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 Coinflation.com. 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.
Labels: Annual Sets