What You Need to Know Before You Sell Silver Proof Sets (2024)

FAQs

Are silver proof sets worth anything? ›

As mentioned above, the number of silver proof sets produced is the primary factor affecting their value. The lowest produced silver proof sets, and therefore, the most valuable were minted in 1956 and earlier.

Silver coins are generally easy to sell due to their intrinsic value and high demand among investors and collectors. You can sell them through local coin shops, online dealers, marketplaces, or directly to collectors.

The silver proof sets always cost more than their base metal siblings, but they are packaged to the same high standard. The one difference is the insert or backing that keeps the coins in place. The color is different, and the word “silver” on the insert is rather prominently placed right where a person can see it.

There are numerous factors that contribute to the value of proof coin sets but age and rarity are the two greatest indicators. Since they were originally produced as prototypes, very few proof coins were made and those that were produced for that purpose, generally before 1970, tend to hold a higher value.

Generally speaking, US proof set values are higher the closer they are to 1936. However, throughout the series there are special instances of various sets going for hundreds or even thousands of dollars more than normal.

While you must report capital gains, the requirements are different. Silver sales that require reporting are 90 percent silver US coins with a face value over $1000 and silver bars 0.999 fine totaling 1000 troy ounces or more.

Selling precious metals to an online dealer may fetch the best price because they're operating expenses are much lower than a local coin shop that has to maintain a physical storefront. Selling your gold or silver online to GoldSilver.com is easy.

Cleaning old coins might seem like a good way to revitalise the appearance of a treasured item, but could in fact reduce a coin's value significantly, and should be avoided. Particularly in the case of old precious metal coins, cleaning them is most definitely not recommended!

American Silver Eagles have been in consistently high demand over the last three to four years and are considered liquid even compared to other silver coins. One oz silver American Eagles may be the easiest silver product to sell.

Can you sell silver coins to a bank? ›

It may be surprising for you to know that you can only buy silver from the banks. But if you go to sell the silver back to the banks, they will not accept it.

Silver bars.

Silver bars are rectangular ingots made to a precisely defined size and weight. They are usually stamped with marks identifying their origin, manufacturer, weight, serial number, mint, and purity. Silver bars are 99.99 or 99.9% silver, making them the easiest form to identify and sell.

American Rarities is buying all US mint proof sets, whether in their original packaging, or graded by one of the major coin grading services. We will buy your proof sets at a competitive price. Getting an idea of your US mint proof set value is as simple as providing a simple inventory list of your collection.

The United States Mint Proof Set, commonly known as the Proof Set in the United States, is a set of proof coins sold by the United States Mint. The proof set is popular with coin collectors as it is an affordable way to collect examples of United States coinage in proof condition.

Proof coins and MS-70 coins are considered higher quality than other circulating coins. Proof coins are made using a special process that yields an attractive finish with greater detail. MS-70 coins are also high-quality coins, but they are not considered as perfect as proof coins.