. Gettum while you can.

    Great blog Michael! Got the 2000 silver proof tip on this blog and bought a ton at under $40 for a full set with current melt value well over $60. Thanks again!

  8. Anonymous says

    I think the 2009 quarters are the ugliest of the state quarters and the 2010 quarters are the nicest looking. I wonder if that will ever mean anything?

    It is pretty sad that we are so focused on melt value as opposed to design and eye appeal.

  9. Anonymous says

    "Got the 2000 silver proof tip on this blog and bought a ton at under $40 for a full set with current melt value well over $60."

    Yes that would seem to be a good value no doubt about it price-wise. Seems that you intend to cast them off to a melter which is your right. In the opposite vein, I shudder to think what quantities of silver proof sets and other silver based sets and coins will still be around for collectors to enjoy no matter what their original mintages once were. Sigh…..

  10. Anonymous says

    For the last few months I have been selling my pre-1964 proof sets and using the 2010-2011 ATB Silver Proof sets as a bullion investment. The ATB silver sets have been readily available on E-bay either broken out of Proof sets (no packaging) or as the 5 coin ATB Silver Proof sets (packaging and COA).

    These Silver ATB Proof Quarters are a great way to hold Silver because they are attractive, all silver, certified by the US Mint (easily accepted in lenses) and don’t carry the same high premium as American Silver Eagles. It also helps that the Mint keeps raising its own prices for the sets.

    Up until recently I have been able to purchasing ATB silver sets under spot on E-bay. Add in the 2% E-Bucks rebates, my 3% Mr. Rebates rebate and my American Express 2% cash back rebates and I have been able to accumulate a nice little bid of Silver at a pretty attractive price point.

    But I think people are catching on to this trade, this month the number of sets available on E-bay has increased and the sets have recently been trading above spot. Sellers are profit taking but I think they are a bit premature. It would be better to hold your sets until the new Mint pricing is announced. That should help strengthen the market for the sets. Who knows, I might even sell some.

  11. Anonymous says

    The 2000 silver proof set play seems to be over.
    Like most other tips on this blog, they are time sensitive. Proves that common sense usually wins. The 1999 silver sets had large premiums not based on reality of mintages. It was pure perception. The 2000 silver sets had only 20% more mintage and were treated like dogs.
    Maybe in 10 years the clad sets will command high premiums?? I believe Michael was favoring the '09 clad set (over the silver) for the low pricing and copper pennies. You really never know for sure!

  12. Anonymous says

    How do you earn American Express 2% cash back rebates on eBay? I have the eBay buck and Mr. Rebates which I use too to accumulate bullion.

    I loved Bing cashback! They don't do that anymore. I bought all my bullion that way.

    So how do you get American Express 2% cash back rebates?

  13. Anonymous says

    My Jack Hunt coins arrived yesterday. The Hot Springs coin was raw, while the other four were slabbed PCGS First Strike. Yellowstone was MS68DMPL, while Yosemite, Grand Canyon and Mt. Hood were Gem BU.

    Too bad about Hot Springs, but oh well. No rhyme or reason to it.

  14. Anonymous says

    Does anyone know how much it cost to have PCGS or NGC to certify/slab all five America the Beautiful 5 ounce bullion coins?

  15. Anonymous says

    I have never sold any of my coins before, but with the rising price of silver, I may sell some old sets. Does anyone know the best way to do it and what are the tax implications (ie. bought for $1000 total and will sell for $2000).

    Thanks for anyones help with this.

  16. Anonymous says

    I $ee $ilver going up and up and up. Hee hee hee. I am going to be a greedy millionaire. I will buy and buy and buy until I get rich.

  17. Anonymous says

    I think the rest of the world has given up on the greenback. This silver move has legs and I don't think the $50 mark is going to slow it down. This train has alot of steam pulling it. ALL ABOARD!

  18. Anonymous says

    "Does anyone know the best way to do it and what are the tax implications"

    I would do what the treasury secretary (head of the IRS) Timmy Geitner did. Don't pay any taxes unless the IRS tells you that you should have paid them. Just sell for cash at your local coin dealer or the next coin show. They don't ask for your SS# and don't report it.

  19. Anonymous says

    Agreed. I walk into my local shop and he cuts me a check. Nice and easy, no reporting. I sold him $1800 worth of junk silver at $34. Sigh…hindsight is 20/20.

    When I get my CNT 5oz bullion set I'll take the junk silver from that purchase and sell it to him too.

  20. Anonymous says

    Are there any gold or silver bullion coins, other than the ATB 5 ounce coins, that command a significant premium over the bullion value?

  21. Anonymous says

    Well, try the 2008 gold buffaloes or the 2008 gold UHR. All now have significant premiums over bullion last time I checked.

  22. Anonymous says

    Make 5 silver eagles or make 1 5oz,5 times the sales to meet demand at 1/5 the labor cost. A min mintage of these 5 oz coins could very well be a mintage of millions of each 5 oz coin. I have been buying coins from the mint for over 40 years,and i have never heard them state the words min. mintage. Makes me wonder just what they are up now

  23. Anonymous says

    Have any CLAD proof sets appreciated in value since issue price, or are we all just unwise to ever buy them directly from the mint?

  24. Anonymous says

    Informative post. However, when silver eventually falls (and it will fall at some point), these sets will be the first to plummet. Congrats to all who purchased at or below issue price.

  25. Anonymous says

    Where's pop pop boy when you need him.

    Is this the ceiling or just the beginning?!

  26. Anonymous says

    "(and it will fall at some point)"

    Some analysts say that due to shortage, new industrial uses, and demand by the newly affluent in China and India, silver will settle at a new level near $100. We'll see.

  27. Anonymous says

    Do you think they may come out with a silver pricing grid for annual sets like the gold pricing grid?

    I'm not aware of any clad sets that have been a worthwhile "investment". Still hoping for realization of the '09 copper penny value. I'm still holding on to my 1975/6 bicentenial clad sets hoping they will gather more value….maybe in 2076?
    However, I am old enough to know what you may write off as a bad investment may suddenly change. If silver sets continue to be priced so far ahead of clad, some wise young people may decide to collect the "just as eye appealing" clad sets for a fraction of the cost, eventually adding demand (premiums) to sets that will never be manufactured again. Look at the gap between the 2000 silver and clad sets for example. Any other thoughts?


  28. Anonymous says

    I have heard that a lot of US Junk Silver is being bought by off shore buyers and shipped overseas due to the low exchange rate on the US Dollar. Basically cheap silver for overseas buyers with strong currency.I don't think that they will have any problem melting it down.

  29. Anonymous says

    Anyone thinking of purchasing the Mary Todd Lincoln should consider doing this before the price increase.

    It really is a triple play of buying gold, low mintage coin, popular historical theme. Not much else PM for sale! I was considering a PM commemorative until I read Michael's blog about the PM content (0.242 oz gold and 0.77 oz silver) and decided mark up still not worth it.

    Not a big fan of the Mary obverse, but the reverse actually looks pretty nice.

  30. Anonymous says

    Chase-Morgan is trying with all their might to force silver down. That game will only last so long…the end game is near. What is fascinating is that CMB doesn't anything related to silver in their annual reports (or any PM for that matter), and yet they are one of the biggest players. Makes one wonder if Chase-Morgan is just a front for the US Government in trying to use negative tactics regarding PMs to keep their fiat currency alive.

  31. Anonymous says

    "It really is a triple play of buying gold, low mintage coin, popular historical theme. Not much else PM for sale! I was considering a PM commemorative until I read Michael's blog about the PM content (0.242 oz gold and 0.77 oz silver) and decided mark up still not worth it."

    Question: What is only 0.242 gold and 0.77 silver? The gold spouse coins are all 0.5 pure gold according to the law (and Mint).

  32. Anonymous says

    He's talking about the gold commemoratives now being offered by the mint that are .24 gold.

  33. Anonymous says

    Wow down $4 in 12 hours!
    New recornd fall ever for silver!
    Come on guys, you new this day was coming!

  34. Anonymous says

    I just hope the Hot Springs "P" 5 oz. coin doesn't have it's price adjusted up before Thursday! It seems like $309.95 would be the level for it to debut at given the current silver price. I'll bet that Yellowstone won't be priced any less than that!

    By the way, shouldn't Yellowstone have a release date by now?

  35. Anonymous says

    Pop, Pop, Not.

    The rats always jump ship first.

    Don't fall for this move. Silver will most likley double in value .. Fast.

    more to come…

  36. Anonymous says

    JP Morgan Chase is royally screwed as they say. They have an ENORMOUS short position, and cannot cover. Wait until you see the write down they will be forced to report next quarter. Wait until they try to make up losses with additional banking fees to the little people. Whew!

  37. Anonymous says

    "Have any CLAD proof sets appreciated in value since issue price, or are we all just unwise to ever buy them directly from the mint?"

    The rise in silver and gold is RUINING coin collecting as we've known it. seems to be more important than any grey sheet or numismatic book.

    Today is just what your coins are worth melt (less the few stars ie. UHR, Julia Tyler gold). The clads are really going to approach face value. Love to hear any different opinions.

  38. Anonymous says

    When the ship sales there is no swimming back.

    I know rhat you like the 1000% profit.

    How would you like 2000%

    Dream Big !

  39. Anonymous says

    Anon 1:26 PM:

    Inconsiderate bloggers like yourself will force Michael to cut off all of our comments. Please stick to appropriate blogging.

    I'm still collecting clads (for now). I think the copper pennies of '09 will be a hit (one day).
    The 1996 w clad dime is cool also.

  40. Anonymous says

    Speaking of the '09 copper pennies, has anyone else had the proof versions tarnish? I bought a group of 1999-2011 silver proof sets a few weeks ago, and the pennies in the 2009 set look TERRIBLE. Very tarnished and discolored. I was amazed that they could look so bad in just two years. I'm afraid to look at the clad sets that I have, for fear they will look just as bad. The Mint wasn't kidding when they talked about "unique tarnishing issues", but I thought that problem was supposed to have been fixed.

    The 2009 pennies are just a minor issue for me, though. I bought those sets for the silver of course. It didn't hurt that I got them for not much over the silver and other face value (then). Now, I'm ahead by nearly $100 or so. That doesn't even allow for the extra premium the 1999 and 2001 sets can bring.

    It's probably getting close to time to sell them already and cash in. I just wish the 2009 pennies didn't look so bad. I have to disclose that in the auction (unlike the one who sold them to me.) Hopefully like me, a silver buyer won't really care.

  41. Anonymous says

    JP Morgan has no short position on silver. That is one of THE biggest folklore legends circling the Internet. Tell it often enough with absolutely zero facts to back it up and people will believe it. I'd love for someone to point me to a CREDIBLE source that shows that JP Morgan has this position.

    Have they been investigated the Commodities Commission? Yes. But the sources harping on this drivel are the ones who stand to gain financially from the gullible.

    It's amazing what people will believe when they insulate themselves in the echo chambers of those they agree with. God bless the Internet.

    PT Barnum is as spot on as he was back in the day when he uttered his famous phrase.

  42. Anonymous says

    The value of collector coins has been put on the back burner. The margin between collector coins and coins with precious metal content is as slim as it has ever been.

    If you don't believe me; check on the price of a 1996 American Eagle. This uncirulated, Key Date
    is selling for just a couple dollars over a 2011 uncirculated eagle.

    Hold onto your clad coins and see if everything really goes to melt.

    Clad could end up the King.

  43. Anonymous says

    1999 silver sets have been plummeting since spot silver has gone up. (not a true rarity anyhow). Funny how "key dates" fly to spot pricing when spot pricing is king.

  44. Anonymous says

    "JP Morgan has no short position on silver. That is one of THE biggest folklore legends circling the Internet. Tell it often enough with absolutely zero facts to back it up and people will believe it. I'd love for someone to point me to a CREDIBLE source that shows that JP Morgan has this position.

    Have they been investigated the Commodities Commission? Yes. But the sources harping on this drivel are the ones who stand to gain financially from the gullible."

    Dude – Do you have a clue? There are class action lawsuits that have been filed against JPM and HSBC regarding their manipulation of the silver market through mega-shorting. I think these lawsuits would have been tossed by now if JPM could show that they were are not shorting silver. Furthermore, the lawsuit is a RICO lawsuit, which is extremely bad news for JPM from a legal standpoint.

    Ironically, the price of silver started going up after the lawsuits were filed. Coincidence? I doubt it. The gold/silver price ratio was also static for years, and after the lawsuits were filed this ratio has dropped dramatically. Coincidence? Those with their head in the sand might think so.

    From the link below, the lawsuits against JPM were filed "only a few days ago Bart Chilton, high ranking member of the US Commodity Futures Trading Commission (CFTC), publicly explained for the first time that the continuous accusations regarding the manipulation of certain commodity classes could be well-founded." Again, Chilton basically admitted that the markets were being manipulated, and I have a hunch he knows a bit more about it than you do. JPM is the largest silver player out there, and apparently got caught (hence the RICO lawsuit and class action lawsuits).

    By the way, do you want to sell me your silver?

  45. Anonymous says

    To 2:43pm – my 09 lincoln pennies end up in two parities. Some look badly toned from day one, others just look fresh and clean. And those appear in bunch: either 4-pc toned or 4-pc clean. Guess it has something to do with da mint's special anti-tarnish handling…

  46. Anonymous says

    I have 2, 09 mint sets, the 09 silver proof set, and 5 of the Lincoln 4 coin proof sets, and 1 Lincoln Chronicles. All of mine look like the day I bought them. Some of your sets have been no telling where or in what kind of an environment. The mint was mainly concerned at the time how the mint 09's would turn out.

  47. Anonymous says

    Response to:
    "So how do you get American Express 2% cash back rebates?"
    April 24, 2011 8:01 AM
    1. I use a Fidelity Rewards American Express® Cards (run by FIA Card Services – a BOA company)
    * Turn 2% of purchases into a deposit in your eligible Fidelity account
    * No limits on cash rewards
    * No annual fee
    It is one of the best reward cards out there but you could use any rewards card.

    2. Here is the trick: PayPal makes you first pay through your PayPal balance, then they want to transfer from your bank account and finally they will let you pay through your credit card – before I pay for an auction win I set up a free transfer of all my PayPal Balance to my linked bank account, hence zeroing out my account, then when I pay I am careful to change the default payment method to pay using my 2% rewards card – NOT bank transfer. It is that easy – a 7% discount (Mr. Rewards, E-Bucks and Credit Card Rewards) for any coins purchased on E-Bay – I both sell and buy on E-Bay and a lot of times you net more being a buyer than a seller – you just have to know how the system works … well there goes my competitive edge – hopefully nobody will read this post 🙂

  48. Anonymous says

    My 2009 cents still look fine. How have you been storing your coins? Keep them in a cool (not cold) dry location and they should be fine.

  49. Anonymous says

    Just got an email from APMEX saying they will buy 2010 ATB 5 oz. sets for $1250. Wonder if they oversold their allotment…..

  50. Anonymous says

    PMs fluctuate…just like stocks. If you want to know the future of PMs (long-term), just watch the dollar. The only way for PMs to drop is for our government and the Fed to get their houses in order. There's too many mouths at the trough, and I don't see any fiscal sanity in the future (and definitely not with the current administration).

    My guess is that silver will drop back to $40 or slightly below, and then top $50 by the end of the year. It has risen too fast for support, so a moderate correction is in order. Buy on the dip!

  51. Anonymous says

    Just an FYI: My Dillon Gage set came in – nice coins – not perfect but good to have in hand. These are the previous ungraded generation sent in flips. A pleased customer here…

  52. Mr B. Franklin says

    Anonymous said…
    Silver is going down boys?whats up with that

    April 25, 2011 7:25 PM


    Profit takers today making a fast buck.

    I believe it will go to 75.00 a oz before going back to 15.00 or so

  53. Anonymous says

    The powers that be don't want silver over $50 and will never allow silver above $55.00/oz.

    Also, I noticed Nightline did another segment on surging gold prices. They then mentioned increases in other commodities i.e. oil, orange juice, etc…..But not one mention of silver.

  54. Vettesnfrets says

    FWIW,silver was a 49.19 high lastnight at overseas spot,the US corrected that during our day.Watch June for a high silver.

  55. Anonymous says

    It is not a good time to buy these silver proof and mint sets. In a few months, these will cost much less (maybe close to issue price) as silver continues to fall. Best time to buy is when silver price is falling.

  56. Anonymous says

    I received my ATB set from Jack Hunt today….they are in NGC holders…Gem Uncirculated, Early Releases.

    Not bad for $949

  57. Anonymous says

    "as silver continues to fall"

    On what planet are you living? In the last 30 days silver went from $37 to $46. Intra-day bounces do not count as falling.

  58. Anonymous says

    Back in January, people were commenting the 2011 Silver Proof Set was an overpriced ripoff and there was even a call for a boycott.

    Also in January, my prediction for the Mint News Blog survey 2011 was "sellout of 2011 Silver Proof Set".

    Now that the Mint has suspended their sales, these Sets are bidding above $80 on eBay. And it's not even May 2011 yet!

    So what's going to happen to the 2011 Silver Proof Sets if the 384,124 sold so far are all we're gonna get? That number would be less than half the mintage of the vaunted 1999 Silver Proof Set.

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